The Topps Company and Mudrick Capital Acquisition II today said the SPAC has filed a definitive proxy on Schedule 14A with the SEC and set a stockholders meeting to vote Aug. 25 on the proposed merger of the companies.
If approved, upon closing the sports and entertainment collectibles company will list on the Nasdaq under new ticker symbol TOPP.
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. Read more.
