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Tiger Woods begins foray into SPACs, targeting sports and health tech

Sports & Health Tech Acquisition Corp. said that it would target companies with an approximate enterprise value of $600M-1BGetty Images

Tiger Woods is a "lead investor in Sports & Health Tech Acquisition Corp., a so-called blank-check company looking to raise" $150M, targeting sports and health technology investments, according to Maria Armental of the WALL STREET JOURNAL. The move marks Woods’ foray into SPACs. The company said that it would "focus on fan engagement, consumer-facing health and fitness technologies, and health and well-being, targeting companies with an approximate enterprise value" of $600M-1B. The management team is led by Chair Jon Voigtman, a financial-services and investment executive, and CEO Andrew White, a sports entrepreneur and Chair of leAD Sports Ltd. After the IPO, the two, along with CFO Christopher Hubman would "retain a roughly 19.5% stake in the SPAC through the sponsor." Hubman has been the CFO of TGR Ventures since '00. TGR handles Woods’ "professional endeavors and his family-office functions" (WALL STREET JOURNAL, 1/14).

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