Trinity Merger Corp. Prices $300 Million IPO
by Kristi Marvin on 2018-05-15 at 10:20am

Trinity Merger Corp. Priced Their $300 Million IPO, But Did You Catch the Change to the Terms?

This morning, Trinity Merger Corp. announced the pricing of their $300 million real estate focused SPAC and the unit should begin trading later this morning under the symbol TMCXU.  However, there was an important change in the prospectus…the percentage of cash held in trust jumped to 102% from the originally filed 100%.

This means $10.20 per share is now held in the trust account in the event of liquidation.  To reach 102% The sponsor over-funded the trust by purchasing $11 million of private placement warrants. This is an increase of $3 million from the originally stated $8 million purchase amount needed for the SPAC to get to 100%. That’s a lot of skin in the game.

From an investor’s perspective, this a very attractive deal since not only is the trust over-funded, but the unit is one common and one full warrant.  We can only speculate that marketing must have been a little more challenging than originally anticipated to necessitate a jump to 102%.  It should be interesting to see if a partial or full over-allotment is exercised.

Congratulations to Trinity and to B.Riley FBR, who was the sole bookrunning underwriter.

 

 

 

Trinity Merger Corp. Prices $300 Million IPO
Recent Posts
by Nicholas Alan Clayton on 2025-06-30 at 5:10pm

Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...

by Nicholas Alan Clayton on 2025-06-30 at 4:57pm

Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...

by Nicholas Alan Clayton on 2025-06-30 at 3:49pm

After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...

by Nicholas Alan Clayton on 2025-06-30 at 1:15pm

Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...

by Nicholas Alan Clayton on 2025-06-30 at 8:28am

At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved