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

Rhea-AI Summary

Tiga Acquisition Corp. (NYSE:TINV) announced the issuance of 2,760,000 private placement warrants at $1.00 each, totaling $2,760,000. The proceeds from this sale were deposited into the Company’s Trust Account as of November 22, 2021. Each warrant allows the holder to purchase one Class A ordinary share at $11.50. The press release includes cautionary statements regarding forward-looking statements, acknowledging that the completion of transactions and proceeds deposit are subject to various conditions.

Positive

• Issuance of 2,760,000 warrants raises $2,760,000 for the company.
• Warrants provide potential for future capital through share purchases at $11.50.

Negative

• Dependence on the completion of forward-looking transactions raises uncertainty.

SINGAPORE--(BUSINESS WIRE)-- Tiga Acquisition Corp. (the “Company”), announced today that on November 23, 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 November 22, 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/20211124006096/en/

Diana Luo, Tiga Acquisition Corp.

CFO@tigaacquisitioncorp.com

Source: Tiga Acquisition Corp.

FAQ

What was the amount raised by Tiga Acquisition Corp. in the private placement?

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

What is the price per share for the warrants issued by Tiga Acquisition Corp.?

The warrants allow for the purchase of Class A ordinary shares at $11.50 per share.

When were the proceeds from the warrant sale deposited?

The proceeds were deposited into the Company's Trust Account on November 22, 2021.

What cautionary statements were made in the Tiga Acquisition Corp. press release?

The press release included cautionary statements regarding the completion of forward-looking transactions and conditions beyond the Company's control.