RMG ML Sports Holdings, a blank check company led by Riverside's James Carpenter targeting sports, lowered the proposed deal size for its upcoming IPO on Friday.
The Incline Village, NV-based company now plans to raise $200 million by offering 20 million units at $10. Each unit now consists of one share of common stock and one right to receive one-eighth of one ordinary share upon the consummation of an initial business combination. The company had previously filed to offer 26.1 million units at the same price, with each unit containing one share of common stock and one right to receive one-tenth of one share. At the revised terms, RMG ML Sports Holdings will raise -23% less in proceeds than previously anticipated.
RMG ML Sports Holdings is led by CEO and Director James Carpenter, who is the founder and CEO of Riverside Management Group. He is joined by CFO and Director Douglas Horlick, who is an investment banker at BCW Securities and the founder of Estancia, and Chairman Paul Grinberg, who is the Chairman of Axos Financial.
The SPAC intends to target the global sports industry and adjacent sectors including, but not limited to, entertainment, eSports, gaming, music publishing and real estate development (focused on stadiums and venues).
RMG ML Sports Holdings was founded in 2025. It plans to list on the Nasdaq under the symbol SHOTU. Santander is the sole bookrunner on the deal.
