The new SPAC intends to identify and acquire a business within the interactive media, digital media, sports, entertainment, and/or leisure, with a particular focus on video gaming, gaming adjacent, and new metaverse video gaming businesses. PowerUp is led by Bruce Hack, Jack Tretton, Michael Olson, and Gabriel Schillinger. Mike Vorhaus serves as a senior advisor.
Total SPAC deal count for 2022 year-to-date is now 41. This offering is expected to close on Wednesday, February 23.
Citigroup Global Markets Inc. is acting as sole book-running manager for the offering and Odeon Capital Group, LLC is acting as co-manager of the offering. McDermott Will & Emery LLP is serving as Issuer’s Counsel with Proskauer Rose LLP serving as Underwriter’s Counsel. Marcum LLP serves as an auditor. American Stock Transfer & Trust Company, LLC is acting as trustee.