SPORTS VENTURES ACQUISITION CORP. : Other Events, Financial Statements and Exhibits (form 8-K)

Item 8.01. Other Events.

On January 8, 2021, Sports Ventures Acquisition Corp. (the "Company") consummated its initial public offering (the "IPO") of 23,000,000 units (the "Units"), including 3,000,000 Units issued pursuant to the exercise of the underwriters' over-allotment option in full. Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share ("Class A Ordinary Shares"), and one-third of one redeemable warrant of the Company (the "Warrants"), with each whole Warrant entitling the holder thereof to purchase one share of Class A Ordinary Share for $11.50 per share. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $230,000,000.

Simultaneously with the closing of the IPO, the Company completed the private sale (the "Private Placement") of an aggregate of 660,000 Units (the "Private Placement Units") to AKICV LLC (the "Sponsor") at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $6,600,000.

A total of $230,000,000, comprised of $225,400,000 of the proceeds from the IPO (which amount includes $8,050,000 of the underwriters' deferred discount) and $4,600,000 of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account, maintained by Continental Stock Transfer & Trust Company, acting as trustee.

An audited balance sheet as of January 8, 2021 reflecting receipt of the proceeds upon consummation of the IPO and the Private Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statement and Exhibits.

(d) Exhibits



Exhibit No.   Description
99.1            Audited Balance Sheet as of January 8, 2021.




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