A boomer company riding a Gen Z wave: the best way to describe the latest SPAC deal. Topps, the firm made famous by its baseball cards and Bazooka candy, is going public through a merger deal with the blank check company Mudrick Capital Acquisition Corporation II, which values Topps at $1.3b. The new entity will trade on the Nasdaq under the symbol TOPP. Who knew baseball cards were still even a thing?
Topps’ chairman is former Disney CEO Michael Eisner, who has helped the company branch out its sports trading cards business into a more digital world – including an interactive mobile app that allows collectors to connect with each other and a new non-fungible tokens (NFTs) venture.