TPG Pace Tech Opportunities Corp. announced the pricing of its $450 million IPO this evening and the units are expected to begin trading on the NYSE under the symbol “PACE.U” tomorrow, Wednesday, October 7.
This new company aims to combine with a company in the technology, media or business services sectors that has a differentiated offerings in a large addressable market. TPG Pace Tech is led by Non-Executive Chairman Karl Peterson, President Greg Mrva, CFO Martin Davidson, and EVP of Corporate Development and Secretary Eduardo Tamraz.
Total SPAC deal count for 2020 year-to-date is now 130 with $49.9 billion in gross proceeds raised. This offering is expected to close on Friday, October 9.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Barclays Capital Inc. are serving as joint book runners for the offering. Weil, Gotshal & Manges, LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. KPMG LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.