cies Acquisition II, a special purpose acquisition company (SPAC) targeting live, location-based, and mobile experiential entertainment led by former MGM CEO James Murren, filed on Tuesday with the Securities and Exchange Commission (SEC) to raise up to $250 million in an initial public offering (IPO).
Acies is the name of the first SPAC created by Murren and his partners. It went public in October 2020 and has a pending merger agreement with game developer Playstudios. The sequel's units will trade on the Nasdaq under the ticker “ATWOU.”
The new blank-check company noted that it hasn’t yet identified a merger partner and that such a deal may not materialize. SPACs usually have two years to execute a deal or face forced liquidation.
“We are focused on identifying a business combination target within the live, location-based, and mobile experiential entertainment industries,” according to the S-1 filing. “Specific sectors that we will target span live events, family entertainment, casino gaming, destination hospitality, sports, sports betting, and iGaming. We will pursue both consumer-facing operators as well as the business-to-business platforms that support them. We are predominantly focused on the US, however, our search may expand to international markets.”
Zach Leonsis of Monumental Sports, owner of the Washington Wizards and Capitals; and Red Sox and Fenway Sports CEO Sam Kennedy join Murren on the Acies II board. They were on the board of the original Acies. The new SPAC will also be advised by Charlotte Hornets managing partner Curtis Polk who also runs the personal finances of team owner and NBA legend Michael Jordan.
The company is also led by Co-CEOs Daniel Fetters and Edward King, both of whom worked in investment banking at Morgan Stanley for 20 years and most recently served as Managing Directors.