TB SA Acquisition Corp. announced the pricing of its downsized $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TBSAU”, Tuesday, March 23.
The new company aims to combine with an African target that promotes environmental, social and governance, or ESG, principles. TB SA is led by CEO Andrew Rolfe, Non-Executive Chairman Gareth Penny and CFO James Crawley.
Total SPAC deal count for 2021 year-to-date is now 286. This offering is expected to close on Thursday, March 25.
Deutsche Bank Securities Inc is serving as the book-running manager for the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Paul, Weiss, Rifkind, Wharton & Garrison LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
In a surprise move, the NYSE has proposed a rule change to its listing standards to allow SPACs to continue listing up to an additional six months beyond the current 36. However, this is only if the SPAC has signed a definitive agreement prior to the 36 month deadline. As background, both the Nasdaq and...
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Blockchain Coinvestors Acquisition Corp. I (NASDAQ:BCSA) has entered into a definitive agreement to combine with fintech firm Linqto at an enterprise value of $700 million. San Jose, California-based Linqto provides a platform for investors to invest in private venture-backed startups. The combined company is expected to trade on the Nasdaq once the deal is completed...
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JVSPAC (NASDAQ:JVSA) has entered into a definitive agreement to combine with Philippines hospitality firm Hotel101 at an equity value of about $2.3 billion. Hotel101 is a subsidiary of Manila-based budget hospitality brand of conglomerate DoubleDragon that is focused on providing standardized hotel rooms across its full network. The combined company is expected to begin trading...