Topps, the trading card company, is going public
Updated April 6, 2021, 2 hours ago
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Sports trading card company Topps is combining with a special purposes acquisition company in a deal valued at $1.3 billion and seeking a public listing.Chitose Suzuki/Associated Press
Topps, known for its trading cards and Bazooka gum, is going public by merging with a blank-check firm in a deal that values the company at $1.3 billion, the DealBook newsletter was the first to report.
The transaction includes an investment of $250 million led by Mudrick Capital, the sponsor of the special purpose acquisition company, or SPAC, along with investors including Gamco and Wells Capital. Michael Eisner, the chairman of Topps and former chief executive of the Walt Disney Co., will roll his entire stake into the new company and stay on.
Cardmaker Topps to go public
MICHELLE CHAPMAN | Associated Press
In addition to its trading cards, fans will soon be able to trade shares of Topps.
The company said Tuesday that it will become a publicly traded company this year by tying up with a special purposes acquisition company, or SPAC.
Topps is pushing into digital sales, apps, cryptocurrency and even NFTs, or non-fungible tokens. Its subject matter has expanded to, among other things, comics, professional wrestling, Formula 1 and film.
Topps Co. said Tuesday that it will merge with Mudrick Capital Acquisition Corp., which will make a $250 million investment.
Topps was bought in 2007 by former Disney CEO Michael Eisner through his firm, The Tornante Co. Eisner will hold his position at Topps as chairman of the board. Michael Brandstaedter, CEO of Topps, will lead the company.
Topps Is Going Public, Tapping Craze for SPACs, NFTs and Trading Cards
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Mickey Mantle’s 1952 Topps rookie card is one of the most sought-after cards. While a Mantle with a rating of SGC 7 like this one is valuable, a version of the same card rated PSA Mint 9 recently sold for $5.2 million.Credit.Jeenah Moon for The New York Times
Topps, known for its trading cards and Bazooka gum, is going public by merging with a blank-check firm in a deal that values the company at $1.3 billion, the DealBook newsletter was the first to report.
Topps will offer stock to the public through SPAC finance-commerce.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finance-commerce.com Daily Mail and Mail on Sunday newspapers.
Trade announcement: Topps will offer stock to the public
MICHELLE CHAPMAN, AP Business Writer
April 6, 2021
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FILE - In this March 6, 2007 file photo, Topps baseball cards are seen in Boston. Sports trading card company Topps is combining with a special purposes acquisition company in a deal valued at $1.3 billion and seeking a public listing. Topps Co. said Tuesday, April 6, 2021, that it will join with Mudrick Capital Acquisition Corp., which will make a $250 million investment.Chitose Suzuki/AP
In addition to its trading cards, fans will soon be able to trade company shares of Topps.
The company said Tuesday that it will become a publicly traded company this year by tying up with a blank-check company, or SPAC, a special purposes acquisition company.