Kimbell Tiger Acquisition priced its initial public offering of 20 million units at $10 each. Units list on the New York Stock Exchange under the ticker symbol TGR.U starting today. Each consists of one share and one-half of a warrant. When the securities begin separate trading, stock and warrants are expected to be listed under the symbols TGR and TGR.WS.
The SPAC intends to search for a target in the energy and natural resources industry in North America.
The company’s management team is led by Zachary Lunn and includes other members of Kimbell’s current management team. Under the terms of the offering, the sponsor of TGR, which is controlled by Kimbell, is expected to own 20% of TGR’s issued and outstanding common stock.
UBS Investment Bank is sole book-running manager for the offering. Tudor, Pickering, Holt & Co. is capital markets advisor. Read more.
