Music Acquisition, a blank check company targeting the music sector, raised $200 million by offering 20 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 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 plans to list on the NYSE under the symbol TMAC.U. Citi and Cantor Fitzgerald acted as lead managers on the deal.
