Cadwalader Advises Forbes on $200 Million Investment from Binance

February 16, 2022

Cadwalader advised Forbes on a $200 million strategic investment from Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers. Forbes and Magnus Opus Acquisition Limited, a publicly-traded special purpose acquisition company, previously announced a business combination, expected to close this quarter, through which Forbes will become a publicly traded company on the New York Stock Exchange. Cadwalader is advising Forbes on that $630 million deSPAC transaction with Magnus Opus, just as the firm advised Forbes on its 2014 sale of a majority stake to a group of international investors.

Forbes’ transactions with Magnus Opus and Binance are expected to help the company maximize its brand and enterprise values and use its proprietary technology stack and analytics to convert readers into long-term, engaged customers of the platform.

The Cadwalader team included Corporate co-chair William Mills and partner Josh Apfelroth, along with Corporate associates Lindsey Kister and Monica Lindsay and Tax chair Linda Swartz and associate Matt Seitz.