Entertainment SPAC Acies Acquisition prices $200 million IPO at $10

Acies Acquisition, a blank check company targeting live, location-based, and mobile experiential entertainment, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company had originally planned to offer 30 million units, consisting of one share and one-quarter of a warrant, before lowering the unit offering on Wednesday.

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 plans to list on the Nasdaq under the symbol ACACU. Morgan Stanley, J.P. Morgan and Oppenheimer & Co. acted as joint bookrunners on the deal.