PowerUp Acquisition raises $250M for gaming SPAC with Jack Tretton and Bruce Hack

Are gaming SPACs back? After a lull because of a choppy stock market, PowerUp Acquisition announced last week it was raising $250 million in an initial public offering for its special purpose acquisition company (SPAC).

A SPAC is a blank check company that raises money first and then acquires a business, taking it public in a process that circumvents the longer time it takes to do an IPO.