Gaming & Hospitality Acquisition, a blank check company formed by Affinity Gaming targeting the gaming and hospitality sectors, raised $175 million by offering 17.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by Chairman James Zenni Jr., the founder, CEO, and Chairman of Z Capital Group and Chairman of Affinity Gaming. He is joined by CEO and Director Mary Higgins, who is currently the CEO of Affinity Gaming, and CFO Andrei Scrivens, who serves in the same role with Affinity Gaming. Gaming & Hospitality Acquisition currently plans to merge with Affinity Gaming, a diversified casino gaming company headquartered in Las Vegas, Nevada, as well as other businesses in the gaming and hospitality sectors. However, it will not complete an initial business combination with only Affinity Gaming.
Gaming & Hospitality Acquisition plans to list on the Nasdaq under the symbol GHACU. Deutsche Bank acted as a lead manager on the deal.
