Harry Potter: Hogwarts Mystery publisher Jam City will launch SPAC at $1.2B value, buy Ludia for $175M

Harry Potter: Hogwarts Mystery mobile game publisher Jam City has filed to go public through a special purpose acquisition company, or SPAC. Jam City is using some of the money to buy Canadian mobile game publisher Ludia for $175 million.

SPACs enable companies to go public by merging with a public shell company, enabling them to skip the long process for initial public offerings.