Todd Boehly SPAC Horizon inches up after $3.1 bln deal to take Flexjet public

Sportradar AG

11/10/2022 14:16

** Shares of special-purpose acquisition company Horizon
Acquisition Corp II  HZON.N  up 2 cents at $10.04 before the
bell
    ** Private jet service Flexjet looking to go public by
merging with Todd Boehly-backed SPAC in deal valued at $3.1 bln
    ** Deal expected to close in Q2 2023 and combined co to
trade on the NYSE with ticker "FXJ"
    ** Boehly, one of the owners of Chelsea Football Club, has
been a prolific SPAC investor
    ** HZON raised $500 mln in its Oct 2020 IPO and in Mar 2021
offered to merge with Sportradar Group AG  SRAD.O . But the
Swiss sports gambling data firm ultimately chose traditional IPO
route and went public in Sept 2021
    ** The SPAC market has flamed out over the past two years
amid surging interest rates, elevated regulatory scrutiny, high
shareholder redemptions and collapsing share prices
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))