TS Innovation Acquisitions, a blank check company formed by Tishman Speyer targeting the real estate industry, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, TS Innovation Acquisitions would command a market value of $375 million.
The company is led by CEO and Chairman Robert Speyer, who currently serves as CEO of real estate investment firm Tishman Speyer, and COO, CFO, and Director Paul Galiano, who currently serves as Senior Managing Director of Tishman Speyer. The SPAC plans to leverage its management team's experience and target the real estate industry, including real estate adjacent businesses and technologies targeting the real estate space.
TS Innovation Acquisitions was founded in 2020 and plans to list on the Nasdaq under the symbol TSIAU. The company filed confidentially on September 25, 2020. BofA Securities and Allen & Company are the joint bookrunners on the deal.
