Isos Acquisition Corporation (NYSE: ISOS.U) announced today the closing of its initial public offering of 22,500,000 units at a price of $10.00 per unit. The units are listed on the New York Stock Exchange and began trading under the ticker symbol “ISOS.U.” on March 3, 2021. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE under the symbols “ISOS” and “ISOS WS”, respectively.
Isos Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination in any industry, sector, or geographic region, it intends to focus on businesses in the global media and entertainment sectors, as well as adjacencies in this industry, which includes direct-to-consumer businesses, consumer brands undergoing digital transformation, digitally-enabled marketplaces, services, and platforms among areas of focus. The Company is led by Co-Chief Executive Officers George Barrios and Michelle Wilson.
J.P. Morgan Securities LLC and LionTree Advisors LLC acted as the joint book running managers of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,375,000 units at the initial offering price to cover over-allotments, if any.
Of the proceeds received from the consummation of the initial public offering and simultaneous private placement of warrants, $225,000,000 (or $10.00 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of March 5, 2021 reflecting the receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to the Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission (“SEC”).
