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PJT Partners, On Location Vets To Launch New Sports SPAC

Top former executives of On Location Experiences and PJT Partners are launching a blank-check acquisition company focused on tech and services in sports and entertainment, according to an SEC filing. Sports Entertainment Acquisition Co. will seek to raise $350M. The company’s prospectus says it will target startups in sports with high growth potential, in verticals such as media, ticketing, payments, entertainment travel and gaming. The three individual founders are former NFL Exec VP and On Location Chair Eric Grubman; former NHL COO and On Location CEO John Collins; and Chris Shumway, the billionaire founder of Shumway Capital. PJT Partners is also a sponsor of the new business.

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