Sportsmap Tech Acquisition, a blank check company formed by the founder of Gow Media targeting sports tech, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The Houston, TX-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50. At the proposed deal size, Sportsmap Tech Acquisition would command a market value of $131 million.
The company is led by CEO David Gow, the founder and CEO of Gow Media, a multi-platform media company with a portfolio of platforms, including ESPN Radio Houston and the SportsMap Radio Network and digital content sites, among others. The company plans to leverage management's experience and target opportunities in sports tech, with a focus on fan engagement, health and wellness, esports, and fantasy sports and gambling.
Sportsmap Tech Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol SMAPU. The company filed confidentially on July 22, 2021. Roth Capital and Craig-Hallum Capital Group are the joint bookrunners on the deal.
