Game on: Blank-check firm, advised by athletes, seeks $250 mln in U.S. IPO
18/03/2021 22:01
March 18 (Reuters) - A blank-check firm that counts athletes
Patrick Mahomes, Naomi Osaka, and Robert Lewandowski among its
advisers is looking to raise $250 million through a U.S. initial
public offering, a regulatory filing on Thursday showed.
Disruptive Acquisition Corporation I DISAU.O said it
planned to sell 25 million units, composed of shares and
warrants, priced at $10 per unit, on the Nasdaq Capital Market.
The special purpose acquisition company, or SPAC, is
sponsored by an affiliate of Los Angeles-based merchant bank
Disruptive, whose Chief Executive Officer Alexander Davis will
be leading the blank-check firm.
SPACs are shell companies that raise funds through an
initial public offering to take a private company public through
a merger at a later date.
Disruptive Acquisition, which also counts baseball pitcher
Justin Verlander and boxer Canelo Alvarez among its advisers,
said it intends to find a target in the health and wellness,
entertainment and consumer-facing technology sectors.
Citigroup and Credit Suisse are the book-running managers
for the offering.
(Reporting by Sohini Podder in Bengaluru; Editing by Aditya
Soni)
((sohini.podder@thomsonreuters.com;))