Mudrick Capital Acquisition II in an 8-K filing today included a lender presentation for its proposed merger with sports collectibles and trading card company Topps.
The $571 million cash transaction includes $250 million held in trust by the SPAC.
The deal values the combined company at an enterprise value of about $1.5 billion, based on the SPAC’s June 22 closing price.
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 list on the Nasdaq under TOPP. Read more.
