United Talent Agency raises $ 200 million for SPAC

By on December 6, 2021 0

United Talent Agency plans to raise $ 200 million to start a blank check company run by former Nintendo president Reggie Fils-Aimé.

SPAC – called UTA Acquisition Corporation – is selling 20 million shares for $ 10 apiece and is expected to close its offering on Dec. 6 with trading on NASDAQ.

UTA Acquisition seeks to acquire a company that operates in games, digital media or entertainment and has unique intellectual property, proven leadership and the potential to grow.

Known for her work in television and film, UTA has expanded its presence.

  • The agency struck a deal in February with Disconcert Clan, helping the esports and entertainment company grow into podcasting and unscripted content.
  • In March, she acquired Echo Site Talent Agency, a London-based company that represents popular music artists Marshmello, Diplo and Alesso.
  • Last month, the agency partnered with Stampede Companies to throw HappyNest, a production company focused on animated content for children and families.

UTA is not the only talent and media company to tap into after-sales service and the public market.

Effort raised $ 511 million in its initial public offering in April after planning to go public in 2019. In September, CreativeArtistsAgency agreed to acquire ICM Partners, creating speculation that the combined entity might consider an offer of shares.