Sportsbook operator PlayUp has submitted a filing to be registered as a public company, with the help of a special purpose acquisition company (SPAC), IG Acquisition Corp.
The deal submitted by IG Acquisition will see PlayUp valued at $350m.
The operator and SPAC say the transaction to go public will help fund the expansion of PlayUp. A fund managed by Yorkville Advisors Global has already agreed to invest $70m in PlayUp.
Filing Form 8-K to the state of Delaware, the SPAC IG Acquisition will manage the legal process for PlayUp to transition from a private company to a public one.