Sports collectibles and trading card company Topps and Mudrick Capital Acquisition II will combine in a $571 million cash transaction, including $250 million held in trust by the SPAC, Mudrick announced today in a proxy filing.
The deal values the combined enterprise at $1.227 billion.
Former Disney CEO Michael Eisner, who bought Topps in 2007, will remain chairman. The 80-year-old company had sales of $567 million in 2020.
Mudrick II raised $250 million in an IPO last year, initially with the goal of targeting post-bankruptcy companies.
If approved by the SPAC’s stockholders, Topps will be listed on the Nasdaq under TOPP. Read more.
