A Paradise Acquisition (APAD), a special purpose acquisition company, said Monday that the US Securities and Exchange Commission has approved the registration statement related to its business combination with sports and entertainment startup Enhanced.
A Paradise and Enhanced announced in November that they signed a merger deal to combine the two entities.
The SPAC said the combination implies an enterprise value of $1.2 billion for, and that it will provide up to $200 million in gross cash proceeds when the deal closes, assuming there are no redemptions by A Paradise shareholders.
The combination is expect to close shortly after A Paradise's general meeting on May 1.
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