Sports Properties Acquisition Corp., a SPAC that intends to invest in the sports, entertainment or leisure industries, priced its 20 million unit offering at the expected $10 on Thursday. Earlier in the day, the company amended the terms of the offering, reducing the warrant exercise price by $0.50 to $7.00 and increasing the amount of proceeds placed in trust to 100%. The company’s CEO, Tony Tavares, is the former CEO of global venue management company SMG; he also has served as President of several MLB franchises and was previously CEO of Disney Sports Enterprises. Baseball legend Hank Aaron and former New York Governor Mario Cuomo are on the board of directors. The units are expected to begin trading on the AMEX on Friday under the ticker HMR.U.
