TCV Acquisition, a blank check company formed by Technology Crossover Ventures targeting tech, filed on Friday with the SEC to raise up to $350 million in an initial public offering.
The Menlo Park, CA-based company plans to raise $350 million by offering 35 million shares at $10. Unlike most SPACs, warrants will not be included in this offering. At the proposed deal size, TCV Acquisition will command a market value of $448 million.
The company is led by Chairman Jay Hoag, who co-founded Technology Crossover Ventures in 1995 and serves as Partner. He is joined by Co-CEOs Christopher Marshall and Jon Reynolds Jr., who serve as General Partners at TCV. TCV Acquistion intends to pursue an initial business combination with a high-quality growth company that has the potential to become a market leader in the software, internet, and/or financial technology (“FinTech”) sectors.
TCV Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol TCVA. It filed confidentially on February 17, 2021. Citi, Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.
