Tiga Acquisition Corp. Announces Closing of Initial Public Offering & Full Exercise of Underwriters’ Option to Purchase Add...
November 27 2020 - 11:35AM
Business Wire
Tiga Acquisition Corp. (the “Company”) (NYSE: TINV.U) today
announced the closing of its initial public offering of 27,600,000
units, which includes 3,600,000 units issued upon the exercise of
the underwriters’ overallotment option, which was exercised in
full, at a public offering price of $10.00 per unit, resulting in
gross proceeds of $276 million. Each unit consists of one Class A
ordinary share and one-half of one redeemable warrant. Each whole
warrant entitles the holder thereof to purchase one Class A
ordinary share at a price of $11.50 per share. Only whole warrants
are exercisable. The units began trading on the NYSE under the
symbol “TINV.U” on November 24, 2020. Once the securities
comprising the units begin separate trading, the Class A ordinary
shares and redeemable warrants are expected to be listed on the
NYSE under the symbols “TINV” and “TINV WS,” respectively.
The Company is led by CEO and Chairman G. Raymond Zage III,
founder and CEO of Tiga Investments and former Managing Director
and CEO of Farallon Capital Asia, and President and Director Ashish
Gupta, Managing Director of Tiga Investments and a former Partner
and Portfolio Manager at Farallon Capital Asia.
Credit Suisse Securities (USA) LLC and Goldman Sachs (Asia)
L.L.C. are acting as the book-running managers for the offering.
The offering is being made only by means of a prospectus. Copies of
the prospectus may be obtained from Credit Suisse Securities (USA)
LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive,
Morrisville, North Carolina 27560, Telephone: 1-800-221-1037,
Email: usa.prospectus@credit-suisse.com and Goldman Sachs & Co.
LLC, 200 West Street, New York, NY 10282, Attention: Prospectus
Department, Telephone: 1-866-471-2526, Email:
prospectus-ny@ny.email.gs.com.
The registration statement relating to the offering of the
securities became effective on November 23, 2020. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About Tiga Acquisition Corp.
The Company is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses. We will seek to capitalize on the more than 46
years of combined financing and investment experience of our
founders G. Raymond Zage, III and Ashish Gupta. We believe that the
established and diverse investment experience of our founders, who
have developed a significant network of deep global relationships,
will well-position our sponsor in sourcing and identifying suitable
target businesses that may provide opportunities for an attractive
risk adjusted return to our shareholders. Our founders have a
strong track record of identifying and executing highly
differentiated special situations investments and have generated
attractive returns for their investors over the past two decades.
For more information please visit https://www.tiga-corp.com. The
information contained on, or accessible through, the Company’s
website is not incorporated by reference into this press release,
and you should not consider it a part of this press release.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering and the anticipated use of the net proceeds. No
assurance can be given that the net proceeds of the offering will
be used as indicated. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s prospectus for the Company’s offering filed with the
U.S. Securities and Exchange Commission (the “SEC”). Copies of
these documents are available on the SEC’s website, www.sec.gov.
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201127005527/en/
Diana Luo, Tiga Acquisition Corp.
CFO@tigaacquisitioncorp.com
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