Trine II Acquisition, the second SPAC led by Leo Hindery targeting the TMT industries, raised $360 million by offering 36 million units at $10. The company offered 6 million more units than anticipated. It originally planned to offer 42.5 million units before lowering the proposed deal size in October. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Leo Hindery Jr., the founder and Managing Partner of InterMedia Partners, and CEO and Director Pierre Henry, who previously was VP of Corporate Development & Investor Relations at InterMedia Partners-backed Hemisphere Media Group. Trine II Acquisition's focus is centered on partnering with innovative and disruptive TMT companies based in North America and Europe.
Trine II Acquisition plans to list on the NYSE under the symbol TRAQ.U. Morgan Stanley acted as sole bookrunner on the deal.
