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What happened: Enhanced Group (ENHA) began trading on the New York Stock Exchange on Friday.
What’s behind the move: The company went public by merging with blank check firm A Paradise Acquisition Corp, giving it a $1.2 billion valuation.
The stock jumped as much as 20% shortly after going public.
Company executives will ring the closing bell at the New York Stock Exchange at 4:30 p.m. ET with Olympic athletes joining leadership.
What else you need to know: Enhanced Games is involved in producing international sports competitions that allow athletes to use medically supervised performance-enhancing drugs.
Next month the company will host its inaugural Enhanced Games at Resorts World in Las Vegas.
“More than a competition, we are showcasing the highest medical and clinical standards in sport while producing an event that provides something for each audience member,” said Enhanced Group CEO Maximilian Martin in a letter to shareholders on Friday.
World champions, Olympic medalists, and global record holders across swimming, sprinting, and weightlifting have committed to compete, said Martin.
Enhanced Group also owns the Live Enhanced consumer platform, which includes a proprietary supplement line and telehealth offerings.
Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, crypto, and commodities.
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