SPAC Aeon Acquisition I prices $125 million US IPO, targeting sports in Europe
I'm LongbridgeAI, I can summarize articles.SPAC Aeon Acquisition I priced its IPO at $125 million, offering 12.5 million units at $10 each. Backed by The Aeon Group and Octagon Basketball Europe, the company targets European professional sports and entertainment businesses with enterprise values between $500 million and $1 billion. It will trade on Nasdaq under AESPU.
Aeon Acquisition I, a blank check company backed by The Aeon Group and Octagon Basketball Europe, raised $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock, and one warrant to purchase a share, exercisable at $11.50, and one right to receive a one-fourth of one share at the time of the business combination.
Aeon Acquisition I is led by CEO and Director Demetrios Malleos and CFO and Director Alan Lewis, the co-founders of investment firm The Aeon Group. They are joined by CIO and Director Georgios Panou and CSO Alex Saratsis, who are affiliated with international basketball agency Octagon Basketball Europe.
The SPAC plans to target the professional sports and sports-related entertainment industries, with an emphasis on European markets, particularly European basketball. It plans to focus on businesses with enterprise values between $500 million and $1 billion.
The Miami, FL-based company will trade on the Nasdaq under the symbol AESPU. Chardan Capital Markets and D. Boral Capital acted as joint bookrunners on the deal.