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Here's Why I'm Adding To Horizon Acquisitions II On Deal Rumors


  • HZON is reportedly in talks with Sportradar AG.
  • The market has loved some of the earlier gaming/data companies.
  • Even though shares are up 18%, I've added some.
  • Potentially, the market hasn't fully priced in the seriousness of the rumor.
  • This idea was discussed in more depth with members of my private investing community, Special Situation Report. Get started today »

Bloomberg just reported that Horizon Acquisition Corp II (NYSE:HZON) is in talks to take Sportradar AG public. Bloomberg is a strong source of course. But the rumor is a bit lacking in detail. Some things that stood out to me:

A transaction value couldn't immediately be learned.

As with any deal that hasn't been finalized, it's possible terms change or talks fall apart.

No numbers are a bad sign in a rumor. There's no timeline either. Otherwise the article is mostly background info about Sportradar AG although some of it will get people excited.

Sportradar, led by Chief Executive Officer Carsten Koerl, counts Canada Pension Plan Investment, Revolution Growth, basketball star Michael Jordan and Mark Cuban among its backers. The National Football League invested in Sportradar in 2015 and in 2019, signing a multiyear deal for exclusive rights to distribute official NFL data to legal sports-betting operators in the U.S. and abroad.

Interestingly there's another article circulating by a lesser known sports-focused source (Sportshandle) about Sportradar AG that says a deal is finalized but the reporter doesn't know with which SPAC. The article is dated March 2 and the reporter, Matt Rybaltowski has written for the New York Times, The Guardian and Reuters. He does seem to have only one source and there are no new numbers. He did have a bit more on timeline indicating the formal announcement may come in the next few days but it wouldn't come Tuesday.

Sportradar has come to terms with a special purpose acquisition company on a reverse merger deal that will enable the company to go public, a source close to the negotiations told Sports Handle Monday evening.

The source, who spoke to Sports Handle on condition of anonymity, did not reveal the name of the SPAC or the terms of the

Data by YCharts

Check out the Special Situation Investing report if you are interested in special situations like spin-offs, share repurchases, rights offerings and M&A. Currently, the market is going bonkers for SPACs and I'm finding great opportunities in the space

This article was written by

Bram de Haas profile picture
Special-Situation And Event-Driven Ideas To Improve Risk Adjusted Returns
15 years of investing and I feel like a rookie in his first year at the academy. My roots are in the value school but over time I've learned to respect different approaches. I'm interested in what quants do, options traders do, and even what WallStreetBets is doing (keep your friends close and...)

I gravitate towards special-situations. That means situations around companies or the market where the price can move in a certain direction based on a specific event or ongoing event. This eclectic and creative style of investing seems to suit my personality and interests most closely.

Since 2020 I host a podcast/videocast where I discuss (special-situation/event-driven) market events and investment ideas with top analysts, portfolio managers, hedge fund managers, experts, and other investment professionals. I highly recommend it (pick episodes around topics that interest you) for the amazing guests that come on with regularity.

I've been writing for Seeking Alpha since 2013 after playing p0ker professionally. In 2018 I founded Starshot Capital B.V. A Dutch AIF manager. Follow me on Twitter @Bramdehaas or email me Dehaas.Bram at Gmail

Analyst’s Disclosure: I am/we are long PLTR, HZON, HZONU. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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