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Roger Staubach, Sammy Hagar and a Dallas Stars exec join the blank check company frenzy
The Dallas-based company is among the new breed of ‘special purpose acquisition companies’ looking to spend money in the sports, entertainment and media industries.
Former Dallas Cowboys quarterback Roger Staubach speaks alongside former Dallas Cowboys running back Emmitt Smith during a panel discussion at the Dallas Regional Chamber s annual luncheon at the Hilton Anatole in Dallas on Thursday, Jan. 18, 2018. (Rose Baca/The Dallas Morning News)(Rose Baca / Staff Photographer)
Dallas Cowboys legend Roger Staubach, Van Halen rocker Sammy Hagar and the chairman of the Dallas Stars are joining the exploding trend of blank check companies and are looking to raise $250 million to spend on sports, entertainment and media companies.
Women leading wealthtech’s evolution
CEOs and other women in the fintech C-suite are spearheading the sector s progression and paving pathways for gender equity.
March 8, 2021 7 MINS
Women have shattered many glass ceilings during the last year, including within the stubbornly male financial services industry.
In the past 12 months, the nation elected its first female vice president, Kamala Harris, Citigroup elevated Jane Fraser to become the first woman to lead a large Wall Street Bank, and Teachers Insurance and Annuity Association of America (TIAA) announced Thasunda Brown Duckett will become the second Black woman currently heading a Fortune 500 firm as CEO.
Last modified on Sat 6 Mar 2021 11.09 EST
Basketball star Shaquille O’Neal does not at first glance seem to have much in common with the UK’s chancellor, Rishi Sunak. While the American sportsman has endorsed Pepsi, the British minister recently confessed to an addiction to Coca-Cola. But last week’s budget suggests they agree on at least one thing: both have jumped on the special purpose acquisition companies (Spacs) bandwagon – the hottest trend in finance.
Spac sponsors – often celebrities such as O’Neal – raise money for a “blank-cheque” company that lists on a stock market. The company then hunts for a privately owned business to invest in. A reverse merger offers the private company quick access to capital and a route to the stock market that is cheaper and easier than a traditional flotation. Once the process is complete, those who bought into the Spac can keep the investment or sell once the purchase is revealed.
New Constructs Adds Credit Ratings for 2,750+ Companies
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NASHVILLE, Tenn., March 4, 2021 /PRNewswire/ New Constructs (NC), the leading provider of fundamental research on private and public businesses, announced today that it provides Credit Ratings for 2,750+ companies.
New Constructs Credit Ratings differ from traditional ratings because they are based on proprietary Adjusted Fundamentals, proven superior to traditional unscrubbed data by a paper forthcoming in The Journal of Financial Economics. Accordingly, these new Credit Ratings more accurately measure a firm s leverage, liquidity, interest coverage, and overall creditworthiness.
New Constructs Credit Ratings also differ from legacy providers ratings as follows: