UTA Offers $ 200 Million IPO to Create Games and Digital Media Company

United Talent Agency has priced the initial public offering of its new acquisition company at $ 200 million with the aim of creating a new company focused on games, digital media and jobs in the creator economy .

Led by the former president of Nintendo Co., Ltd. Reggie Fils-Aimé, SPAC, UTA Acquisition Corp., began listing on Nasdaq under the symbol “UTAAU” on Thursday, December 2nd.

Fils-Aimé will assume the role of chairman alongside co-managing directors Clinton Foy, UTA’s general venture capital partner, and former Google executive Jamie Sharp. Ophir Lupu, head of video games at UTA, will be the president of SPAC.

UTA Acquisition brought together important names for the PSPC board of directors, including Nancy Tellem, former executive of CBS Entertainment and Microsoft, Alexis Ohanian, co-founder of Reddit, and Kathy Vrabeck, chief strategy officer of Beachbody Company and former director of Legendary Entertainment.

According to the company’s S-1 file with the SEC, it hopes to use the expertise of its sponsors, which include subsidiaries of UTA as well as financial advisory and investment banking firm Connaught Ltd., to find a suitable fusion partner.

“We intend to capitalize on the ability of our leadership team to identify, acquire and manage a business that can benefit from the one-sided operations, finances and investment available to members of our sponsor and our management team, especially in games, but also in related fields. areas in the broader landscape of digital media, the creative economy, entertainment and technology, ”says File S-1.

PSPC shares will sell for $ 10 each, with $ 20 million slated for the IPO. That said, the breadth of options the company is considering makes it less secure, even though it is led by a management team whose members have pedigrees in different industries. Among the risk factors detailed in Document S-1, UTA Acquisition indicates that since it has not yet chosen a “target company”, shareholders may not be entitled to the protections that United States laws on acquisition. securities generally offer.

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