(Reuters) -Sports technology firm Enhanced said on Wednesday it would go public in the United States through a merger with special purpose acquisition company A Paradise Acquisition Corp, valuing it at $1.2 billion. Blank-check firms are staging a comeback on Wall Street this year after a prolonged downturn, with seasoned sponsors reviving special purpose acquisition […]
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Enhanced to list on Nasdaq in $1.2 billion SPAC deal
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(Reuters) -Sports technology firm Enhanced said on Wednesday it would go public in the United States through a merger with special purpose acquisition company A Paradise Acquisition Corp, valuing it at $1.2 billion.
Blank-check firms are staging a comeback on Wall Street this year after a prolonged downturn, with seasoned sponsors reviving special purpose acquisition companies as an alternative route to public listings.
Founded in 2023, Enhanced aims to reinvent elite sports and performance with products focused on health and longevity. The company plans to build a diversified business spanning live events, media, direct-to-consumer products and telehealth.
The transaction is expected to deliver up to $200 million in gross cash proceeds to Enhanced.
After the deal is completed, the combined company will be renamed Enhanced Group and list on the Nasdaq under the ticker “ENHA”, subject to regulatory approvals.
(Reporting by Pritam Biswas and Prakhar Srivastava in Bengaluru; Editing by Shilpi Majumdar)