(CelebrityAccess) — Veteran label exec Neil Jacobson has launched a new venture that’s looking to acquire music properties with the backing of $200 million in investment capital raised from an IPO last week.
The Music Acquisition Corporation, a ‘blank check company’ began trading on February 3rd and is led by Chairman and Chief Executive Officer Neil Jacobson and Chief Operating Officer Todd Lowen along with a board of directors that includes Michael Levitt, Ben Silverman, and Tunde Balogun.
According to a prospectus, the company will be looking to make an acquisition in a number of areas, including music licensing, the intersection of music and technology, social media, and companies serving music and music related mercandise to consumers, such as Peloton or Beats by Dre.
Jacobson comes to the company after a long career in the recording industry, including UMG’s Interscope Geffen A&M Records where he held multiple senior roles. During his tenure there, he oversaw the signing of Billie Eilish’s label Darkroom Records.
More recently, he founded Hallwood Media, an independent music management company exclusively focused on song writers and producers.
Citigroup Global Markets Inc. and Cantor Fitzgerald & Co. are acting as joint bookrunning managers for the offering.