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Patrick Mahomes, Justin Verlander And Naomi Osaka Join Forces On New SPAC

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Patrick Mahomes, Justin Verlander And Naomi Osaka Join Forces On New SPAC

The number of special purpose acquisition companies, or SPACs, searching for targets continues to rise. Celebrities and athletes continue to be attached to many of the SPACs going public.

On Monday, a new SPAC was announced with a full panel of athletes joining the market.

The SPAC: Disruptive Acquisition Corp I (NASDAQ:DISAU) is offering 25 million units to raise $250 million. The units will include one third of a warrant. Units will trade as "DISAU" on the Nasdaq and common shares will trade as DISA in 52 days from the filing.

Alexander J. Davis is the CEO of the SPAC. He's the founder and CEO of Disruptive, a merchant bank that makes investments in late-stage private technology companies. Disruptive invested in Spotify Technology (NYSE: SPOT), Pinterest Inc (NYSE: PINS), Palantir Technologies (NYSE: PLTR) and Hims & Hers Inc (NYSE: HIMS) before they went public.

Former professional tennis players Mardy Fish and James Blake are members of the SPAC. Fish is the VP of Business Development. Fish retired in 2015 with 14 career ATP titles. Blake retired in 2013 and was the number one tennis player in America and number four in the world at the peak of his career.

Along with athletes, Karen Finerman is a Director nominee for Disruptive Acquisition Corp. Finerman is a well-known name in the finance world as a panelist on "Fast Money" since the CNBC show’s debut in 2007.

Related Link: 6 Sports SPACs To Consider For Your Investing Playbook

Athlete Advisory Council: The SPAC includes an Athlete Advisory Council made up of five members who meet monthly. The goal of the council is to be able to provide significant customer engagement and outreach with their fan bases and social media accounts.

The members of the Athlete Advisory Council will have a vested interest in the SPAC. The Athlete Advisory Council includes the following five members right now:

  • Justin Verlander: MLB pitcher for the Houston Astros, 2017 World Series champion, two-time Cy Young winner
  • Canelo Alvarez: World’s best active pound for pound boxer in many rankings, 54 wins in 57 fights
  • Patrick Mahomes: Quarterback for the Kansas City Chiefs, Super Bowl LIV MVP, 2018 NFL MVP
  • Naomi Osaka: has won four Grand Slams and has been ranked number one worldwide in women’s tennis
  • Robert Lewandowski: soccer player from Poland, has won six league titles and a Champion’s League with Bayern Munich, a German soccer club
  • See also: How to Invest in SPACs How to Invest in SPACs

The members of the council could become brand ambassadors for a target company, according to the filing.

Target Market: The SPAC full of sports stars is targeting the health and wellness, entertainment, consumer facing technology sector and sports and entertainment sectors.

The SPAC is searching for a late-stage business with meaningful revenue growth and profitability or a plan to hit profits in the near term.

 

Related Articles (PINS + HIMS)

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Posted-In: CNBC Fast Money Justin Verlander Karen FinermanNews Sports IPOs General Best of Benzinga

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