Esports startup ReKTGlobal is in talks to go public through a merger with former NBA star Baron Davis’s blank-check firm, Bull Horn Holdings Corp. The special purpose acquisition company is discussing raising a so-called private investment in public equity, or PIPE, to support the transaction, which is set to value the combined entity at more than $400 million, said those close to the deal.
Bull Horn, led by Chief Executive Officer Rob Striar, raised $75 million in an October 2020 initial public offering. The SPAC counts Davis as a board member. It said at the time it would focus on “leading sports, entertainment, and brand companies that have potential for brand and commercial growth.”
ReKTGlobal, founded by Dave Bialek and Amish Shah, connects brands with Gen Z-aged esports and video-game enthusiasts. It has worked with State Farm, NortonLifeLock Inc., and Kia Corp. It owns esports teams including Rogue and the London Royal Ravens.
(All information was provided by Bloomberg)
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