Victory Acquisition, a blank check company targeting the media, sports, and entertainment industries, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Dallas, TX-based company plans to raise $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. At the proposed deal size, Victory Acquisition would command a market value of $313 million.
The company is led by CEO and Director James Lites, who currently serves as the Executive Chairman of the Dallas Stars and has held various roles across the National Hockey League, Major League Baseball, and National Football League, and Chairman William Quinn, the founder and Managing Partner of investment firm Pearl and a former minority owner of the Texas Rangers Baseball Club. The company plans to target the media, sports, and entertainment industries, as well as the related technology and service sectors that support these industries.
Victory Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol VACIU. Credit Suisse and Wells Fargo Securities are the joint bookrunners on the deal.
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