83-year-old baseball card company Topps is going public
CNN
Sports trading cards are super popular thanks to the craze over non-fungible tokens, or NFTs. That's one reason why Topps, the company synonymous with baseball cards and bubble gum, is looking to go public again.
Topps announced Tuesday plans to merge with a special purpose acquisition company, or SPAC, in a deal that values Topps at $1.3 billion. The company will combine with a blank check firm named Mudrick Capital Acquisition Corporation II, (MUDS) or MUDS. Shares of MUDS popped more than 15% on the news. The transaction also includes a so-called private investment in public equity (or PIPE) of $250 million.
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