Former WWE co-presidents Michelle Wilson and George Barrios are jumping into the SPAC space.
The duo filed plans to launch Isos Acquisition, a blank-check company targeting digital media and entertainment acquisitions. Isos aims to raise $200 million through an IPO, and could add an additional $75 million through a forward purchase agreement with Apollo Global Management.
If all goes according to plan, Isos will hold a market value of $250 million.
Isos’ filing specifically highlights growth projections for video games, amusement parks, sports betting and esports. The sports betting industry is projected to grow 65.4% from 2019-23 to $19 billion, the filing said; esports are projected to grow 58.5% to $7 billion in that period.
The number of early filings suggests SPACs will continue to pile into the market throughout 2021.
Last year, there were more than 250 SPAC shell companies listed in the U.S., and they raised nearly $79 billion combined.
The Isos SPAC comes after Wilson and Barrios formed Isos Capital Management earlier this month, eyeing investment opportunities in global media, entertainment, and sports.