December 5, 2020

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Entertainment and gaming SPAC Tekkorp Digital Acquisition files for a $300 million IPO

Tekkorp Digital Acquisition, a blank check company formed by Tekkorp Capital targeting the digital media...

Tekkorp Digital Acquisition, a blank check company formed by Tekkorp Capital targeting the digital media and leisure industries, filed on Friday with the SEC to raise up to $300 million in an initial public offering.

The Las Vegas, NV-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Tekkorp Digital Acquisition would command a market value of $375 million.

The company is led by CEO 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 was founded in 2020 and plans to list on the Nasdaq under the symbol TEKKU. Jefferies is the sole bookrunner on the deal. 

The article Entertainment and gaming SPAC Tekkorp Digital Acquisition files for a $300 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.