- Mudrick Capital Acquisition Corporation (NASDAQ: MUDS) is merging with Topps. These are the details.
Mudrick Capital Acquisition Corporation (NASDAQ: MUDS), a special purpose acquisition company (SPAC) announced it is merging with trading card company Topps, according to CNBC. This reverse merger deal would value Topps at $1.3 billion.
Former Disney CEO Michael Eisner serves as chairman of Topps and he will continue this role going forward. This deal is expected to close in the second or third quarter.
The combined company is going to be called Topps and it will trade on the Nasdaq under the symbol “TOPP.”
Topps’ net sales increased 23% last year to $567 million, which as a record high for the company. Along without offering sports trading cards, Topps is known for its Bazooka candy line and the company also now offers interactive mobile apps for connecting collectors. And Topps recently expanded to non-fungible tokens. Plus Topps operates a gift card business called Topps Digital Services.
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