Thunder Bridge Capital Partners IV, Inc. Announces Closing of $225,000,000 Initial Public Offering

Rhea-AI Summary

Thunder Bridge Capital Partners IV has closed its IPO, raising $225 million by offering 22.5 million units at $10.00 each. Each unit comprises one share of Class A common stock and one-fifth of a redeemable warrant, exercisable at $11.50 per share. The units began trading on Nasdaq under the ticker THCPU on June 30, 2021. Proceeds from the offering are placed in trust, and the company aims to target mergers in the financial services sector.

Positive

• Successful IPO raised $225 million.
• Units priced competitively at $10.00 each.
• Strong market debut with trading on Nasdaq under THCPU.

Negative

• Potential dilution risk with additional 3.375 million units for underwriters.
• No assurance on the specific use of net proceeds.

New York, NY, July 02, 2021 (GLOBE NEWSWIRE) -- Thunder Bridge Capital Partners IV, Inc. (NASDAQ: THCPU) (the “Company”) announced today that it closed its initial public offering of 22,500,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $225,000,000. The underwriters have a 45-day option to purchase up to an additional 3,375,000 units to cover over-allotments, if any.

The Company’s units are listed on the Nasdaq Global Market (“Nasdaq”) and commenced trading under the ticker symbol “THCPU” on June 30, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fifth of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants will trade and are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be traded on Nasdaq under the symbols “THCP” and “THCPW,” respectively.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the financial services industry. The Company is led by Chief Executive Officer Gary A. Simanson.

Morgan Stanley & Co. LLC acted as sole book running manager for the offering.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $225,000,000 (or $10.00 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of July 2, 2021 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.
  
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
  
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on June 29, 2021. 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.

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 registration statement and prospectus for the offering filed with the Securities and Exchange Commission (“SEC”). Copies 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.

Contact
Gary A. Simanson
202.431.0507
gsimanson@thunderbridge.us

FAQ

What is the total amount raised by Thunder Bridge Capital Partners IV in its IPO?

Thunder Bridge Capital Partners IV raised a total of $225 million in its IPO.

What are the trading symbols for the securities offered by Thunder Bridge Capital Partners IV?

The units trade under the symbol THCPU, while the Class A shares and warrants will trade under THCP and THCPW, respectively.

What is the exercise price for the redeemable warrants from the IPO?

The redeemable warrants from the IPO are exercisable at a price of $11.50 per share.

What is the purpose of Thunder Bridge Capital Partners IV's formation?

The company is formed to effect a merger, capital stock exchange, or similar business combination, primarily targeting the financial services industry.