Deals
Death-Spiral Financier Sason Raises $50 Million for Media Deals
- Seeks company in technology, media or telecommunications
- Sets up blank-check firm with Donald Ienner on board
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Joshua Sason, the 29-year-old financier who made a fortune lending money to penny-stock companies, just pulled off the biggest deal of his career.
He raised $50 million from investors and plans to use it to buy a company in the technology, media or telecommunications industries, according to a press release. Sason raised the funds by selling shares in a special purpose acquisition company, or SPAC, a blank-check entity set up for the purpose of acquiring other firms.