Two months after terminating a merger deal with ticketing platform SeatGeek, RedBall Acquisition disclosed plans to liquidate. Share redemptions begin agt the close of business Aug. 17. Redball’s deal deadline was Aug. 22.
The business combination with SeatGeek, which was cancelled June 1. had an implied enterprise value of approximately $1.35 billion. The mutual decision to terminate was based on market conditions, the parties said at the time.
The SPAC in a press release announcing the liquidation acknowledged it would be unable to reach and close another deal by the deadline this month.
RedBall is a $575 million SPAC sponsored by an affiliate of RedBird Capital Partners under the control of “MoneyBall” figure Billy Beane. Read more.
