Horizon Acquisition II, the second blank check company formed by Todd Boehly of Eldridge Industries targeting the media and entertainment industries, filed on Tuesday with the SEC to raise up to $500 million in an initial public offering.
The Greenwich, CT-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The sponsor intends to purchase $155 million worth of units in the offering. At the proposed deal size, Horizon Acquisition II would command a market value of $625 million.
The company is led by CEO, CFO, and Chairman Todd Boehly. Boehly is the co-founder and CEO of Eldridge Industries, a holding company with a network of businesses across finance, technology, real estate, and entertainment. Prior to founding Eldridge, he was President of Guggenheim Partners. Boehly's previous SPAC, Horizon Acquisition (HZAC.U), went public this past August and last closed up 4%.
The company plans to target the media and entertainment industries, specifically businesses with differentiated product and service offerings, across three broad themes: innovative platforms that support evolving consumer trends; next-generation technology that may unlock new markets and strong growth; and traditional media and entertainment businesses requiring an injection of capital due to exogenous shocks from the current environment.
Horizon Acquisition II was founded in 2020 and plans to list on the NYSE under the symbol HZON.U. The company filed confidentially on September 3, 2020. Deutsche Bank, Credit Suisse, and RBC Capital Markets are the joint bookrunners on the deal.
