MMA organiser One Championship mulling US SPAC deal
[HONG KONG] Asian mixed martial arts firm One Championship is considering options including seeking a listing in the US via a merger with a special purpose acquisition company (SPAC), according to people familiar with the matter.
The Singaporean sports media company has picked Credit Suisse Group and Goldman Sachs Group to help prepare for the potential listing, the people said. The rival to Ultimate Fighting Championship has held preliminary discussions with several SPACs, they said, asking not to be identified because the deliberations aren't public.
The company, whose valuation is more than US$1 billion, could also raise capital via other routes including an initial public offering or seeking funds privately, they said.
Discussions are preliminary and no final decision has been made, the people said. Representatives for Credit Suisse, Goldman Sachs and One Championship declined to comment.
One Championship is backed by investors including Sequoia Capital and Singapore state investment firms Temasek Holdings and GIC, according to its website. Its events span martial arts and combat sports including Muay Thai, kickboxing, karate and Taekwondo and are broadcast in more than 150 countries.
BLOOMBERG
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Indonesia agritech startup Elevarm bags US$2.6 million in seed round led by Insignia
Grab-led GXBank teams up with Zurich to offer affordable insurance
GoTo eyes private placement of 120.1 billion shares
SoftBank leads US$1 billion funding for UK self-driving startup Wayve
Singapore battles to revive struggling stock market
NSG BioLabs bags US$14.5 million funding; inks tie-ups with Merck, EnterpriseSG