D and Z Media Acquisition, a blank check company led by former NYSE/ICE executive Betty Liu targeting media and edtech businesses, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Betty Liu, who most recently served as the Executive Vice Chairman of the New York Stock Exchange and Chief Experience Officer for the Intercontinental Exchange. She is joined by CFO Mark Wiltamuth, who previously held various roles at Petco (WOOF) and worked in equity research at Morgan Stanley and Jefferies. The company plans to target the media, education technology, and other related industries.
D and Z Media Acquisition plans to list on the NYSE under the symbol DNZ.U. Goldman Sachs acted as lead manager on the deal.
