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NBA Star Kevin Durant Launches $200M Special Purpose Acquisition Company

The Kevin Durant takeover just won’t stop! As AfroTech previously reported, the Brooklyn Nets basketball star became one of the major buyers in a $1.35 billion merger agreement last month between SeatGeek and RedBall Acquisition Corporation, a blank check company. On Nov. 3, Reuters revealed that Kevin Durant has launched a $200 million special purpose acquisition company (SPAC), making him the latest celebrity to endorse a blank-check firm. According to Reuters, Durant’s Infinite Acquisition Corp’s initial public offering comes in “amid a chill in the SPAC market, due to tightening accounting guidance and regulatory scrutiny from the U.S. Securities And Exchange Commission.” The SPAC will trade under Ticker symbol “NFNT.U” on the New York Stock Exchange and be co-led by Durant and his longtime manager and business partner Rich Kleiman. LionTree, an investment and merchant banking firm, has also joined the dynamic duo as a sponsor of the SPAC. Infinite Acquisition Corp is set to buy...

Nov 3, 2021