The company is led by its CEO Jason Ader, who is a gaming industry analyst and also CEO of SpringOwl Asset Management, with John Lewis performing in the role of CFO.
The IPO is of 24m units priced at $10 each, which began trading on Nasdaq today on 15 January under the ticker symbol ADERU.
Each unit consists of one share of the company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock for $11.5 per share.
The SPAC is a blank check company formed to effect a merger or asset acquisition and intends to concentrate on identifying businesses in the gaming sector, among others in the technology and e-commerce industries.