Goal Acquisitions is a SPAC — a blank check company with no operations or revenue — formed in October 2020 to identify and acquire a target company and take it public. Goal Acquisitions raised ~$259M in its IPO, with proceeds held in trust, and its stated focus is professional sports, sports media, sports technology, gaming, and e-sports, though it is not restricted to these areas. The company's management team and advisors have operating experience at sports franchises including the New York Yankees and San Francisco 49ers, and have represented athletes including Michael Jordan. Goal Acquisitions has agreed to merge with Digital Virgo, a French company, in an unusual structure where Digital Virgo acquires Goal Acquisitions' shares via a statutory share exchange, with Goal Acquisitions shareholders receiving one Digital Virgo Class A ordinary share per share held. The deal includes a $125M PIPE investment and a committed capital on demand facility of at least $100M in post-closing capital. By early 2024, shareholder redemptions had substantially depleted the trust account, with over 25.6M public shares redeemed for ~$263M, leaving minimal capital remaining. If the deal does not close by the termination deadline, the trust liquidates, public shareholders are redeemed at ~$10 per share plus interest, and the sponsor's founder shares become worthless.