Thursday, December 9, 2021

Blank-Check Co. Iconic Sports Leads 3 IPOs Totaling $761M

By Tom Zanki (October 22, 2021, 6:08 PM EDT) — A London-based blank-check company hoping to acquire a global sports franchise began trading on Friday after completing an upsized $300 million initial public offering, one of three special purpose acquisition companies to publicly debut after raising a combined $761 million.

Six law firms steered the IPOs, representing the companies and underwriters. SPACs, also known as blank-check companies, are alternative funding vehicles that raise money to acquire a company and take it public.

Iconic Sports Acquisition Inc., advised by Kirkland & Ellis LLP, raised $300 million after selling 30 million units at $10. London-based Iconic Sports offered 5 million more units than…

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