Athlon Acquisition, a blank check company formed by Causeway Media Partners targeting the health, wellness, and fitness space, raised $240 million by offering 24 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The company had originally filed to raise $200 million.
The company is led by Executive Chairman Mark Wan, co-founder and Managing Partner of Causeway Media Partners, an investment fund focused on the sports, fitness, and related industries. Wan is the co-owner of the Boston Celtics and the San Francisco 49ers, and was previously co-founding partner of Three Arch Partners. He is joined by CEO and Director Chris Hickey, the former CEO of No Cow and The Isopure Company, and former CMO of EXOS. The SPAC's CFO David Poltack currently serves as the CFO of Causeway Media Partners.
The Cambridge, MA-based company plans to target companies in the health, wellness, fitness, nutrition, and sports ecosystem, and the products, devices, applications, and technology driving growth within these verticals. It will target businesses with an enterprise value of $700 million to $2 billion. Sponsor Causeway's portfolio companies include SeatGeek, Peerfit, FloSports, Formula E, Freeletics, SportsEngine, and Omaze.
Athlon Acquisition plans to list on the Nasdaq under the symbol SWETU. Jefferies acted as sole bookrunner on the deal.
