jon ledecky spac


Whatever you may think of American Apparel now, it was a hot company in the mid-2000’s and having a SPAC (!) With that thought in mind, it’s a little dangerous for teams right now to be aggressive and these terms look to be a concession to the current mood. The reporting person forfeited these securities to the Issuer for no consideration. If Amendment, Date of Original Filed (Month/Day/Year), 6. There was an error, please provide a valid email address.

Ledecky is one of at least 10 sports team owners who have SPACs coming to market. A blank-check company backed by Jon Ledecky, the majority owner of the NHL team New York Islanders, is looking to raise $300 million in a U.S. initial public offering (IPO), the company said on Tuesday. “Examples of these technology/service areas include media, ticketing, payments processing, entertainment travel, gaming, loyalty programs and many others.” Investors have indicated they are interested in providing additional capital, for up to between $1B-$5B, once an acquisition target is identified, a source familiar with the funding raise said. The warrants will expire on the fifth anniversary of the completion of the Issuer's initial business combination. “We intend to focus on the sports and entertainment sectors as well as the technology and services that are associated with these verticals,” the company said in its initial filings. Jon Ledecky-backed blank-check firm aims to raise $300 mln in U.S. IPO, tap here to see other videos from our team. In connection with the Issuer's business combination, such shares of Class B common stock of Pivotal Acquisition Corp. automatically converted acquire the company made headlines. She is best known for leading content efforts at magazine publisher Hearst, leaving when she was passed over for the position as president of the company. PJT Partners is also on as a sponsor and an underwriter of the IPO along with Goldman Sachs. The warrants will become exercisable 30 days after the completion of the Issuer's initial business combination. Jon Ledecky-backed blank-check firm aims to raise $300 mln in U.S. IPO Back to video XL Fleet, a company that provides fuel-efficiency solutions for vehicles, went public earlier this month by merging with Pivotal Investment Corporation II, another Ledecky-backed blank-check firm.
Without fans in the stadiums to watch athletes compete, sports leagues across the world have had to find other ways to make money. Send us a tip using our anonymous form. If space is insufficient. 5. of his or its pecuniary interest therein.

His most recent one, Pivotal II, entered an agreement this month with XL Hybrids, a company that electrifies commercial vehicles ranging in size from minivans to school buses. We apologize, but this video has failed to load. Each of Mr. Ledecky, Pivotal Spac Funding LLC, MGG Investment Group LP, and Mr. Griffin disclaim beneficial ownership of the securities held by Pivotal Acquisition Holdings LLC, except to the extent of his or its pecuniary interest therein. The warrants will become exercisable 30 days after the completion of the Issuer's initial business combination. XL Fleet to go public in SPAC merger September 21, 2020. Meanwhile, Pivotal is a SPAC backed by CEO Jonathan Ledecky, who is the co-owner of the National Hockey League's New York Islanders. Last night, while everyone was still recovering from the Christmas holiday, another new SPAC was filed making the forthcoming 2019 IPO count SIX.
This latest SPAC is Pivotal Acquisition Corp., a $200 million IPO being led by none other than Jonathan Ledecky, one of the more prolific SPAC issuers, circa 2005 to 2009, setting the template for serial SPAC issuers such as the Gores and Fintech teams. Eric Watson, the SPAC's chairman of the board and treasurer, and Jonathan Ledecky, its president and secretary, have been involved with various other blank-check companies in the past. A total of 29 companies entered the public market this past week, the most ever in a single week.

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