Topps Heads For US$1.3Bn SPAC Deal Led By Ex-Disney Chief Eisner

2 min read | April 06, 2021 12:13 PM EDT | By Shreya Biswas

Topps Heads For US$1.3Bn SPAC Deal Led By Ex-Disney Chief Eisner

Topps Co-Mudrick Capital Reverse Merger

The reverse merger deal between Topps and SPAC Mudrick Capital is expected to close either late in the second quarter of 2021 or early on in the third, the company said.

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Once the merger goes through, Mudrick’s stocks on the Nasdaq platform will be renamed under the new ticker of ‘TOPP’.

Owner Tornante Company, which bought Topps in 2007, reportedly plans to roll all of its equity into the combined public company. Following the merger, both Topps’ name and chairperson (Eisner) will remain the same.

The combined company will also continue to be headed by present CEO and president Michael Brandstaedter.

As a sports trading cards and collectibles maker, Topps has bagged several major sports partners, such as Major League Baseball, UEFA, National Hockey League, Formula 1, etc. It also reportedly collaborates with Walt Disney and World Wresting Entertainment.

Apart from Mudrick, which will make an investment of US$ 250 million in the company, Topps Co said on Tuesday that it also has the backing of investors such as GAMCO Investors and Wells Capital Management.

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