Asian MMA Organizer One Championship Mulling U.S. SPAC Deal
(Bloomberg) -- Asian mixed martial arts firm One Championship is considering options including seeking a listing in the U.S. via a merger with a special purpose acquisition company, according to people familiar with the matter.
The Singaporean sports media company has picked Credit Suisse Group AG and Goldman Sachs Group Inc. to help prepare for the potential listing, the people said. The rival to Ultimate Fighting Championship has held preliminary discussions with several SPACs, they said, asking not to be identified because the deliberations aren’t public.
The company, whose valuation is more than $1 billion, could also raise capital via other routes including an initial public offering or seeking funds privately, they said.
Discussions are preliminary and no final decision has been made, the people said. Representatives for Credit Suisse, Goldman Sachs and One Championship declined to comment.
One Championship is backed by investors including Sequoia Capital and Singapore state investment firms Temasek Holdings Pte and GIC Pte, according to its website. Its events span martial arts and combat sports including Muay Thai, kickboxing, karate and Taekwondo and are broadcast in more than 150 countries.
©2021 Bloomberg L.P.