Tio Tech A, a blank check company targeting technology-enabled businesses in Europe, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The Berlin, Germany-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. Anchor investors Steadview Capital Mauritius and a subfund of BIT RAIF SICAV have indicated on $23 million worth of units in the offering. At the proposed deal size, Tio Tech A would command a market value of $375 million.
The company is led by Chairman Dominik Richter, the founder and CEO of HelloFresh (FRA: HFG), and CEO and Director Roman Kirsch, who has been co-founding and investing in digitally native consumer brands through his Rapid Pioneers Group since 2013. The company plans to target technology-enabled businesses in Europe, focusing on those with enterprise values in excess of $750 million.
Tio Tech A was founded in 2021 and plans to list on the Nasdaq under the symbol TIOAU. Deutsche Bank is the sole bookrunner on the deal.
