COIN - NBA Superstar Kevin Durant launches $200M IPO for SPAC Infinite Acquisition Corp.

NBA superstar Kevin Durant is spearheading a $200M IPO for Infinite Acquisition Corp. (NFNTU), a new SPAC that will focus on bringing a sports business, health & wellness firm or other promising company public. Durant’s Thirty Five Ventures and financial firm LionTree filed paperwork with the U.S. Securities and Exchange Commission to sell 20M investment units for the special purpose acquisition company at $10 per unit. Each unit will consist of on Class A share and 0.5 warrants entitling the holder to buy a second share in the future at $11.50. Thirty Five Ventures and LionTree have also granted underwriters the option to buy as many as 3M extra shares for overallotments. All in, the initial public offering should raise $200M, or $230M if underwriters fully exercise their overallotment options. Plans call for Thirty Five Ventures and LionTree to be 50/50 partners in sponsoring the SPAC, whose units will trade

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NBA Superstar Kevin Durant launches $200M IPO for SPAC Infinite Acquisition Corp.