Tiga Acquisition Corp. Announces Receipt of Deposit Proceeds from Private Placement Warrants

Rhea-AI Summary

Tiga Acquisition Corp. announced the issuance of 2,760,000 private placement warrants to Tiga Sponsor LLC at $1.00 each, raising a total of $2,760,000. The proceeds were deposited into the Company’s Trust Account on May 20, 2021. Each warrant grants the holder the right to buy one Class A ordinary share at $11.50. This press release includes forward-looking statements about future transactions, which may not be completed as expected.

Positive

• Raised $2,760,000 through private placement warrants.
• Each warrant allows purchase of shares at $11.50, potentially benefiting future capital structure.

Negative

• No assurance that the proposed transactions will be completed.
• Forward-looking statements carry risks that could impact execution.

Tiga Acquisition Corp. (the “Company”), announced today that on May 27, 2021 it issued and sold to Tiga Sponsor LLC 2,760,000 private placement warrants at $1.00 per warrant for an aggregate purchase price of US$2,760,000 (the “Proceeds”), and that such Proceeds were placed on deposit in the Company’s Trust Account on May 20, 2021. Each warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share.

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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed purchase by the Sponsor of additional private placement warrants and the anticipated deposit of the proceeds of such purchase in the Company’s Trust Account. No assurance can be given that the transactions discussed above will be completed on the terms described, or at all, or that the proceeds of the purchase of private placement warrants will be deposited as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526006171/en/

FAQ

What is Tiga Acquisition Corp.'s recent financial activity?

Tiga Acquisition Corp. raised $2,760,000 by issuing 2,760,000 private placement warrants.

What price can holders purchase shares under the new warrants?

Holders can purchase shares at a price of $11.50 each.

What are the risks associated with Tiga Acquisition Corp.'s forward-looking statements?

The risks include uncertainty regarding the completion of proposed transactions and potential impacts of market conditions.

When were the proceeds from the warrant sale deposited?

The proceeds were deposited in the Company's Trust Account on May 20, 2021.