Tiga Acquisition III in an amended S-1 said it will offer 15 million units, down from the 30 million units initially registered in February.
Each unit consists of one Class A ordinary share and one-quarter of one warrant, with whole watrrants redeemable at $11.50 for a share.
While the SPAC did not identify specific sectors it may target, the company said it would concentrate on identifying “significantly attractive valuation as compared to the inherent fundamental value of the business.”
The SPAC is led by G. Raymond Zage, III, founder, chairman and CEO of the company and CEO of Tiga Investments Pte. Ltd. The sponsor’s first Tiga SPAC raised $276 million in a November IPO. Tiga II filed for a $200M IPO in February. That offering has not yet priced.
Credit Suisse and Goldman Sachs (Asia) are joint book-runners on the Tiga III offering, The underwriters have a 45-day option to purchase up to 2.25 million additional units to cover over-allotments, if any.
The SPAC expects to list on the NYSE under TTRE U. Read more.