Trading Card and Collectibles Company Topps Goes Public With $1.3B Merger
Topps has agreed to go public through a deal that values the sports trading card and collectibles company at $1.3 billion. Michael Eisner, the former CEO of Disney who bought Topps in 2007, will retain his role as chairman of Topps.
Mudrick Capital Acquisition Corporation II, a special purpose acquisition company (SPAC), is leading a $250 million investment into Topps to take the company public. Topps will be listed on the Nasdaq as “TOPP” once the transaction closes, which is expected by the third quarter of this year.
Topps, founded in 1938, had a record sales total of $567 million in 2020, a 23% year-over-year increase. The company started making digital collectibles in 2012 and plans to further its expansion into NFTs and blockchain-backed collectibles. Tobin Lent, general manager of Topps Digital, spoke on a digital collectibles panel at SportTechie’s State Of The Industry virtual conference in March.
