Sports Ventures Acquisition Corporation announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “AKICU” Wednesday, January 6.
The new company aims to combine with a sports team, media rights or content platform or an entertainment studio. Sports Ventures is led by Chairman and CEO Alan Kestenbaum alongside President and CFO Robert Tilliss and COO Daniel Strauss.
Total SPAC deal count for 2021 year-to-date is now four with $725 million in gross proceeds raised. This offering is expected to close on Friday, January 8.
Deutsche Bank Securities Inc. is acting as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.