Arctos NorthStar Acquisition, a blank check company formed by Arctos Sports Partners targeting the sports, media, and entertainment sectors, raised $275 million by offering 27.5 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may raise an additional $75 million at the closing of an acquisition pursuant to a forward purchase agreement with an affiliate of the sponsor.
The company is led by Chairman David O'Connor, a Managing Partner at Arctos Sports Partners and former CEO of The Madison Square Garden Company (NYSE: MSGS), and CEO and Director Theo Epstein, the former President of Baseball Operations for the Chicago Cubs and General Manager for the Boston Red Sox. Arctos Sports Partners founder Ian Charles serves as a Director. The company plans to target the sports, media, and entertainment sectors, focusing on sports teams, leagues, data & technology, digital infrastructure, and e-sports, among others.
Arctos NorthStar Acquisition plans to list on the NYSE under the symbol ANAC.U. Citi acted as a lead manager on the deal.
