Tastemaker Acquisition, a blank check company focusing on the restaurant, hospitality, and related tech and services sectors, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. A new investor had indicated on up to 14.9% of the units in the offering.
The company is led by Co-CEOs David Pace and Andrew Pforzheimer. Pace is the former CEO of Jamba (Nasdaq: JMBA) and the current Chairman of Red Robin Gourmet Burgers (Nasdaq: RRGB). Pforzheimer co-founded the Barcelona and Bartaco brands, and served as their CEO for 22 years. The two CEOs are joined by CFO Christopher Bradley, who is currently a Managing Director at Mistral Equity Partners. The company plans to leverage its management team's experience and target the restaurant and hospitality industries.
Tastemaker Acquisition plans to list on the Nasdaq under the symbol TMKRU. Stifel acted as a lead manager on the deal.
