In addition to its trading charts, fans will soon be able to trade shares of Topps.
The company said Tuesday that it will become a stock exchange this year by merging a blank check company, or SPAC, a special-purpose acquisition company.
Topps, for anyone who has not opened the shoebox of trading cards in an attic, has expanded strongly from his Bazooka gum days and is busy with digital sales, apps, cryptocurrency and even NFTs, or non-fungible tokens.
Its subject has expanded to include comics, professional wrestling, Formula 1 and film.
Topps Co. said Tuesday it will merge with Mudrick Capital Acquisition Corp, which will make a $ 250 million investment.
Topps was bought in 2007 by Michael Disney, former CEO of Disney, by his firm The Tornante Co. Eisner will hold his position at Topps as chairman of the board.
“The strong emotional connection between the Topps brand and consumers of all ages is significant, and, together with our growing portfolio of strategic licensing partnerships, it creates a profitable business model with significant competitive advantages,” Eisner said in a prepared statement on Tuesday.
Michael Brandstaedter, CEO of Topps, will lead the company.
Companies over the past year have chosen to do a record pace through SPACs. A SPAC is usually a group of investors who work together and look for acquisition targets. They can expedite companies through the process of publicly traded, because the capital has already been set aside for that. The initial investment of the larger investors, usually a share, is converted into shares that are available to all.
Unlike many companies published by a SPAC in the past year, Topps is an iconic brand and its sales are booming. The 80-year-old company sold $ 567 million last year.
The deal is expected to close this year and Topps will be listed on Nasdaq under the symbol “TOPP”.