Thayer Ventures Acquisition Corporation Announces Closing of $172.5 Million Initial Public Offering
Thayer Ventures Acquisition Corporation (the "Company" or "TVAC"), a special purpose acquisition company, today announced the closing of its initial public offering of 17,250,000 units, including 2,250,000 units issued to the underwriters upon full exercise of their over-allotment option, at a price of $10.00 per unit. The units began trading on The Nasdaq Capital Market ("Nasdaq") on December 11, 2020 under the ticker symbol "TVACU".
Each unit issued in the offering consists of one share of the Company's Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units commence separate trading, the shares of Class A common stock and redeemable warrants are expected to be respectively listed on Nasdaq under the symbols "TVAC" and "TVACW". No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Stifel, Nicolaus & Company, Incorporated and Oppenheimer & Co. Inc. acted as joint book-running managers for the offering.
A registration statement relating to the securities became effective on December 10, 2020. The offering was made only by means of a prospectus, which forms a part of the registration statement. Copies of the prospectus may be obtained for free by visiting EDGAR on the Securities and Exchange Commission (the "SEC") website at www.sec.gov. Alternatively, copies may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, Maryland 21202, email: [email protected], or by telephone: (855) 300-7136 and Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, or by email at [email protected].
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 these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Since 2008, Thayer Investment Partners has been at the forefront of travel technology investing, partnering with visionary founders to build companies that reshape how the world moves, stays, and experiences new places. While Travel and Tourism is one of the largest industries on earth contributing roughly 10% of global GDP, it has historically underinvested in modern technology compared to other sectors of similar size. Founded in 2008, Thayer was created to spur innovation in travel and help entrepreneurs navigate its complex web of stakeholders. Over the past 15+ years, we have invested in over 100 companies that have had a huge impact in advancing the travel industry. Today we are focused on being the bridge between silicon valley and the global travel industry. We help all companies unlock the travel industry and drive sales, strategy and partnership for our portfolio. All businesses will sell to, partner with or consume travel and Thayer is the strategic co-pilot.
Media Contact
Michael Frenkel
Thayer Ventures [email protected] +1 201 317 7035