PowerUp Acquisition Corp. announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PWUPU” Friday, February 18.
The new SPAC intends to identify and acquire a business within the interactive media, digital media, sports, entertainment, and/or leisure, with a particular focus on video gaming, gaming adjacent, and new metaverse video gaming businesses. PowerUp is led by Bruce Hack, Jack Tretton, Michael Olson, and Gabriel Schillinger. Mike Vorhaus serves as a senior advisor.
Total SPAC deal count for 2022 year-to-date is now 41. This offering is expected to close on Wednesday, February 23.
Citigroup Global Markets Inc. is acting as sole book-running manager for the offering and Odeon Capital Group, LLC is acting as co-manager of the offering. McDermott Will & Emery LLP is serving as Issuer’s Counsel with Proskauer Rose LLP serving as Underwriter’s Counsel. Marcum LLP serves as an auditor. American Stock Transfer & Trust Company, LLC is acting as trustee.
At the SPAC of Dawn After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year. Shoppers bagged between $9.8 billion and $10 billion in goods online, depending on one’s preferred source, either of which would be...
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...
At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...
Integrated Wellness (NYSE:WEL) announced in an 8-K filing that it agreed to transfer control of its sponsor to Sriram Associates, which will now take on the SPAC’s financial obligations and may appoint a new team. Sriram is acquiring 2,012,500 promote shares (70%) and 4,795,000 private placement warrants (70%) for the nominal purchase price of $1....