TS Innovation Acquisitions Corp., a blank check company formed by Tishman Speyer targeting real estate and property technology businesses, raised $300 million by offering 30 million units at $10. Units consist of one share of common stock and one-third of a warrant, exercisable at $11.50.
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The company is led by CEO and Chairman Robert Speyer, who currently serves as CEO of real estate investment firm Tishman Speyer; COO, CFO, and Director Paul Galiano, who currently serves as Senior Managing Director of Tishman Speyer; and CIO and Director Jenny Wong, who serves as Tishman Speyer's Managing Director of Innovation.
The SPAC plans to leverage its management team's experience and target the real estate industry, including real estate adjacent businesses and technologies. It cites later-stage businesses in the "Proptech" sector that possess strong management teams, exhibit significant future growth potential, and have demonstrated the ability to disrupt the real estate market through technology-driven transformation.
TS Innovation Acquisitions plans to list on the Nasdaq under the symbol TSIAU. BofA Securities and Allen & Company acted as lead managers on the deal.
