Tiga Acquisition III notified the SEC via letter of plans to withdraw its 15 million-unit offering. The SPAC’s initial registration for 30 million units in February 2021 was later hacked in half in an amended filing.
While the SPAC had not identified specific sectors it would target, the company said it would concentrate on identifying “significantly attractive valuation as compared to the inherent fundamental value of the business.” The founders are active investors in early stage and growth companies, many of which are technology focused.
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) were tapped as joint book-runners on offering.
The withdrawal comes on the heels of last week’s news that another Tiga SPAC plans to merge with dating app Grindr. Read more.
