Market Capitalization (Millions $) |
- |
Shares
Outstanding (Millions) |
45 |
Employees |
- |
Revenues (TTM) (Millions $) |
- |
Net Income (TTM) (Millions $) |
-62 |
Cash Flow (TTM) (Millions $) |
1 |
Capital Exp. (TTM) (Millions $) |
0 |
Sports Entertainment Acquisition Corp
Sports Entertainment Acquisition Corp. is a special purpose acquisition company, also known as a SPAC, focused on identifying and acquiring businesses operating in the sports and entertainment industries. The company was co-founded in 2020 by Eric Grubman, an ex-NFL executive who spent more than a decade as the league's executive VP of business affairs, and Jason Robins, the CEO of DraftKings. The SPAC's formation was announced in November 2020.
Sports Entertainment Acquisition Corp. plans to raise up to $400 million through an initial public offering (IPO) to be used for the acquisition of a target business. The company's offering is being underwritten by Goldman Sachs.
The founders of Sports Entertainment Acquisition Corp. have stated that the company is seeking businesses that operate in areas such as media rights, data analytics, ticketing, e-commerce, gaming, sports betting, and sports technology. The SPAC is particularly interested in businesses that have a strong digital presence and a loyal customer base.
The SPAC is pursuing an aggressive timeline for identifying and closing its first deal. The company's founders have stated that they hope to complete the acquisition by the end of 2021. If the SPAC is unable to identify a suitable target company within a specified time frame, it will return the funds raised in the IPO to its investors.
The sports and entertainment industries have been particularly hard hit by the COVID-19 pandemic. Sports leagues around the world have had to navigate difficult decisions around the safety of players, staff, and fans, while many entertainment venues have been forced to close entirely. Despite the challenges facing these industries, Sports Entertainment Acquisition Corp. is betting on a future in which sports and entertainment continue to play a central role in people's lives.
In summary, Sports Entertainment Acquisition Corp. is a SPAC that is focused on acquiring businesses in the sports and entertainment industries. The company is pursuing an aggressive timeline for identifying and closing its first deal and has stated that it is particularly interested in businesses that have a strong digital presence and a loyal customer base.
Company Address: Golden Bear Plaza North Palm Beach 33408 FL
Company Phone Number: 402-0741 Stock Exchange / Ticker: NYSE SEAH
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