Iconic Sports Acquisition Corp. Completes Upsized $345 Million Initial Public Offering
27 October 2021 - 1:47PM
Business Wire
Iconic Sports Acquisition Corp. (“Iconic Sports” or the
“Company”) today announced the closing of its upsized initial
public offering of 34,500,000 units, which includes 4,500,000 units
issued pursuant to the exercise by the underwriters of their
over-allotment option in full. The offering was priced at $10.00
per unit, resulting in gross proceeds of $345 million.
Iconic Sports is a special purpose acquisition company formed
for the purpose of entering into a business combination with one or
more businesses. The Company expects to capitalize on the ability
of its sponsor group and management team to identify, acquire and
accelerate a business in the global sports industry or an adjacent
sector including data and analytics, media and technology. In doing
so, the Company intends to focus its search on iconic businesses,
including sports franchises, which will complement its
differentiated expertise, benefit from its strategic and hands-on
operational leadership and where it believes there are
opportunities for attractive risk-adjusted returns and to build a
platform for future investments.
The sponsor group behind Iconic Sports is a partnership between
James G. Dinan, Alexander Knaster, Edward Eisler and Tifosy
SponsorCo LLC, an affiliate of Tifosy Capital & Advisory, a
leading boutique sports advisory firm. The Company is led by
Co-Chief Executive Officers Gianluca Vialli and Fausto Zanetton,
and brings together a powerful combination of experience, industry
relationships and global expertise across sports, finance and
management.
In order to further align the interests of the sponsor group,
management and the shareholders of the Company, the sponsor group
acquired $50 million of units in the offering at the initial public
offering price.
Credit Suisse Securities (USA) LLC and Morgan Stanley & Co.
LLC acted as joint book-running managers for the offering.
The Company’s units began trading on the New York Stock Exchange
(the “NYSE”) on October 22, 2021 under the ticker symbol “ICNC.U”.
Each unit consists of one Class A ordinary share of the Company and
one-half of one redeemable warrant. Each whole warrant entitles the
holder thereof to purchase one Class A ordinary share of the
Company at a price of $11.50 per share. After the securities
comprising the units begin separately trading, the Class A ordinary
shares and warrants are expected to be listed on the NYSE under the
symbols “ICNC” and “ICNC WS,” respectively.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained by visiting EDGAR on the website of
the Securities and Exchange Commission at www.sec.gov or from
Credit Suisse Securities (USA) LLC, Attn: Prospectus Department,
6933 Louis Stephens Drive, Morrisville, North Carolina 27560,
telephone: 1-800-221-1037, email: usa.prospectus@credit-suisse.com
or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180
Varick Street, Second Floor, New York, New York 10014, email:
prospectus@morganstanley.com.
A registration statement relating to the securities became
effective on October 21, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offering and the anticipated use of the net
proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the risk factors section of the Company’s registration
statement and preliminary prospectus for the Company's offering
filed with the Securities and Exchange Commission (“SEC”). Copies
are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211026006359/en/
Jonathan Gasthalter/Nathaniel Garnick Gasthalter &
Co. +1 212 257 4170
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