Brooklyn Nets star Kevin Durant starts $200 million SPAC
CBSN
Most sports fans know Kevin Durant as an outstanding basketball player for the Brooklyn Nets, but the two-time NBA championship winner is also on a different team — off the court.
Durant and his longtime manager Rich Kleiman have launched a special-purpose acquisition company, or SPAC, according to documents filed Wednesday with the Securities and Exchange Commission. In the filing, Durant is listed as co-CEO for Infinite Acquisition, which plans to go public by merging with a company in the sports, health, food tech, ecommerce or cryptocurrency sector.
The SPAC intends to go public under the ticker symbol "NFNT" and is seeking up to $200 million in investments from new shareholders. Durant and Kleiman didn't name a specific entity they are targeting for a merger.
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