TLGY Acquisition, a blank check company formed by TLGY Holdings targeting the biopharma and tech-enabled B2C industries, raised $200 million by offering 20 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock, one-half of a warrant, exercisable at $11.50, and a contingent right to receive at least one-fourth of a warrant following the initial business combination redemption time.
The company is led by CEO and Chairman Jin-Goon Kim, the founder of private investment firm TLGY Holdings and a former Partner with TPG Capital. The company plans to target industries where it believes management's expertise will provide a competitive advantage, including biopharma or technology-enabled business-to-consumer (B2C) industries globally. It stated that it will not target opportunities in China.
TLGY Acquisition plans to list on the Nasdaq under the symbol TLGY.U. Mizuho Securities acted as sole bookrunner on the deal.
