Sportsmap Tech Acquisition, a blank check company formed by the founder of Gow Media targeting sports tech, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50.
The company is led by CEO David Gow, the founder and CEO of Gow Media, a multi-platform media company with a portfolio of platforms, including ESPN Radio Houston and the SportsMap Radio Network and digital content sites, among others. The company plans to leverage management's experience and target opportunities in sports tech, with a focus on fan engagement, health and wellness, esports, and fantasy sports and gambling.
Sportsmap Tech Acquisition plans to list on the Nasdaq under the symbol SMAPU. Roth Capital and Craig-Hallum Capital Group acted as joint bookrunners on the deal.
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