Sports SPAC Counter Press Acquisition prices $75 million IPO

Counter Press Acquisition, a blank check company targeting the sports, media, and data analytics sectors, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

Counter Press Acquisition is led by Chairman Randy Frankel, the co-owner of MLB team the Tampa Bay Rays; CEO and Director Paul Conway, the co-founder of Pacific Media Group; and CFO and Director Michael Kalt, the founder and managing member of Partners Path Capital. The company seeks to leverage management's experience and target the sports, media, and data analytics sectors, with a focus on professional sports businesses.

Counter Press Acquisition plans to list on the Nasdaq under the symbol CPAQU. BTIG and EarlyBirdCapital acted as joint bookrunners on the deal.