DLA Piper advises Tristar Acquisition I Corp. in US$200 million IPO

Rhea-AI Summary

Tristar Acquisition I Corp. (NYSE: TRIS.U) has successfully completed its initial public offering, raising $200 million by selling 20 million units at $10 each. Each unit comprises one share of Class A common stock and a half warrant, with each warrant allowing the purchase of an additional share at $11.50. This SPAC aims to target businesses in the telecommunications and technology sectors. DLA Piper, which represented Tristar, highlighted its expertise in capital markets and the tech industry to facilitate this transaction.

Positive

• Raised $200 million in IPO.
• Aims to target high-growth sectors: telecommunications and technology.
• Partnership with experienced legal advisors at DLA Piper enhances strategic execution.

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• None.

NEW YORK, Oct. 15, 2021 /PRNewswire/ -- DLA Piper represented Tristar Acquisition I Corp. (NYSE: TRIS.U) in its initial public offering of 20,000,000 units at a price of $10 per unit. Each unit 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.

Tristar is a special purpose acquisition company (SPAC) that will focus on businesses related to telecommunications, technology or related businesses. DLA Piper also represented Navigation Capital Partners, Inc., a member of the company's sponsor group.

"It was a pleasure to advise Tristar in its IPO, bringing together our SPAC capabilities, knowledge of the tech sector and capital markets experience to deliver this transaction efficiently," said Curtis Mo, the DLA Piper partner who led the firm's deal team.

In addition to Mo (Silicon Valley), the DLA Piper team included partners Jeffrey Selman (San Francisco) and Kevin Bettsteller (Los Angeles) and associates Spencer Hodson (Sacramento) and Anton Ziajka (Silicon Valley).

DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.

About DLA Piper

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

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SOURCE DLA Piper

FAQ

What is the purpose of Tristar Acquisition I Corp. IPO?

The IPO aims to raise capital for acquiring businesses, particularly in telecommunications and technology sectors.

How much capital did Tristar Acquisition I Corp. raise in its IPO?

Tristar raised $200 million from its IPO.

What is included in each unit from Tristar's IPO?

Each unit consists of one share of Class A common stock and one-half of a redeemable warrant.

What is the exercise price of the warrants issued by Tristar?

The warrants allow the purchase of additional shares at an exercise price of $11.50 per share.

Who advised Tristar on its IPO?

DLA Piper served as the legal advisor for Tristar Acquisition I Corp. during the IPO process.