TCGX Acquisition, a blank check company formed by TCGX executives targeting healthcare in Asia, raised $75 million by offering 7.5 million shares at $10. Unlike most SPACs, TCGX Acquisition did not offer units with warrants or rights attached.
TCGX Acquisition is led by CEO and Director Chen Yu, the founder and Managing Member of TCG Crossover (TCGX). He is joined by CFO and Director Craig Skaling, the CFO and COO of TCGX. The SPAC intends to target life sciences and medical technology sectors in Asia.
The Palo Alto, CA-based company will trade on the Nasdaq under the symbol TCGX. Jefferies acted as sole bookrunner on the deal.
