TCW Special Purpose Acquisition priced it upsized IPO of 45 million units at $10 each. The SPAc offered 5 million mor units than expected.
The SPAC is sponsored by global investment management firm The TCW Group. Management is associated with TCW’s New America Premier business unit, which was established by Joseph R. Shaposhnik in 2015. Shaposhnik serves as chairman and CEO of the SPAC.
TCW said it intends “to identify, merge with and take public a durable and predictable business well positioned to deliver superior revenue growth.”
The SPAC’s units begin trading today on the NYSE under TSPQ.U. Each consists of one share of Class A common stock and one-third of one warrant, each whole warrant exercisable to purchase a share of Class A common stock at $11.50. Once the securities constituting the units begin separate trading, stock and warrants will list under TSPQ and TSPQ WS, respectively. Read more.
