Benzinga · Mar 30, 2022
OnlyFans Explores SPAC Merger, Could Be Going Public: What You Need To Know
Social media platform OnlyFans could become the latest company to go public to continue its impressive growth. One element of the company’s business could be keeping investors from getting excited about the company and prevent a SPAC merger. What Happened: OnlyFans has held talks with “multiple” SPACs about a potential merger to take the company public, according to an Axios report. The company has millions of monthly users and has paid out billions of dollars to creators. While it lets all creators on the platforms, content that is considered adult has been something investors haven’t been able to get past. In August 2021, OnlyFans announced a decision to ban graphic content on the platform. The decision was later overturned, as it sparked a huge conflict with its creators. OnlyFans tried to raise funding last year with little success, according to the report. Axios named Forest Road Acquisition Corp II (NYSE: FRXB) as one of the SPACs that was contacted by OnlyFans. ...
