TPG Pace Beneficial II Corp. Announces Pricing of $350,000,000 Initial Public Offering
TPG Pace Beneficial II Corp. has priced its initial public offering of 35,000,000 Class A ordinary shares at $10.00 each, aiming to close on April 16, 2021. The shares will be listed on the NYSE under ticker symbol 'YTPG.' The company focuses on merging with businesses possessing strong environmental, social, and governance fundamentals. Underwriters have a 45-day option to purchase an additional 5,250,000 shares to cover over-allotments. This offering marks TPG Pace Beneficial II Corp's strategy to enter the public market.
- Initial public offering of 35,000,000 shares priced at $10.00 each.
- Focus on acquiring businesses with strong environmental, social, and governance policies.
- Underwriters granted a 45-day option to purchase an additional 5,250,000 shares.
- No assurance that the offering will complete as proposed.
- Potential dilution of shares if underwriters exercise the option.
TPG Pace Beneficial II Corp. (the “Company”), a newly organized blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 35,000,000 Class A ordinary shares at a price of
The Company is focused on sponsoring the public listing of a company that combines attractive business fundamentals with, or with the potential for, strong environmental, social and governance policies.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are serving as joint book runners for the offering, and Northland Securities, Inc. and Siebert Williams Shank & Co., LLC are serving as co-managers. In connection with the offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 5,250,000 shares at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, NY 10005, email: prospectus.cpdg@db.com; tel: (800) 503-4611; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: prospectus-eq_fi@jpmchase.com, tel: (866) 803-9204; and Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, email: prospectus-ny@ny.email.gs.com, tel: (866) 471-2526.
A registration statement relating to the securities has been declared effective by the SEC on April 13, 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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 preliminary prospectus for the Company’s 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.
About TPG Pace Beneficial II Corp.
TPG Pace Beneficial II Corp. is a special purpose acquisition company formed by TPG Pace Group for the purpose of entering into a merger, stock purchase, or similar business combination with one or more businesses. The strategy of TPG Pace Beneficial II Corp. is to identify and acquire businesses that are better suited to generate strong returns in a public market environment with, or with the potential for, strong environmental, social and governance policies.
About TPG Pace Group
TPG Pace Group is the firm's dedicated permanent capital platform, created in 2015 with the objective of sponsoring special purpose acquisition companies and other permanent capital solutions for companies. Since that time, the platform has successfully listed six SPACs and completed three transactions and has two announced transactions. TPG Pace Group has a long-term, patient, and highly flexible capital base, allowing us to seek transactions across industries and geographies. The creation of TPG Pace Group builds on TPG’s efforts to grow its private equity offering by servicing different return profiles and product types.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210413006238/en/
FAQ
What is TPG's initial public offering price and share count?
When will trading for TPG shares commence?
What is the purpose of TPG's IPO?
Who are the underwriters for TPG's IPO?
What options do underwriters have in the TPG IPO?
