PowerUp Acquisition Corp.
PowerUp intends to identify and acquire a business within the interactive media, digital media, sports, entertainment, and/or leisure, with a particular focus on video gaming, gaming adjacent, and new metaverse video gaming businesses. (Incorporated in the Cayman Islands)
Bruce Hack serves as our Executive Chairman. He led one of the video game industry’s most successful companies and co-led market-leading firms in the broader media and technology space. Mr. Hack was director and then chairman of Technicolor SA from 2010 to 2019. Prior, he was a principal in the creation of Activision Blizzard and served as the company’s vice chairman from 2008 to 2009. Mr. Hack was chief executive officer of Vivendi Games from 2004 to 2008, where he architected one of the largest turnarounds in video game history and launched Blizzard’s World of Warcraft, one of the decade’s defining online games. He was vice chairman of the Universal Music Group from 1998 to 2001 and chief financial officer of Universal Studios from 1995 to 1998. He joined The Seagram Company in 1982 after serving as an international trade negotiator at the U.S. Treasury in Washington, D.C. Amongst his roles at The Seagram Company were chief financial officer of Tropicana Products, Inc. and director of strategic planning. Mr. Hack is the founder and chief executive officer of BLH Venture, a provider of consulting and investment services to companies in the media and entertainment sectors. Mr. Hack is a director at Games for Change, a member of Endeavor Global, and on advisory councils for both the Hamilton Lugar School for Global and International Studies at Indiana University and the Cornell University College of Arts and Sciences. He earned a Bachelor of Arts degree from Cornell University and an M.B.A. from the University of Chicago.
Jack Tretton serves as our Chief Executive Officer and a member of our board of directors. Mr. Tretton, with a 35-year career in gaming, is one of the great leaders in the last 25 years of console video gaming. Mr. Tretton was at Sony Computer Entertainment America from 1995 to 2014, serving as president and chief executive officer from 2006 to 2014. Mr. Tretton helped establish the PlayStation brand as a worldwide leader in interactive entertainment. Mr. Tretton received credits on over 200 titles at Sony, with an average of 74% gross IRR. Under his leadership, Sony’s in-house titles posted stronger sales trends versus the overall industry average, with an average outperformance of 42% for AAA releases. During his tenure, Sony’s global video game revenue grew from $1.9 billion in the fiscal year ending March 1995 to $11.6 billion in the fiscal year ending March 2015. Sony PlayStation outperformed the top competitors across several key dimensions in combined hardware and software revenues. In 2014, Mr. Tretton founded Interactive Concepts LLC, a consulting firm that provides management, research, fundraising, and publishing services for over 30 different clients including Fortune 500 companies. In 2018, Mr. Tretton founded Interactive Gaming Ventures. Prior to Sony, Mr. Tretton was General Manager at JVC Musical Industries from 1991 to 1995 and Vice President of Sales at Activision from 1986 to 1991. Mr. Tretton graduated from Providence College with a Bachelor of Science, Marketing.
(Note: PowerUp Acquisition Corp. priced its recently upsized SPAC IPO on Feb. 17, 2022, in line with the terms in its prospectus: 25 million units at $10 each to raise $250 million. On Feb. 14, 2022, PowerUp Acquisition Corp. increased the size of its SPAC IPO to 25 million units, up from 22.5 million units initially, at $10 each, according to an S-1/A filing.)
|Address||188 Grand Street Unit #195 New York, NY 10013|
|Phone Number||(347) 313-8109|
|View Prospectus:||PowerUp Acquisition Corp.|
|Revenues||$0 mil (last 12 months)|
|Net Income||$0 mil (last 12 months)|
|Price range||$10.00 - $10.00|
|Est. $ Volume||$250.0 mil|
|Manager / Joint Managers||Citigroup|
|CO-Managers||Odeon Capital Group|
|Expected To Trade:||2/18/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|