Newbury Street Acquisition filed with the SEC to raise $150 million in an IPO of 15 million units priced at $10 each.
Newbury intends to target a disruptive technology business in the consumer internet or media space, including sports and entertainment verticals, with enterprise values of approximately $500 million to $2.5 billion.
The SPAC is led by Chairman Matthew Hong. From 2017 to 2019, he served as the COO of Turner Sports, a subsidiary of WarnerMedia and AT&T.
The SPAC plans to list on the Nasdaq under NBSTU. Read more.
