VALENCIA, CA—Thayer Ventures Acquisition Corporation (TVAC), a special purpose acquisition company, has revealed the closing of its initial public offering of 17.25 million units, including 2.25 million units issued to the underwriters upon full exercise of their over-allotment option, at a price of $10 per unit. The units began trading on the Nasdaq Capital Market on Dec. 11 under the ticker symbol “TVACU.”
“We’re happy to announce the launch of the Thayer Ventures Acquisition Corporation,” said Chris Hemmeter, managing director of Thayer Ventures. “Our roots are in travel and transportation tech investing and the pace of innovation in the space is only accelerating. At a moment of huge disruption, we look forward to working with promising companies and technologies to push the industry forward.“
Each unit issued in the offering consists of one share of the company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units commence separate trading, the shares of Class A common stock and redeemable warrants are expected to be respectively listed on Nasdaq under the symbols “TVAC” and “TVACW.” No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Stifel, Nicolaus & Company, Inc. and Oppenheimer & Co. Inc. acted as joint book-running managers for the offering.