Thayer Ventures Acquisition Corporation Announces Filing of S-1 Registration Statement

Rhea-AI Summary

Thayer Ventures Acquisition Corporation (TVAC) has filed a Registration Statement on Form S-1 with the SEC for a proposed $175 million initial public offering (IPO) consisting of 17.5 million units priced at $10.00 each. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, with whole warrants priced at $11.50 per share. The funds aim to facilitate a business combination in the travel and transportation technology sectors. The offering is managed by Stifel and Oppenheimer & Company.

Positive

• Proposed $175 million IPO to enhance capital resources.
• Focused on travel and transportation technology, aligned with investor expertise.
• Potential for significant growth through mergers and acquisitions.

Negative

• Forward-looking statements imply uncertainty regarding the IPO's completion.
• Market conditions may affect the success of the business combination.

SAN FRANCISCO, CA / ACCESSWIRE / October 9, 2020 / Thayer Ventures Acquisition Corporation (the "Company" or "TVAC"), a special purpose acquisition company, has filed a registration statement on Form S-1 (the "Registration Statement") with the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed $175,000,000 initial public offering of 17,500,000 units at a price of $10.00 per unit, consisting of one share of Class A common stock, 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. The Company has applied to list its units on The Nasdaq Stock Market under the symbol "TVACU."

Thayer Ventures Acquisition Corporation is a newly formed blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the "Business Combination"). While the Company may pursue an acquisition opportunity in any industry or sector, it intends to focus on the travel and transportation technology sectors, which align with the background and investing experience of Thayer Ventures.

Stifel and Oppenheimer & Company are acting as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option from the date of the final prospectus to purchase up to an additional 2,625,000 units to cover over-allotments, if any.

The proposed offering will be made only by means of a prospectus, which forms a part of the Registration Statement. Copies of the preliminary prospectus relating to the proposed offering may be obtained, when available, for free by visiting EDGAR on the SEC's website at www.sec.gov.

Alternatively, copies of the preliminary prospectus, when available, may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by email at syndprospectus@stifel.com or by telephone at 415-364-2720.

The Registration Statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 initial public offering and search for a Business Combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 Registration Statement filed with the 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.

TVAC Media Contact:

Michael Frenkel, Thayer Ventures
(201) 317-7035
TVAC@Thayerventures.com

TVAC Investor Relations Contact:

Chris Tyson
Executive Vice President
SPAC Alpha IR+
(949) 491-8235
TVAC@mzgroup.us

SOURCE: Thayer Ventures Acquisition Corporation

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https://www.accesswire.com/609909/Thayer-Ventures-Acquisition-Corporation-Announces-Filing-of-S-1-Registration-Statement

FAQ

What is the purpose of Thayer Ventures Acquisition Corporation's IPO?

The IPO aims to raise $175 million to pursue a business combination in the travel and transportation technology sectors.

How much is Thayer Ventures seeking in its initial public offering?

Thayer Ventures is seeking $175 million through its IPO.

What will investors receive in each unit of the IPO?

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

When will Thayer Ventures' IPO registration statement become effective?

The registration statement has been filed but has not yet become effective; securities cannot be sold until then.

Who are the underwriters for Thayer Ventures' IPO?

Stifel and Oppenheimer & Company are acting as joint book-running managers for the IPO.