Tekkorp Digital Acquisition, a blank check company formed by Tekkorp Capital targeting the digital media and leisure industries, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Insiders had indicated on $20 million worth of units in the offering.
The company is led by CEO and Director Matthew Davey, founder of Tekkorp Capital and former CEO of NYX Gaming Group, and Chairman Morris Bailey, the owner of Resorts Atlantic City. The company plans to target businesses in digital media, sports, entertainment, leisure, or gaming industries.
Tekkorp Digital Acquisition plans to list on the Nasdaq under the symbol TEKKU. Jefferies acted as sole bookrunner on the deal.
The article Entertainment and gaming SPAC Tekkorp Digital Acquisition prices $250 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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