Bullpen Parlay Acquisition, a blank check company targeting the online gaming, sports, and hospitality industries, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The San Francisco, CA-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Bullpen Parlay Acquisition would command a market value of $250 million.
The company is led by Executive Chairman Paul Martino, a co-founder and General Partner of venture firm Bullpen Capital; President Eric Wiesen, a General Partner of Bullpen Capital; and CEO David VanEgmond, the founder and CEO of Bettor Capital, an investment and consulting platform focused on the US sports betting and online real money gaming space. The company plans to leverage management's experience and target the online real money gaming, technology, sports, digital media, hospitality, and leisure industries.
Bullpen Parlay Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol BPACU. Citi is the sole bookrunner on the deal.
