- Briefing Your roundup of Asian tech and startup news that matter
Deepti Sri · · 1 min readSources: One Championship eyes IPO in the US via SPAC
“Asian mixed martial arts (MMA) firm One Championship is considering options including seeking a listing in the US via a merger with a special purpose acquisition company (SPAC),” reported Bloomberg, citing people familiar with the matter.
Details:
- The company has chosen Credit Suisse Group and Goldman Sachs Group to manage the potential listing. One Championship has entered preliminary talks with several SPACs, said the sources.
- However, it could also raise capital through a private fundraise or an initial public offering.
Context:
- The sports media entity’s net losses widened to US$99 million in 2019, with its marketing expenses exceeding its revenue.
- One Championship had also recently received criticism from some disgruntled ex-staff, journalists, and members of the MMA community that the organization isn’t as successful as what it’s made out to be.
Editing by Collin Furtado
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
