NEW YORK, Dec. 17, 2020 /PRNewswire/ -- Marquee Raine
Acquisition Corp. (the "Company") (Nasdaq: MRAC U) today announced
the closing of its initial public offering of 37,375,000 units,
which includes 4,875,000 units issued upon the exercise of the
underwriters' overallotment option, which was exercised in full, at
a public offering price of $10.00 per
unit. Each unit consists of one Class A ordinary share of the
Company and one-fourth of one redeemable warrant. Each whole
warrant entitles the holder to purchase one Class A ordinary share
of the Company at a price of $11.50
per share. The units are listed on the Nasdaq Capital Market under
the symbol "MRAC U". Once the securities comprising the units begin
separate trading, the Class A ordinary shares and warrants are
expected to be listed on the Nasdaq Capital Market under the
symbols "MRAC" and "MRAC WS," respectively.
The Sponsor of the Company is Marquee Raine Acquisition Sponsor
LP, an affiliate of The Raine Group LLC ("The Raine Group") and
Marquee Sports Holdings SPAC I, LLC ("Marquee Sports
Holdings").
Credit Suisse Securities (USA)
LLC is acting as the book-running manager for the offering. The
offering is being made only by means of a prospectus. Copies of the
prospectus may be obtained for free by visiting EDGAR on the SEC's
website at www.sec.gov. Alternatively, copies of the prospectus may
be obtained for free from the offices of Credit Suisse, Attention:
Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, telephone:
(800)-221-1037 or by emailing:
usa.prospectus@credit-suisse.com.
Registration statements relating to the securities became
effective on December 14, 2020. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Marquee Raine Acquisition Corp.
Marquee Raine Acquisition Corp. is a newly incorporated blank
check company whose business purpose is to effect a merger, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses or
entities. While the company may pursue an acquisition opportunity
in any business industry or sector, it intends to focus on high
growth sectors of TMT including, but not limited to, opportunities
in interactive entertainment and games, real money gaming, digital
media, sports and sports-enabled assets, health and wellness,
out-of-home and live entertainment, audio content and podcasting,
technology, or other opportunities in adjacent sectors.
About The Raine Group
The Raine Group is a global merchant bank focused exclusively on
technology, media, and telecommunications. The firm has offices in
New York, San Francisco, Los
Angeles, London,
Shanghai, and Mumbai. With a global reach, Raine focuses on
investment and advisory opportunities where its deep industry
experience and unique network of strategic relationships can create
value for portfolio companies and clients. For more information,
visit www.raine.com.
About Marquee Sports Holdings
Marquee Sports Holdings is a leading sports, media,
entertainment and hospitality company founded by the owners and
management team of the Chicago Cubs and its subsidiaries and
related parties.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements contained in this press release constitute
forward-looking statements. All of these statements are based on
management's expectations as well as estimates and assumptions
prepared by management that, although they believe to be
reasonable, are inherently uncertain. These statements involve
risks and uncertainties, including, but not limited to, economic,
competitive, governmental and technological factors outside of
Company's control that may cause its business, industry, strategy,
financing activities or actual results to differ materially. The
Company undertakes no obligation to update or revise any of the
forward-looking statements contained herein, whether as a result of
new information, future events or otherwise.
Contact:
For The Raine Group
Mary Beth
Grover/Taylor Ingraham
ASC Advisors
203 992 1230
mbgrover@ascadvisors.com / tingraham@ascadvisors.com
For Marquee Sports Holdings
Dennis Culloton
Culloton + Bauer Luce
Office 312.228.4780
Mobile 630.699.8811
dc@cullotonbauerluce.com
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SOURCE Marquee Raine Acquisition Corp