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Former Playstation Ceo Jack Trenton Sony PlayStation Boss Launches $225 Million Gaming SPAC

S0ULZB0URNE

Member

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The former chief executive officer of Sony Computer Entertainment America, who helped make the PlayStation a popular gaming console, is leading a $225 million special-purpose acquisition company that’s pursuing a deal in the video game industry.

Jack Tretton, who started his career at Sony in 1995, is now the CEO of PowerUp Acquisition Corp., according to a prospectus filed Wednesday with the Securities and Exchange Commission. Joining Tretton on the management team is Bruce Hack, former CEO of Vivendi Games and vice chairman of Activision Blizzard Inc. from 2008 to 2009.

PowerUp is looking to acquire a company in the interactive media space that focuses on video games, according to the prospectus, but could ultimately choose a company in any industry.

SPACs, also known as blank-check companies, are publicly listed businesses created to complete an acquisition that brings a private entity to public markets. This year, more than 600 SPACs priced in the U.S., surpassing $160 billion, making up the majority of global issuance. However, many SPACs underperform traditional initial public offerings.

Citigroup Inc. is serving as the book-running manager of the offering, while broker-dealer Odeon Capital Group is serving as co-manager.

F-ed thread title please fix
 
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kingfey

Banned
Considering Sony intent on pc market, this should be a pc port studio. Unless they want to buy a public owned studio.

They have 2 choices now. Square Enix, or Capcom. Will Sony put the money on the bag for these 2 companies?

Title confused me. 😕

This man has nothing to do with Sony acquisition.

Guess it's different business then.
 
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Inviusx

Member
Buying a traditional gaming company would be a dumb move. This seems like they're targeting newer ideas like block chain gaming initiatives, metaverse stuff, possibly VR or even Mobile.

There is no future in buying some AA studio that makes shooters or some basic bitch shit like third person action games, they will invest in out of the box ideas.
 
Sony buys Trenton's company. Trenton becomes PlayStation's Steve Jobs and brings about the REAL meta matrix just as Lana will prophesy in the next Matrix film after this crazy meta shitty one. Sony/PlayStation takes over the world to become this dimension's first quadrillion company. The real endgame is near. :messenger_poop:
 

TransTrender

Gold Member
To me this reads like, "We want to extract tons of money from idiot gamers, and we have some ideas on how we might do it, but we need your money before we can go any further. Please gibs."
 
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Kdad

Member
To me this reads like, "We want to extract tons of money from idiot gamers, and we have some ideas on how me right do it, but we need your money before we can go any further. Please gibs."
Yes...it's moving crap to the public market that doesn't attract enough venture capital...or it lets the VCs out earlier in the process before they need to actual deliver anything. SPACs are a bad idea.
 
What I don’t understand is why investors are excited by the idea of joining a SPAC. Seems like a raw deal on all fronts, but less dumb than r/WSB.
 

SSfox

Member
I like Jack but this is just straight up BOOOOOOOOOOOOORING.

Hit me with some REAL gaming news.
 

Rest

All these years later I still chuckle at what a fucking moron that guy is.
So it's kind of like an angel investor to bring an established company onto a stock exchange?

Is this really news? I feel like this could go into the catch all "dev gets a new job" thread that we need.
 

yurinka

Member
Playstation was better with him as the CEO.
Jacky Boy>>>>>>Jim "Don Mattrick" Ryan
Jim Ryan is the CEO of the worlwide SIE, Tretton was only CEO of the SCEA (regional division for USA).
So basically Tretton was a boring showman and salesman for E3, meanwhile Ryan was in SCEE (regional division for Europe) and turned Europe into the first worldwide market for PlayStation.
 
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K' Dash

Member
I wish I could say I'm surprised that people read PlayStation in the title and come to fart a post about something completely unrelated to the article.
 

Great Hair

Banned

What Is a Blank Check Company?​

A blank check company is a publicly-traded, developmental stage company that has no established business plan. It may be used to gather funds as a startup or, more likely, it has the intent to merge or acquire another business entity. Blank check companies are speculative in nature and are bound by Securities and Exchange Commission Rule 419 to protect investors.


KEY TAKEAWAYS​

  • Blank check companies do not have established business plans.
  • This type of company is often used to gain funds, with the plan to merge with or acquire another business.
  • SPACs are a type of blank check company.
Jack is too dangerous
 
He never was the CEO. At best he was head of SCEA. CEOs have been Kutaragi, Kaz, House and Ryan.

Jim Ryan is the CEO of the worlwide SIE, Tretton was only CEO of the SCEA (regional division for USA).
So basically Tretton was a boring showman and salesman for E3, meanwhile Ryan was in SCEE (regional division for Europe) and turned Europe into the first worldwide market for PlayStation.

Yup, my bad!

This was I meant:

I miss pre-Ryan Sony in general.
 
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