Marquee Raine Acquisition Corp. (MRACU) Prices $325M IPO


Marquee Raine Acquisition Corp. (MRACU) Prices $325M IPO

Dec 14, 2020 INTEL by Kristi Marvin

Marquee Raine Acquisition Corp. announced the pricing of its $325 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “MRACU” tomorrow, Tuesday, December 15.

The new company aims to combine with a company that complements the sponsor’s and management team’s background in Technology, Media and Telecommunications (“TMT”) and related areas. Marquee Raine is led by Co-Chief Executive Officers, Crane H. Kenney and Brett Varsov. Thomas Ricketts and Brandon Gardner will be Co-Chairmen and Directors.

Total SPAC deal count for 2020 year-to-date is now 231 with $77.9 billion in gross proceeds raised. This offering is expected to close on Thursday, December 18.

Credit Suisse Securities (USA) LLC is acting as the book-running manager for the offering. Weil, Gotshal & Manges LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.