Topps to go public via SPAC deal
The Topps Company, Inc., a New York-based producer of baseball cards and candy, will go public by merging with a special purpose acquisition company (SPAC) Mudrick Capital Acquisition Corporation II, in a deal that values Topps at $1.3 billion, The New York Times reported on tuesday.
The firm will be listed on the Nasdaq Stock Exchange under the new ticker symbol TOPP and will be called Topps. The deal is expected to be finalized in the late second or early third quarter. Former Disney CEO Michael Eisner will remain Topps’ chairman.
The company is most well-known for its collectible baseball trading cards and candy brands such as Bazooka and Ringpop. Last year, Topps also started selling trading cards as blockchain-based non-fungible tokens (NFTs).
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