Former Sony PlayStation Executive Floats $225M Gaming SPAC

Jack Tretton, the former CEO of Sony Group Corp's SONY Sony Computer Entertainment America, led a $225 million special-purpose acquisition company (SPAC) pursuing a deal in the video game industry.
Tretton is known for making the PlayStation a popular gaming console.
Tretton is now the CEO of PowerUp Acquisition Corp.
PowerUp looks to acquire a company in the interactive media space that focuses on video games but is open to choosing a company in any industry.
Bruce Hack serves as PowerUp's Executive Chairman. Hack was a director then chairman of Technicolor SA from 2010 to 2019. Hack has held the roles of Vivendi SE VIVEF VIVHY, Vivendi Games' CEO, and Activision Blizzard Inc ATVI Vice Chairman.
Price Action: SONY shares traded lower by 0.39% at $125.43 in the premarket session on the last check Friday.