SPAC Infinite Acquisition prices upsized $240 million IPO, backed by Kevin Durant's Thirty Five Ventures and LionTree

Infinite Acquisition, a blank check company backed by Kevin Durant's Thirty Five Ventures and LionTree targeting tech, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by Co-CEO and Director Kevin Durant, an NBA player for the Brooklyn Nets and co-founder of Thirty Five Ventures; Co-CEO and Director Rich Kleiman, a co-founder of Thirty Five Ventures; and Chairman Aryeh Bourkoff, founder and CEO of LionTree. The company plans to target technology-enabled platforms disrupting the traditional worlds of sports, health, wellness, food, commerce, and culture.

Infinite Acquisition plans to list on the NYSE under the symbol NFNT.U. Credit Suisse acted as sole bookrunner on the deal.