![]() In subsequent events, more rigorous rules were created and fighters began adopting effective techniques from more than one discipline, which indirectly helped create a separate style of fighting known as present-day mixed martial arts. ![]() The purpose of the early Ultimate Fighting Championship competitions was to identify the most effective martial art in a contest with minimal rules and no weight classes between competitors of different fighting disciplines. The UFC was founded by businessman Art Davie and Brazilian martial artist Rorion Gracie, and the first event was held in 1993 at the McNichols Sports Arena in Denver, Colorado. Under White's stewardship, it has grown into a global multi-billion-dollar enterprise. Dana White has been its president since 2001. As of 2022, it had held over 600 events. It produces events worldwide that showcase 12 weight divisions (eight men's and four women's) and abides by the Unified Rules of Mixed Martial Arts. It is the largest MMA promotion in the world as of 2022. It is owned and operated by Zuffa, a wholly owned subsidiary of Endeavor Group Holdings. ![]() The cannabis-related investment space is currently dominated by small funds which we believe lack both the capital and experience to see their investments through multiple rounds of funding.The Ultimate Fighting Championship ( UFC) is an American mixed martial arts (MMA) promotion company based in Las Vegas, Nevada. At the same time, the cannabis industry is highly fragmented and subject to a complex regulatory framework, creating significant barriers to entry. We believe that the normalization of cannabis and its many uses - both therapeutic and recreational - is creating a rarely seen opportunity to invest in related businesses. With full federal legalization in Canada and 36 states in the United States allowing for some type of legal use under state law, the cannabis industry is amongst the fastest growing industries in the world. The cannabis industry has experienced significant growth over the last several years. While we may pursue a business combination target in any business, industry or geographical location, we intend to focus our search for businesses in the cannabis industry that are compliant with all applicable laws and regulations within the jurisdictions in which they are located or operate and, in particular, we will not invest in, or consummate a business combination with, a target business that we determine has been operating, or whose business plan is to operate, in violation of U.S. With this team, Silver Spike Capital is positioning to become the leading institutional-quality asset manager in this nascent, fragmented sector. Silver Spike Capital was formed in 2019 with an executive team consisting of seasoned investment professionals, many of whom have extensive experience in emerging and frontier markets as well as cannabis industry investors and entrepreneurs with proven track records. Silver Spike Capital is an asset management firm focused on the burgeoning cannabis and related health & wellness industries. Our sponsor is an affiliate of Silver Spike Capital. ![]() We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this Annual Report as our initial business combination. ![]()
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