Jason Ader launches new SPAC targeting gaming acquisitions
26 Capital Acquisition Corp, a special purpose acquisition company (SPAC) founded by activist investor Jason Ader, will list on the Nasdaq today (15 January) following an initial public offering.
The company intends to purchase a privately held gaming, branded consumer, hospitality or e-commerce business, following an IPO to sell 24m units at $10.00 apiece.
Ader will serve as 26 Capital Acquisition Corp’s chief executive, while John Lewis – who is currently chief financial officer at Ader’s SpringOwl Asset Management business – will hold the same position with the SPAC.
SpringOwl has previously invested in a number of gaming businesses including Las Vegas Sands, IGT, Playtech and Bwin.Party before it was purchased by GVC, a deal in which Ader played a role.