UTA Launches $200 Million SPAC to Pursue Video Game Acquisitions
UTA is entering the public market game, forming a special purpose acquisition company (SPAC) that has priced its initial public offering at $200 million.Under the ticker symbol “UTAA,” The SPAC, called UTA Acquisition Corporation, is slated to begin trading on the NASDAQ on Thursday. According to a statement, the offering is expected to close on December 6, 2021, subject to customary closing conditions.Reggie Fils-Aimé, former Nintendo president, will serve as chair of the new company.The statement described the SPAC as a blank check company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.