Kevin Durant recently launched a $200 million special purpose acquisition company (SPAC), making him the latest celebrity to endorse a blank-check firm. A SPAC is a “blank check” shell corporation designed to take companies public without going through the traditional IPO process. Durant’s SPAC will trade under Ticker symbol “NFNT.U” on the New York Stock Exchange and be co-led by Durant and his longtime manager and business partner, Rich Kleiman. LionTree, an investment and merchant banking firm, has also joined the dynamic duo as a sponsor of the SPAC, according to
Minority Equality Opportunities Acquisition Inc, known as MEOA for short, is now the first Black-led special purpose acquisition company (SPAC) traded on the Nasdaq Capital Market. The news on the milestone move comes after MEOA, which will continue to focus on historically undercapitalized minority-owned or controlled businesses, closed a $126.5 million upsized IPO of units on August 30. Its founders – chairman Shawn Rochester and CEO Robin Watkins – believe “the mission and purpose of MEOA will help catapult minority enterprise in this country.” Mr. Rochester told the Seattle Times that as a
