Topps going public via SPAC

obiwan1129 · #1 04-06-2021, 08:45 AM

Just saw this...wow.

Another article... https://finance.yahoo.com/news/forme...120004064.html

smh on the NFT mention.

skelly423 · #2 04-06-2021, 09:02 AM

This will require them to open the books up to the world at large. If nothing else, it will be interesting to have some clarity on how many cards are printed in a given year.

Bored5000 · #3 04-06-2021, 09:09 AM

I had a warrant order filled at $1.76 per at open. We.ll see what happens.

steve B · #4 04-06-2021, 12:21 PM

I thought Topps was already public? They sold stock back in the early 80's.

sportscardpete · #5 04-06-2021, 12:27 PM

Quote:

Originally Posted by steve B

I thought Topps was already public? They sold stock back in the early 80's.

Think they were bought out in 2007. Then that shareholder wanted to cash out and they brought the company back to the public markets again

Frankish · #6 04-06-2021, 12:37 PM

Probably a smart move for the company (or at least its shareholders). The valuations are generally quite generous. Seems to be the case here, as well.

I'm a big fan of SPACs when sponsored/organized well. I've never heard of Mudrick Capital, but that doesn't mean much, as I'm not in the industry anymore. The traditional IPO market has/had become such a racket, and not particularly useful for non-tech companies.

Anyway, I'm not a buyer at this valuation, mostly just because I don't know the industry well and can't judge. But I wish them luck!

marzoumanian · #7 04-06-2021, 12:53 PM

From the press release:

"Topps had been publicly owned until 2007 when Madison Dearborn Partners and Tornante Company bought it for $385 million. Former Disney chairman and CEO Michael Eisner spearheaded that group and plans to stay on as chairman of the combined company�s board of directors. Michael Brandstaedter, will remain as President and Chief Executive Officer. The company will be traded on the NASDAQ exchange."

On a personal note, not a big fan of Eisner. He ran Disney for a long time. From all I have read about him he is difficult to work with. One story I remember reading: He wanted Tom Cruise to pay the role of Henry Hill in the classic movie "Goodfellas." Of course Ray Liotta ended up playing it and did an incredible job.

People do change. It will be interesting to see how this goes in the years ahead.

Peace.

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