SportsMap Tech Acquisition registered to offer 10 million units at $10 each. A unit consists of one share of common stock and three-quarters of a warrant. Because only whole warrants will trade, investors would need to hold at least two units to have a full warrant and at least four units to avoid losing a quarter of a warrant.
The new SPAC will focus on companies engaged in sports technologies, including fan engagement, health and wellness, Esports, and fantasy sports and gambling.
CEO David Gow founded Gow Media, a multi-platform media company with a portfolio including ESPN Radio Houston, the SportsMap Radio Network and digital content sites, CultureMap, SportsMap, InnovationMap and AutomotiveMap.
Roth and Craig-Hallum are joint book-running managers. The over-allotment option for the underwriters is 1.5 million units.
The SPAC has applied to list on the Nasdaq under SMAPU. Read more.
