Billy Beane-led SPAC raises $500M in IPO

Aug. 13, 2020 8:32 AM ETRedBall Acquisition Corp. Units (RBACU)RBACUBy: Stephen Alpher, SA News Editor
  • RedBall Acquisition Corp. (RBAC) announces the sale of 50M units at $10 each. The deal was led by Goldman Sachs.
  • Each unit contains one Class A common share and one-third of one warrant struck at $11.50 per share.
  • It's the first SPAC dedicated to sports, with Billy Beane of Moneyball fame serving as co-chairman. His fellow co-chair will be ex-Goldman partner Gerry Cardinale. The CEO will be former Cleveland Browns and Dallas Cowboy exec Alec Scheiner.
  • Previously: Billy Beane getting in on SPAC action (July 28)

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