Tiger Woods-Backed SPAC Files to Seek Sports and Health Targets
(Bloomberg) -- A blank-check company backed by professional golfer Tiger Woods filed to raise $150 million in an initial public offering.
Sports & Health Tech Acquisition Corp., based in Orlando, Florida, said in its filing Thursday with the U.S. Securities and Exchange Commission that it plans to seek a merger target in the sports or health technology sectors with an enterprise value of $600 million to $1 billion.
Woods, who has been involved in an array of business ventures, is the lead investor in the special purpose acquisition company, which is his first participation in a blank-check firm. His SPAC follows those of other sports figures including former New York Yankees all-star Alex Rodriguez and San Francisco 49ers quarterback-turned-activist Colin Kaepernick.
The Woods SPAC is being led by Andrew White, who is chairman of LeAD Sports Ltd., a sports and health technology business. Its executives also include Mark Steinberg, a managing partner of Excel Sports Management who has represented Woods for more than 25 years, according to the filing.
Christopher Hubman, who has has been the chief financial officer of Tiger Woods Ventures since 2000, is also the CFO for the blank-check company. The management team includes tennis star Caroline Wozniacki and former National Basketball Association player David Lee.
RBC Capital Markets is acting as the sole bookrunner for the listing. Sports & Health Tech Acquisition plans to list its units on the Nasdaq Global Market under the symbol LDSPU.
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