Mobile-gaming company Skillz Inc. is set to go public through a merger with a blank-check firm run by veteran Hollywood executives, valuing the company at $4.3 billion after the deal is done, according to people familiar with the matter.

Former MGM Holdings Inc. movie studio chief Harry Sloan and film producer Jeff Sagansky have agreed to merge Flying Eagle Acquisition Corp. (FEAC) with Skillz, the people said. In addition to the $690 million from the merger with Flying Eagle, investors including Wellington Management, Fidelity Investments, Franklin Templeton Investments and Neuberger Berman have committed more than $159 million to the deal.