Athletes and celebrities were among the names that attached themselves to SPACs in 2021 seeking to find private companies to take public. Here are two new SPACs that have athletes as part of the management teams.
Sports & Health Tech Acquisition: Newly filed SPAC Sports & Health Tech Acquisition Corporation plans to sell 15 million units for $10 each. Each unit will include one common share and one half of a warrant. The company plans to list on the Nasdaq under the ticker LDSP.
The SPAC is targeting finding a company in the areas of fan engagement, consumer-facing health and fitness technologies and health and wellbeing.
Tiger Woods is a lead investor for the SPAC and is listed as a key asset to getting a deal done given his knowledge in the space and relationships.
Along with Woods, there are several athletes attached to the SPAC. Tennis player Caroline Wozniacki, who is the former No. 1 women’s player in the world, is a member of the SPAC team. Wozniacki is a long-term ambassador for Adidas AG (OTC:ADDYY).
NBA champion and 12-year veteran David Lee is a member of the SPAC team. Lee previously worked for venture capital company Social Capital, led by Chamath Palihapitiya.
The SPAC lists several sectors and areas it could target with an acquisition. Among the notable areas mentioned in the filing are streaming networks for sports, esports, sports collectibles, non-fungible tokens, wearables and connected fitness.
Related Link: Kevin Druant Launching A SPAC That Could Target Sports Or Cryptocurrency
Andretti Acquisition Corp: Racing fans should be able to identify the racing family attached to the SPAC with a name of Andretti Acquisition Corp (NYSE:WNNR). The company recently raised $200 million through the sale of 20 million units, which trade with ticker WNNRU on the NYSE. Each unit includes one common share and one half of a warrant.
The SPAC includes the involvement of Mario Andretti and Michael Andretti. Elder Mario is a former Formula One World Champion, Daytona 500 winner and Indy 500 winner. Mario is one of only three drivers to win races in Formula One, IndyCar, World Sportscar Championship and NASCAR. Mario is serving as a special advisor to the SPAC.
Michae, who serves as co-CEO of the SPAC, won the IndyCar World Series in 1991 and has 42 IndyCar wins in his career.
Target areas for the SPAC include advanced mobility and related next-generation technologies, premium and performance vehicles and replacement automotive parts.