Entertainment SPAC Acies Acquisition files for a $300 million IPO

Acies Acquisition, a blank check company targeting live, location-based, and mobile experiential entertainment, filed on Monday with the SEC to raise up to $300 million in an initial public offering.

The Manhattan Beach, CA-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-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Acies Acquisition would command a market value of $375 million.

The company is led by Co-CEOs Daniel Fetters and Edward King, both of whom worked in investment banking at Morgan Stanley for 20 years and most recently served as Managing Directors, and Chairman James Murren, the former Chairman and CEO of MGM Resorts International. Acies Acquisition plans to target different types of experiential entertainment, varying from live, location-based venues to games played across mobile platforms.

Acies Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol ACACU. The company filed confidentially on September 22, 2020. Morgan Stanley, J.P. Morgan and Oppenheimer & Co. are joint bookrunners on the deal.