News Alert: Thunder Bridge Prices an Upsized $225 Million SPAC
by Kristi Marvin on 2018-06-19 at 8:30am

Financial Services-Focused SPAC, Thunder Bridge Acquisition, Ltd. to Begin Trading Tuesday

This morning, Thunder Bridge announced the pricing of their upsized $225 million SPAC.  The unit will begin trading Tuesday under the symbol TBRGU.

This marks the eighteenth SPAC for 2018 bringing the total SPAC IPO proceeds raised this year to $4.9 billion.  Additionally, the pricings for LF Capital and Twelve Seas are not far behind and are expected to price later this week or next.

Congratulations to the Underwriters – Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. Chardan is acting as lead manager.

Summary of terms are as follows:
  • Total Public Proceeds: $225 million
  • Focus:  Financial Services
  • $10.00 unit comprised of one Class A Ordinary Share, one full Warrant
  • Warrant redemption threshold: equals or exceeds $18.00 (cash or cashless exercise)
  • 101% held in trust ($10.10 per share)
  • 18 months to complete an acquisition
  • Limitation on redemption rights:   a shareholder can redeem no more than 15% of the shares sold in the offering.

News Alert: Thunder Bridge Prices an Upsized $225 Million SPAC
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