Davis Polk advised the sole underwriter in connection with the initial public offering of 37,375,000 units of Marquee Raine Acquisition Corp., including 4,875,000 units purchased pursuant to the full exercise of the underwriter’s option to purchase additional units, for aggregate proceeds of $373.75 million. Each unit consists of one Class A ordinary share and one-fourth of one warrant to purchase one Class A ordinary share of Marquee Raine Acquisition Corp. The Class A ordinary shares and warrants are expected to be listed on the Nasdaq Capital Market under the symbols “MRAC” and “MRAC.WS,” respectively.

Marquee Raine Acquisition Corp. is a newly incorporated special purpose acquisition company (SPAC) whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While the company may pursue an acquisition opportunity in any business industry or sector, it intends to focus on the high-growth sectors of technology, media and telecom, including, but not limited to, opportunities in interactive entertainment and games, real-money gambling, digital media, sports and sports-enabled assets, health and wellness, out-of-home and live entertainment, audio content and podcasting, technology or other opportunities in adjacent sectors.

The Davis Polk corporate team included partners Derek Dostal and Deanna L. Kirkpatrick, associates Jakub P. Jozwiak and Genevieve A. Lewis. The tax team included partner Lucy W. Farr and associate Daniel L. Jose. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and Washington DC offices.