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TMT and entertainment SPAC BlueRiver Acquisition prices $250 million IPO

January 29, 2021
BLUA.U

BlueRiver Acquisition, a blank check company target the TMT and entertainment industries, raised $250 million by offering 25 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 is led by Co-CEO and Co-Chairman John Gregg, founder of Bluewater Ventures and former Head of Corporate Development and CFO of NTL (now Virgin Media), and Co-CEO, Co-Chairman, and CFO Randall Mays, founder and CEO of Running M Capital and Co-Managing Partner of Mays Family Enterprises, as well as former Vice Chairman of Clear Channel Communications (now iHeartCommunications). The company plans to target the technology, media, and telecom (TMT) and entertainment industries, focusing on businesses with enterprise values between $1 billion and $3 billion.

BlueRiver Acquisition plans to list on the NYSE under the symbol BLUA.U. Goldman Sachs acted as a lead manager on the deal.