Ascendant Digital Acquisition Corp. III sets IPO even as investors pan sister SPAC’s M&A deal

  • Popular U.K. videogame company Jagex’s ex-CEO is launching a $250M IPO for his third SPAC just weeks after his first special purpose acquisition company cut a poorly received deal to take Beacon Street Group public at a $3B valuation.
  • Mark Gerhard, ex-CEO of Jagex and rival videogame firm PlayFusion, has unveiled an initial public offering for Ascendant Digital Acquisition Corp. III, his third SPAC.
  • The move comes less than two months after sister SPAC Ascendant Digital Acquisition Corp. I (NYSE:ACNDU) (NYSE:ACND) announced plans to acquire a stake in financial-information company Beacon Street Group for some $150M in cash.