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Investment veterans' SPAC Tiga Acquisition prices upsized $240 million IPO at $10

Nov 24, 2020 - Nasdaq
Mergers and Acquisitions-Investments

Tiga Acquisition, a blank check company formed by Tiga Investments, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Tiga Acquisition may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.

The company is led by CEO and Chairman Raymond Zage III, founder an...