Chris Shumway as a co-founder, registered with the securities and exchange commission (SEC) on 14 th September for an initial public offering (IPO) it hopes will raise as far as US$350 million.
The Florida-based Blank-check organization, which intends to list on the New York Stock Exchange under the symbol NYSE: SEAH.U at https://www.webull.com/quote/nyse-seah.u, is currently providing 3-5 million units at US$10 apiece, with each featuring one share common stock and one 1 / 2 a warrant, exercisable in US$11.50.
An official filing
The filing continued: ‘samples of those technology/service areas involve websites, ticketing, obligations processing, entertainment traveling, gambling, devotion programs and lots of others.
‘Our founders possess Comprehension of these areas and we believe a firm operating in one of these areas would benefit from our operational expertise and the ability and systems of our management team’
Grubman (envisioned ), a former Goldman Sachs partner who had been recently chairman of OLE, will serve as chairman and chief fiscal officer for NYSE: SEAH.U, whereas Collins, who also spent years as a chief operating officer at the National Hockey League (NHL), is going to soon be the organization’s chief executive. He left OLE after the business was acquired in January by agency giant Endeavor to get a reported US$660 million.
Joining the direction
Explaining its decision to concentrate on companies in NYSE: SEAH.U, Sports Entertainment Acquisition said lots of organizations in those sectorsreach high growth’ and can serve as platforms which may be utilized for future acquisitions’.
‘The application of Third-party funding and expertise can enable growth out the first attention area,’ that the corporation’s filing added. ‘Examples of businesses that have followed this trajectory comprise ESPN, Ticketmaster/StubHub, Fanatics, On Location, and several more.’
NYSE: SEAH.Uis your latest sports-focused SPAC to record with the SEC recently. The business raised US$575 million from its IPO that it hopes to spend on acquiring a professional sports franchise.
Several private Businesses have gone public this season by consolidating using SPACs, which are openly traded companies designed specifically to get an acquisition.
Daily fantasy sports And betting operator DraftKings,” as an example, completed a three-way merger in April with gaming tech specialists SBTech and investment business Diamond Eagle Acquisition Corp (DEAC). Sportradar, the Swiss sports data intellect firm, is reported to be considering going down the SPAC route.
SPACs have already Increased a listing US$38 billion in 2020, based on SPAC Research. You can check more stocks information at https://www.webull.com/quote/rankgainer .
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.