IG Acquisition, a blank check company formed by the co-founders of Ivory Gaming Group targeting the leisure industry, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, IG Acquisition would command a market value of $375 million.
The company is led by Chairman Bradley Tusk, co-founder and Chairman of casino management company Ivory Gaming Group and co-founder and CEO of Tusk Ventures, and CEO Christian Goode, co-founder and CEO of Ivory Gaming Group and former President of Genting Americas. The company plans to target businesses in the leisure, gaming, and hospitality industries with enterprise values exceeding $750 million, with particular emphasis on businesses that are well-positioned for growth.
IG Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol IGACU. The company filed confidentially on August 5, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.
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