IPOs

Tishman Speyer's real estate SPAC TS Innovation Acquisitions files for a $300 million IPO

TS Innovation Acquisitions, a blank check company formed by Tishman Speyer targeting the real estate industry, filed on Friday with the SEC to raise up to $300 million in an initial public offering.

The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, TS Innovation Acquisitions would command a market value of $375 million.

The company is led by CEO and Chairman Robert Speyer, who currently serves as CEO of real estate investment firm Tishman Speyer, and COO, CFO, and Director Paul Galiano, who currently serves as Senior Managing Director of Tishman Speyer. The SPAC plans to leverage its management team's experience and target the real estate industry, including real estate adjacent businesses and technologies targeting the real estate space.

TS Innovation Acquisitions was founded in 2020 and plans to list on the Nasdaq under the symbol TSIAU. The company filed confidentially on September 25, 2020. BofA Securities and Allen & Company are the joint bookrunners on the deal.

The article Tishman Speyer's real estate SPAC TS Innovation Acquisitions files for a $300 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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