PSKY Stock Soars After Paramount Skydance Confirms Investments From Middle East Wealth Funds

Paramount Skydance Corp. (PSKY) shares soared nearly 10% in Tuesday morning’s trade after the company confirmed investments from Middle East wealth funds.

“PSKY believes the successful Equity Syndication is an important milestone in the WBD transaction process,” the company said in its 8-K filing with the U.S. Securities and Exchange Commission (SEC).

Paramount stated that the Equity Syndication parties include Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, Abu Dhabi sovereign wealth fund L’imad Holding, Qatar Investment Authority’s investment vehicle, QIA TMT Holding LLC , and U.S.-based LionTree Investment Fund.

The company also stated that the PSKY shares issued to the Equity Syndication parties will not have voting rights, while adding that the Ellison family and RedBird together will continue to hold the largest equity stake in the company.

Retail sentiment on Stocktwits around Paramount Skydance trended in the ‘bullish’ territory at the time of writing.

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