New SPAC! - HZAC - Horizon Acquisition Corporation

New SPAC! - HZAC - Horizon Acquisition Corporation - Image

Horizon Acquisition Corporation $HZAC ($HZACU, $HZACW) is a brand spanking new $500m SPAC. Led by Todd Boehly, owner of the Los Angeles Dodgers. Units to be offered at $10, those units include one common share and 1/3 of a warrant. Warrants are redeemable at $11 50. Credit Suisse is the underwriter. Mr. Boehly will act as chairman, chief executive officer and chief financial officer. Boehly is also co-founder and chairman of Eldridge Industries 

Intended target industry (from SEC Filing): "While we may pursue an initial business combination target in any industry, we currently intend to concentrate our efforts in identifying businesses in the financial services industry, with a focus on differentiated financial services and financial services-adjacent platforms. In particular, we expect to seek assets that target four broad themes (1) innovative platforms that support consumer access to financial wellness solutions, (2) next-generation alternative asset management platforms, particularly those that benefit from upheaval in long-term interest rates, (3) traditional financial services businesses requiring an injection of capital due to exogenous shocks from the current environment and (4) insurance and related offerings, including insurance technology, administration and other solutions".

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