Coliseum Acquisition Corp. *

Coliseum Acquisition Corp. *

Mar 19, 2021 by Nat Judge

PROPOSED BUSINESS COMBINATION: Rain Enhancement Technologies, Inc.

ENTERPRISE VALUE: TBD
ANTICIPATED SYMBOL: RAIN

Coliseum Acquisition Corp. proposes to combine with Rain Enhancement Technologies, Inc.

RET was founded to provide the world with reliable access to water, one of life’s most important resources. To achieve this mission, RET aims to develop, manufacture and commercialize ionization rainfall generation technology. This weather modification technology seeks to provide the world with reliable access to water, and transform business, society and the planet for the better.


SUBSEQUENT EVENT – 1/7/25 – LINK

  • The SPAC has entered into a non-committal Forward Purchase Agreement with Meteora Capital Partners involving 750,000 shares at an approximate price of $11.41/Share.
  • The SPAC closed on $700,000 of PIPE Investment and issued an aggregate of 61,474 shares to undisclosed investors at an approximate price of $11.39/Share.
  • As previously disclosed, in November 2023, Harry You entered into non-redemption agreements with certain of Coliseum’s existing shareholders and unnamed investors, pursuant to which the Extension Non-Redeeming Shareholders agreed not to redeem an aggregate of 2,023,236 of Coliseum’s public shares at an approximate price of $11.41/Share.

SUBSEQUENT EVENT – 12/30/24 – LINK

  • The SPAC entered into a subscription agreement with undisclosed investors, to subscribe for and purchase in a private placement, an aggregate of 83,429 shares of Class A common stock of the Company at a purchase price of approximately $11.39 per share, for an aggregate of $950,000 (the “PIPE Investment”).
  • Pursuant to the PIPE Subscription Agreements, the Company expects to close on an aggregate of $800,000 of the PIPE Investment and accordingly would issue approximately 70,256 PIPE Shares at the closing of the Business Combination, and to close on the remaining $150,000 of the PIPE Investment and would issue the remaining 13,173 PIPE Shares following the closing of the Business Combination.

EXTENSION – 12/26/24 – LINK

  • The SPAC approved the extension from December 25, 2024 to February 28, 2025.
    • 856,188 shares were redeemed.
    • $17.5k will be deposited into the trust account to extend to December 31, 2024.
    • $75k per month will be deposited into the trust account to extend to February 28, 2025.

SUBSEQUENT EVENT – 12/18/24 – LINK

  • Coliseum Acquisition Sponsor, LLC and Berto, LLC entered into an agreement with the SPAC to exchange, at the closing of the Business Combination, all 3,225,000 outstanding Private Placement Warrants for Class A common stock of the combined company at an exchange ratio of 0.25 shares per Private Placement Warrant.
  • The combined company will issue an aggregate of 806,250 shares to the former holders of Private Placement Warrants at the closing of the Business Combination and such Private Placement Warrants will be cancelled and no longer outstanding.
  • The shares issued in connection with the Warrant Exchange will be subject to a two-year lockup following the closing of the Business Combination.

TRANSACTION

  • RET has a pre-closing valuation of $45 million.
  • Coliseum had approximately $31 million in cash held in its trust account as of March 31, 2024.
    • The balance remaining after redemptions and transaction expenses will be used for funding development, innovation and commercial scale.
  • The Business Combination is expected to close in the third quarter of 2024.

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SPAC FUNDING

  • The SPAC is expected to raise up to $50 million in equity financing.
  • Please refer to the Subsequent Event on 1/7/25 for the most up to date funding details.

SPONSOR SUPPORT AGREEMENT

  • The Sponsors agreed that they will share, pro rata, in the forfeiture of an aggregate of 606,971 Coliseum Class A Ordinary Shares required to be forfeited at the Closing pursuant to the terms of previously-disclosed non-redemption agreements entered into by Coliseum, the Sponsor Affiliate, and certain non-redeeming holders in connection with an extension of the time that Coliseum has to consummate its initial business combination.
    • The Sponsor Affiliate will also elect to convert all issued and outstanding Coliseum Class B Ordinary Shares on a one for one basis, into Coliseum Class A Ordinary Shares in connection with the Closing.

LOCK-UP

  • Company and Sponsor
    • Two years following the Closing Date
    • Warrants, and any shares received upon exercising the warrant, will not be tradable until the earlier of 30 days after the Closing Date and the date on which Holdco completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of Holdco’s stockholders having the right to exchange their shares of Holdco Common Stock for cash, securities or other property.

NOTABLE CONDITIONS TO CLOSING

  • Holdco having obtained the Closing D&O Policy.
  • The sum of the funds contained in the trust account, together with the cash on Coliseum’s balance sheet and the aggregate amount of gross proceeds from any Closing Offering, being equal to or greater than $10,000,000 (minimum cash condition).

NOTABLE CONDITIONS TO TERMINATION

  • The Business Combination Agreement may be terminated by either Coliseum or RET if the Closing has not occurred on or prior to December 25, 2024 (the “Outside Date”).
  • On 12/27/24, the Outside Date was extended to February 28, 2025. LINK

ADVISORS

  • Company
    • TCF Law Group, PLLC is acting as legal counsel.
  • SPAC
    • White & Case LLP is acting as legal counsel.

EXTENSION – 11/27/23 – LINK

  • The SPAC approved the extension from Extending from November 25, 2023, to June 25, 2024, with a possible three-month extension to September 25, 2024, decided by the Board without another shareholder vote.
    • 3,001,840 shares were redeemed at the meeting for $10.70 per share.
    • No contribution will be made into the trust account.

SUBSEQUENT EVENT – 11/24/23 – LINK

  • The SPAC entered into a non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 2,045,000 shares
    • The Sponsor will transfer 460,000 Class B shares to the non-redeeming shareholders

SUBSEQUENT EVENT – 6/27/23 – LINK

  • Coliseum Acquisition Corp., Coliseum Acquisition Sponsor LLC, and Berto LLC entered into a Purchase Agreement. In this deal, the Sponsor agreed to sell 2,625,000 Class B ordinary shares and 2,257,500 private placement warrants of the Company to the Acquirer.
    • The purchase price for these Transferred Securities was $1.00, along with the Acquirer’s commitment to advance funds to the Company related to a shareholder vote to approve an Extension.

EXTENSION – 6/22/23 – LINK

  • The SPAC approved the extension from June 25, 2023 to June 25, 2024.
    • 9,121,799 shares were redeemed.
    • $100K per month will be deposited into the trust account.

MANAGEMENT & BOARD


Executive Officers

Charles E. Wert, 79 [APPOINTED on 7/25/23] [Resigned]
Chief Executive Officer

Charles E. Wert, 79, has served as the Chief Executive Officer of Coliseum Acquisition Corp. since July 25, 2023. Mr. Wert has served on the board of directors of dMY Squared Technology Group, Inc. since the completion of its initial public offering in October 2022. Mr. Wert served as a director and chairman of the audit committee of GTY Technology Holdings, Inc. from completion of its initial public offering in 2016 until the completion of its merger with GI Georgia Midco, Inc. in 2022. From 2014 to 2016, Mr. Wert served as the vice chairman and as a director at Evercore Trust Company, N.A., or Evercore, which he formed and organized and was previously the president and chief executive officer from 2009 to 2014. Prior to joining Evercore, Mr. Wert served as an executive vice president and senior trust officer of U.S. Trust Company N.A. for over 20 years. Mr. Wert also founded United Mercantile Bank and Trust Company and served as its president and senior trust officer from 1982 until 1987. Mr. Wert is the principal of Fiduciary Resolutions, where he has been a fiduciary expert since June 2016, providing expert witness services and analysis as well as reviewing corporate governance and other processes use by fiduciaries. Mr. Wert holds a bachelor’s degree in Business Administration and Finance from California State University at Los Angeles.


Oanh Do Ngoc Truong, 34 [APPOINTED on 7/25/23]
Chief Financial Officer, Chief Executive Officer

Oanh Do Ngoc Truong, 34, has been the Chief Financial Officer of Coliseum Acquisition Corp. since July 25, 2023. Ms. Truong is also the controller at Berto LLC. Ms. Truong brings eight years of financial consulting and management experience to Coliseum Acquisition Corp. Prior to joining the company, Ms. Truong was a Director at WilliamsMarston, a boutique accounting advisory firm serving pre-IPO, public and private equity-backed growth companies on a variety of technical accounting, SEC reporting and capital markets transactions. Ms. Truong holds an M.A. in Professional Accounting from University of Texas at Arlington and a B.A. in Finance from California State University at Fullerton, where she graduated cum laude at both.


Harry L. You, 64 [APPOINTED] [RESIGNED as CEO 7/25/23]
Chief Executive Officer and Chairman

Harry L. You, 64, has served as Co-Chief Executive Officer of dMY Squared Technology Group (“dMY Squared”) since March 2022. He was Chief Financial Officer from September 2016 to August 2019 and President in May 2019 and from September 2016 to February 2019 of GTY Technology Holdings Inc. (“GTY”), a software as a service company that offers cloud-based solutions for the public sector. He was Executive Vice President in the Office of the Chairman of EMC Corporation (“EMC”) from 2008 to 2016. When Mr. You joined EMC in 2008, he oversaw corporate strategy and new business development, including mergers and acquisitions, joint ventures and venture capital activity. He was Chief Executive Officer from 2005 to 2007 and Interim Chief Financial Officer from 2005 to 2006 of BearingPoint Inc. He was Executive Vice President and Chief Financial Officer of Oracle Corporation from 2004 to 2005. Prior to joining Oracle, he held several key positions in finance, including as Chief Financial Officer of Accenture Ltd. and managing director in the Investment Banking Division of Morgan Stanley. He has also served as a trustee of the U.S. Olympic Committee Foundation since 2016. Mr. You served as Vice Chairman of the board of GTY from February 2019 to July 2022 and as director of Coupang, Inc. from January 2021 to June 2023, Genius Sports Limited from April 2021 to December 2022, Rush Street Interactive, Inc. from September 2019 to June 2022, dMY Technology Group, Inc. II (a special purpose acquisition company) from June 2020 to April 2021, dMY Technology Group, Inc. IV (a special purpose acquisition company) from December 2020 to December 2021, and Korn/Ferry International from 2005 to 2016.


Jason Stein, 36 [RESIGNED]
Co-Chief Executive Officer and Director

Mr. Stein general partner at SC Holdings. He is on the board of directors of Hyperice, a late-stage recovery technology company; serves as Special Advisor at the SpringHill Company, LeBron James and Maverick Carter’s entertainment platform; is Chairman of Front Office Sports, the first mass-market daily sports email newsletter ecosystem; and a Board Director at Transmit Live, a high-growth live streaming technology business. Since founding SC Holdings in 2018, Mr. Stein has led investments into 10 companies within our Core Sectors. Previously, Mr. Stein was founder and Chief Executive Officer of Cycle Media, an award-winning media and advertising holding company, which he built to six offices in the U.S. and Europe and sold to Wasserman, a global sports agency. Mr. Stein holds an MA from the University of Miami School of Communication and a BS in Sports Management from NYU.


Daniel Haimovic, 37 [RESIGNED]
Co-Chief Executive Officer and Director

Mr. Haimovic co-founder and general partner at SC Holdings and the Chief Executive Officer of Eastbridge Group, a family holding company with $1.5 billion in assets under management. At Eastbridge, Mr. Haimovic oversees Eastbridge’s operations as well as the divestitures of certain of its assets, which previously included: the Smyk Group to Bridgepoint Partners for approximately $300 million; Empik, Empik Schools and Empik.com (the leading consumer media retailer in Poland) to Penta Investments; and Optimum Distribution (a leading distributor of clothing and consumer products to Eastern Europe) to the Orbico Group. In 2016, he led the sale of 63 & 67 Wall Street to Rockpoint Group for approximately $435 million. He led the refinancing of 20 Exchange Place for approximately $268 million by Freddie Mac, the refinancing of 70 Pine Street by Brookfield Partners in 2017 and by Goldman Sachs in 2019 for approximately $386 million. Since becoming Chief Executive Officer of Eastbridge in 2015, Mr. Haimovic has led investments in more than 20 companies in a variety of sectors, including real estate and technology. Mr. Haimovic sits on the board of directors of Realview Imaging, an Israeli medical imaging company; as well as the Downtown Alliance, which manages the Downtown-Lower Manhattan Business Improvement District (BID). Mr. Haimovic was previously on the board of directors of Smyk Group, Empik Group and Optimum Distribution. Previously, he worked for Alexandria Real Estate Equities. Mr. Haimovic holds an MBA from the Wharton School of University of Pennsylvania and an AB in Biology from Harvard College.


Jason Beren, 37 [RESIGNED]
Chief Financial Officer

Mr. Beren joined Eastbridge Group in 2014 as Group Treasurer and has been Chief Financial Officer since 2015. At Eastbridge, Mr. Beren has supported the refinancings of Empik Media Fashion, 20 Exchange Place and 70 Pine Street. He has worked closely on more than 20 Eastbridge investments in a variety of sectors including multi-unit retail and technology. Before joining Eastbridge, Mr. Beren worked at Deutsche Bank for nine years, serving as Director in the Capital Markets and Treasury Solutions division. At Deutsche Bank, he was responsible for advising multinational corporations on mitigating the market risk of financing strategies and implementing structured financial solutions. Mr. Beren holds an AB with honors in Economics from Harvard College.


Andrew Fishkoff, 41 [RESIGNED]
Chief Operating Officer and General Counsel

Mr. Fishkoff joined Eastbridge Group in 2017 as Chief Operating Officer and General Counsel. At Eastbridge, Mr. Fishkoff oversees all U.S. and international legal matters, working on all acquisitions, financings, joint ventures and investments. Mr. Fishkoff has represented both SC and Eastbridge in their sports and media investments in Hyperice, Front Office Sports and Transmit Live, as well as their investment in eegee’s, an Arizona-based quick service restaurant chain with over two dozen locations. Before joining Eastbridge, Mr. Fishkoff served as the General Counsel for Macklowe Properties and Rockrose Development Corp., both New York-based real estate developers and owners, where he helped lead financings and joint ventures. Mr. Fishkoff previously worked in the finance group at Latham & Watkins. Mr. Fishkoff holds a JD from Harvard Law School and BA from Brown University.


Board of Directors

Roland Rapp, 62 [APPOINTED on 7/25/23]
Director

Roland Rapp, 62, serves as chairman of the board and a member of the compensation, audit and risk committees of the board of Signature HealthCare, an organization operating skilled nursing facilities, assisted living, home health agencies and associated ancillary support companies. Mr. Rapp joined the board of Signature HealthCare in 2017 and was elected as board chairman in May 2018 following the company’s restructuring. From 2015 to 2019, Mr. Rapp was a director of WalkJoy, a privately held medical device company. From 2015 to 2020, Mr. Rapp was the co-founder, owner and chief financial officer of SR Administrative Services, Inc. and affiliated long-term care companies. Mr. Rapp was the Executive Vice President, Chief Administrative Officer and General Counsel of Skilled Healthcare Group, Inc., a healthcare holding business, from 2002 to March 2015, where he was responsible for managing all legal affairs of the company, including financial and organizational restructurings, mergers and acquisitions, SEC reporting, executive compensation and board of directors matters. From 1993 to 2002, Mr. Rapp was Managing Partner of Rapp, Kiepen and Harman, a law firm, where he specialized in health care law, civil and regulatory defense, labor, business, transactional, real estate and tax matters. Mr. Rapp is a nationally-recognized expert in health care law and is a member of the American Health Care Association Legal Committee, which he chaired from 2009 to 2013. Mr. Rapp is licensed to practice law in the State of California. He received a J.D. and LLM in taxation from Golden Gate University and a Bachelor of Science from California Polytechnic State University. The Board has determined that Mr. Rapp is well-qualified to serve on the Board due to his public company board experience and his 30 years of experience as a practicing attorney.


Kenneth Rivers, 58 [APPOINTED on 7/25/23]
Director

Kenneth Rivers, 58, serves as the Chief Operating Officer, External Networks of Kaiser Permanente, San Bernardino County Service Area, a health care provider and nonprofit health plan. Mr. Rivers joined Kaiser Permanente in 2016. He previously served as the president of Manta Advisors, LLC, a strategic consulting firm for medical groups and hospitals, from 2003-2016. Prior to that, he served as president and chief executive officer of CHA Health Systems, Inc. from 2012-2014 and as the company’s chief administrative officer from 2014-2015. Mr. Rivers also previously held executive roles at Universal Healthcare System, Vanguard Healthcare and Tenet Healthcare. Mr. Rivers served on the local boards of Rotary International and the Fontana, California Chamber of Commerce, was the Board Chairman of three chapters of the American Red Cross which cover 1.3 million people (Riverside County, San Gabriel Valley, and Greater Long Beach, California) and Disaster Liaison for the San Gabriel Valley chapter of the American Red Cross and served on the boards of the local and Los Angeles regional chapters of the American Heart Association. He is also a fellow of the American College of Healthcare Executives. Mr. Rivers holds a Bachelor of Science in Neurosciences from Brown University and a Masters of Science and MBA in Healthcare Administration from University of La Verne. The Board has determined that Mr. Rivers is well-qualified to serve on the Board due to his over 30 years of experience as a senior healthcare executive and his extensive experience on the boards of numerous professional and community organizations.


Walter Skowronski, 74 [APPOINTED on 7/25/23]
Director

Walter Skowronski, 74, has more than 40 years of experience as a senior financial executive of NYSE-listed public companies. From 2003 to his retirement in 2009, Mr. Skowronski served as Senior Vice President of The Boeing Company and President of Boeing Capital Company, a wholly-owned Boeing subsidiary responsible for arranging, structuring and providing financing for Boeing’s commercial airplane and space and defense products and services. While at Boeing, Mr. Skowronski instituted new risk management, customer relations and investor outreach programs. Previously, he served as Senior Vice President of Finance and Treasurer of Boeing from 1999 to 2003. Mr. Skowronski joined Lockheed Corp. in 1990, where he served as Vice President and Treasurer and Vice President of Investor Relations. Mr. Skowronski became Vice President and Treasurer of Lockheed Martin in March 1999 upon the merger of Lockheed Corp. and Martin Marietta Corp. and developed the new finance and treasury function for the organization. Mr. Skowronski is a former director of the National Investor Relations Institute, serving as its chairman and chief executive officer in 1989. He currently serves on the board of Physicians Insurance Company and previously was a member of the board of directors of United States Enrichment Corp. (USEC) from 2011 to the company’s emergence from Chapter 11 bankruptcy in September 2014 and was the Lockheed Martin-designated director on the board of directors of Calcomp Corp. from 1997 to 1999. Mr. Skowronski holds a Bachelor’s of Electrical Engineering from Northeastern University. The Board has determined that Mr. Skowronski is well-qualified to serve on the Board due to his extensive experience as a senior financial executive and his experience as a director at multiple public and private companies.


Romitha Mally, 51 [RESIGNED 6/26/23]
Board Chairman Nominee

During her career, Ms. Mally has provided strategic and financial advisory to many public and private companies in the consumer and retail industry around the globe. Ms. Mally has helped orchestrate mergers between independent brands and conglomerates including Unilever’s acquisition of the Dollar Shave Club, Sundial Brands and The Laundress. Ms. Mally has also helped take companies public, including Blue Buffalo, for whom she also negotiated a sale to General Mills in a deal that was valued at $8 billion in 2018. Ms. Mally was a Vice Chairman in Investment Banking at UBS from February 2019 to March 2020, a Managing Director and Head of Consumer Corporate Advisory for North America at Greenhill & Co., Inc. from April 2018 to January 2019, a Managing Director at JP Morgan from August 2013 to March 2018, and an equity research analyst at Goldman Sachs covering the packaged food sector from 1995 to 2005. Ms. Mally holds a BSc in Economics from the London School of Economics and an MBA in Finance from the University of Chicago.


Rich Paul, 40 [RESIGNED 6/26/23]
Director Nominee

Mr. Paul is Chief Executive Officer and Founder of Klutch Sports Group, the powerhouse sports agency representing some of the biggest athletes across the NBA and NFL. Mr. Paul founded Klutch in 2012 in his hometown of Cleveland, Ohio where he forged a unique and personal approach to representing some of the top NBA talent?—?putting athletes first and empowering them to build careers and brands on and off the court. In 2019, Klutch partnered with United Talent Agency, an evolution that led to the expansion into NFL. Mr. Paul continues to be a leading agent in the space and in 2019 was named GQ’s “Power Broker of the Year” and “The King Maker” on the cover of Sports Illustrated. Variety recently named Mr. Paul to their “Variety500” list of the most influential business leaders shaping the global media industry. He is also credited with driving the reversal of the so-called “Rich Paul Rule,” which would have banned agents without a college degree from representing NCAA student athletes.


Jim Lanzone, 50 [RESIGNED 6/26/23]
Director Nominee

Mr. Lanzone is the Chief Executive Officer of Tinder, the world’s most popular app for meeting new people. Tinder has been downloaded more than 400 million times and is responsible for more than 55 billion matches worldwide. Previously, Mr. Lanzone was the Chief Digital Officer of CBS Corporation and President and Chief Executive Officer of CBS Interactive, a top 10 consumer Internet property with more than 300 million monthly visitors across its sites. Mr. Lanzone led the digital transformation of CBS Corporation, drove CBS Interactive to record financial and audience growth, and led the creation, launch and growth of streaming services CBS All Access, CBSN and CBS Sports HQ. Mr. Lanzone joined CBS Interactive in 2011 after its acquisition of Clicker Media, an Internet video search and programming guide, where he was Founder and Chief Executive Officer. Mr. Lanzone previously served as Chief Executive Officer of Ask.com (formerly Ask Jeeves), a division of IAC/InterActiveCorp. Mr. Lanzone joined Tinder from Benchmark Capital where he was Executive-in-Residence. Mr. Lanzone holds a JD and MBA from Emory University and a BA from UCLA.


Andrew Heyer, 63 [RESIGNED 6/26/23]
Director Nominee

Mr. Heyer is a finance professional with over 40 years of experience investing in the consumer and consumer-related products and services industries as well as a senior banker in leveraged finance during which time his clients included many large private equity firms. Over that time frame, he has guided several public and private companies as a member of their boards of directors. Currently, Mr. Heyer is the Chief Executive Officer and Founder of Mistral Equity Partners, a private equity fund that invests in the consumer industry. Prior to founding Mistral, Mr. Heyer served as a Founding Managing Partner of Trimaran Capital Partners, a $1.3 billion private equity fund. Mr. Heyer was formerly a vice chairman of CIBC World Markets Corp. and a co-head of the CIBC Argosy Merchant Banking Funds. Prior to joining CIBC World Markets Corp., Mr. Heyer was a founder and Managing Director of The Argosy Group L.P. Before Argosy, Mr. Heyer was a Managing Director at Drexel Burnham Lambert Incorporated and, previous to that, he worked at Shearson/American Express. Mr. Heyer currently serves as President and on the board of directors of Haymaker Acquisition Corp. III, a special purpose acquisition company seeking to acquire and operate a business in the consumer and consumer-related products and services industries. Mr. Heyer currently serves on the board of directors of ARKO Corp. (NASDAQ: ARKO) and previously served as Haymaker Acquisition Corp. II’s President until consummation of its business combination with ARKO. Mr. Heyer currently serves on the board of directors of OneSpaWorld Holdings Ltd. (NASDAQ: OSW) and previously served as Haymaker Acquisition Corp. I’s President until consummation of its business combination with OneSpaWorld. He also serves on the board of directors of Tastemaker Acquisition Corp. (NASDAQ: TMKR) (“TMKR”), a blank check company which completed its $276 million initial public offering on January 12, 2021 and is searching for a target business in the restaurant, hospitality and related technology and service sectors, The Lovesac Company, Inc. (NASDAQ: LOVE) (where he serves as Chairman) as well as on the board of a private pet products company owned in part by Mistral, Worldwise, Inc. He also serves on the investment committee of AF Ventures, an investor in high-growth consumer product companies. Mr. Heyer holds an MBA and a BSc in Accounting from the Wharton School of the University of Pennsylvania.


Ezra Kucharz, 53 [RESIGNED 6/26/23]
Director Nominee

Mr. Kucharz has more than 20 years of experience with leading internet, sports, media and entertainment properties. He joined DraftKings as Chief Business Officer in October 2017. In this role, Mr. Kucharz is responsible for expanding DraftKings’ business strategy, advertising sales, international expansion and digital media, further solidifying the company’s position at the intersection of sports, technology and media, while advancing its footprint in the content space. Mr. Kucharz is responsible for bolstering the business and corporate development functions by identifying opportunities for strategic ventures and acquisitions. Additionally, Mr. Kucharz is a faculty member in Duke University’s Innovation and Entrepreneurship Initiative teaching Sports Entrepreneurship. Prior to joining DraftKings, Mr. Kucharz served as president of CBS Local Digital Media and special advisor to the CBS Chief Executive Officer. In this role, Mr. Kucharz oversaw online and mobile business across CBS’ Radio and Television stations. During his tenure, Mr. Kucharz’s leadership elevated CBS Local to one of the leading digital organization in local broadcast TV and radio. Mr. Kucharz has also held several senior-level positions at NBC Universal, founded one of the first online digital sports media companies, Total Sports, and worked for NASA in their Space Shuttle and Space Station Medical Operations divisions after serving as an Army Officer assigned to the Armor Branch. Mr. Kucharz holds a B.S. in Biomedical Engineering from Boston University, a master’s degree in Engineering Management from the University of Houston and a master’ s degree in Medical Informatics from Duke University.