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.
Four Leaf Acquisition Corporation (NASDAQ:FORL) has entered into a definitive agreement to combine with Chinese technology firm Xiaoyu Dida for undisclosed terms. The Guangzhou, China-based firm produces software and hardware for smart car washing systems. The parties have set December 31, 2025 as the initial outside date and the combined company is expected to trade...
At the SPAC of Dawn SPACs are back on the board with a new deal announcement, which is the first in a little over two weeks. This brings the fourth quarter count on fresh deals to a still-meager nine after 27 were announced in the third quarter. By contrast, this quarter has still seen more...
Range Capital Acquisition Corp. (NASDAQ: RANGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RANGU”, Friday, December 20, 2024. The new SPAC intends to take a generalist approach in searching for a business combination, but will seek opportunities in capital constrained...
SPAC Deja Vu There’s been a lot of talk this year in the SPAC market about how it’s finally reverting back to a healthier version of deal flow and the comparison is always, “….like 2019”. In fact, in 2019, Trump was in office and there were 59 SPAC IPOs priced. As of this morning, Trump...
This year has seen a variety of innovations for SPACs to continue the lifespan beyond their traditional search windows. In general, this creativity is welcome as long as investors get their chance to have a say and a redemption opportunity at the appropriate time. But, in the second half of 2024, some SPACs have not...