Thayer Ventures' travel-focused SPAC Thayer Ventures Acquisition files for a $175 million IPO

Thayer Ventures Acquisition, a blank check company formed by Thayer Ventures targeting the travel and transportation industries, filed on Thursday with the SEC to raise up to $175 million in an initial public offering.

The Valencia, CA-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable $11.50. At the proposed deal size, Thayer Ventures Acquisition would command a market value of $219 million.

The company is led by Co-CEOs Mark Farrell and Christopher Hemmeter, co-founders and Managing Directors of Thayer Ventures. Prior to Thayer Ventures, Farrell served in San Francisco politics, most recently as Mayor in 2018, and Hemmeter was a serial entrepreneur, most recently founding iCare Marketing which was sold to Sysco Foodservice. Thayer Ventures Acquisition plans to concentrate on sourcing business combination opportunities within travel and transportation technology.

Thayer Ventures Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol TVACU. The company filed confidentially on August 21, 2020. Stifel and Oppenheimer & Co. are the joint bookrunners on the deal. 

The article Thayer Ventures' travel-focused SPAC Thayer Ventures Acquisition files for a $175 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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