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Entertainment and gaming SPAC Tekkorp Digital Acquisition files for a $300 million IPO

September 25, 2020

Tekkorp Digital Acquisition, a blank check company formed by Tekkorp Capital targeting the digital media and leisure industries, filed on Friday with the SEC to raise up to $300 million in an initial public offering.

The Las Vegas, NV-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, Tekkorp Digital Acquisition would command a market value of $375 million.

The company is led by CEO Matthew Davey, founder of Tekkorp Capital and former CEO of NYX Gaming Group, and Chairman Morris Bailey, the owner of Resorts Atlantic City. The company plans to target businesses in digital media, sports, entertainment, leisure, or gaming industries.

Tekkorp Digital Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol TEKKU. Jefferies is the sole bookrunner on the deal.