Basketball Star Kevin Durant Launches $200 Million SPAC

Kevin Durant of the Brooklyn Nets will co-lead an SPAC with entrepreneur Rich Kleiman. According to Reuters, “Brooklyn Nets star Kevin Durant has become the latest celebrity to endorse a blank-check firm after his Infinite Acquisition Corp filed for an initial public offering of up to $200 million on Wednesday.”

Durant and Kleiman recently founded the venture firm, Thirty Five Ventures, sponsored by LionTree.  Durant and Kleiman also backed SeatGeek’s $1.35B merger. “Infinite Acquisition said it would redeem 100% of the shares for cash if it does not close a merger within 18 months after the offering closes. Typically, such acquisition vehicles have up to 24 months to hunt for a company to take public.”

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