UTA has become the latest talent agency to play in the public markets, forming a special-purpose acquisition company that will start trading tomorrow on the NASDAQ. Under the ticker symbol “U…
has become the latest talent agency to play in the public markets, forming a special-purpose acquisition company that will start trading tomorrow on the NASDAQ.
Under the ticker symbol “UTAA,” the Cayman Islands-based UTA Acquisition Corp. will specifically target gaming, the creator economy and adjacent areas. SPACs are also known as “blank-check” companies, and have the obligation to complete acquisitions in order to form newly defined entities. A number of SPACs have launched in the entertainment sector over the last couple of years.in 2019, carried through with the plan last spring and now trades on the New York Stock Exchange.
With 20 million shares set to trade at $10 each, the value of the new entity is projected to generate $200 million. The company had filed with the SEC in November but announced final plans today after the close of the trading day..space is crowded, the UTA effort involves a number of notable names and looks to leverage the agency’s longtime gaming efforts. The chairman of the new entity is Reggie Fils-Aimé, the well-known former president of Nintendo of America.
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