Mudrick Capital filed a preliminary proxy on its proposed business combination with sports collectibles and trading card company Topps. A shareholder vote date was not included in the filing.
Terms of the $571 million cash transaction include $250 million held in trust by the SPAC.
The deal values the combined enterprise at about $1.3 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 list on the Nasdaq under TOPP. Read more.
