Investment veterans' SPAC Tiga Acquisition files for a $200 million IPO

Tiga Acquisition, a blank check company formed by Tiga Investments, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.

The Singapore-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The company may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor. At the proposed deal size, Tiga Acquisition would command a market value of $250 million.

The company is led by CEO and Chairman Raymond Zage III, founder and CEO of Tiga Investments and former Managing Director and CEO of Farallon Capital Asia, and President and Director Ashish Gupta, Managing Director of Tiga Investments and a former Partner and Portfolio Manager at Farallon Capital Asia. While the company has not selected a target industry yet, the company plans to pursue businesses with fundamentally sound business models that may be temporarily misunderstood by the marketplace, among other criteria.

Tiga Acquisition was founded in 2020 and plans to list on the NYSE under the symbol TINVU. The SPAC filed confidentially on August 5, 2020. Credit Suisse and Goldman Sachs are the joint bookrunners on the deal.