RedBall Acquisition Corp. announced the pricing of its $500 million IPO tonight and units are expected to begin trading under the ticker RBAC.U on the NYSE tomorrow, August 13th.
Sporting a deep roster of talented managers, RedBall aims to find a candidate to create the rare publicly-listed sports franchise in the next 24 months. The team is headlined by Billy Beane – the former Oakland A’s general manager and executive who pioneered “Moneyball” techniques of leveraging performance analytics to generate the best ROI on player acquisitions.
Co-chairing the Board with Beane is Gerald Cardinale, who leads RedBird Capital Partners, and has a long list of wins on his resume including helping to create the Yankees Entertainment & Sports (YES) Network. Alec Scheiner, a former Dallas Cowboys and Cleveland Browns executive, serves as Redball’s CEO.
Total SPAC deal count for 2020 year-to-date is now 67 with $26.56 billion in gross proceeds raised. The offering is anticipated to close on Monday, August 10, 2020.
Goldman Sachs & Co. LLC is acting as the sole book-running manager for the offering. Fried, Frank, Harris, Shriver & Jacobson LLP and White & Case LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC, acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
At the SPAC of Dawn With just weeks to go before the US presidential elections, SPACInsider will be examining many of the potential shifts in policy that could have implications for SPACs depending on the results. Another potential post-election shift could come at the SEC, where current Chairman Garry Gensler appears likely to stay on...
This week, the SPACInsider Podcast delves into some of the tax and accounting issues that SPAC teams should be considering as we approach both the Presidential election and the end of 2024. Mark Deters and Ryan Bixenman, partners at WithumSmith+Brown, join us to help break it all down. For example, what does it mean for...
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At the SPAC of Dawn Today kicks off with an SEC holiday that may cool activity until Tuesday, but SPACs have still scheduled a pair of extension votes and completion votes this week, most of which are scheduled for tomorrow. Tuesday is also to play host to a vote for Investcorp India (NASDAQ:IVCA) shareholders to...
Terms Tracker for the Week Ending October 11, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week was sandwiched in between the Rosh Hashanah and Yom Kippur holidays, and as such, it was on the lighter side for news. In...