SPAC ESH Acquisition prices $100 million IPO, targeting entertainment, sports, and hospitality

ESH Acquisition, a blank check company led by industry veterans targeting entertainment, sports, and hospitality, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.

ESH Acquisition is led by CEO and Director James Francis, the founder and former CEO of Chesapeake Lodging Trust and Highland Hospitality, and Chairman Allen Weiss, a former consultant at Apollo Investment and President of World Wide Operations for the Walt Disney Parks and Resorts business. The company seeks to leverage management's experience to target the global entertainment, sports, and hospitality sectors. Areas of focus include professional sports franchises, luxury resorts, destination and regional theme parks, record labels, and music and television streaming services, among others.

ESH Acquisition plans to list on the Nasdaq under the symbol ESHAU. I-Bankers Securities and IB Capital acted as joint bookrunners on the deal.