Music Acquisition, a blank check company targeting the music sector, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Hollywood, CA-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Thunder Bridge III would command a market value of $250 million.
The company is led by CEO and Chairman Neil Jacobson, the founder of music management company Hallwood Media and former President of Geffen Records. He is joined by COO and Director Todd Lowen, who is a Managing Director at Olivetree Financial. Music Acquisition intends to concentrate on identifying businesses that are either directly or indirectly connected with the music sector.
Music Acquisition was founded in 2020 plans to list on the NYSE under the symbol TMAC.U. It filed confidentially on December 15, 2020. Citi and Cantor Fitzgerald are the joint bookrunners on the deal.
