Thayer Ventures Acquisition, a blank check company formed by Thayer Ventures targeting the travel and transportation industries, raised $150 million by offering 15 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 is led by Co-CEOs Mark Farrell and Christopher Hemmeter, co-founders and Managing Directors of Thayer Ventures. Prior to Thayer Ventures, Farrell worked 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 plans to list on the Nasdaq under the symbol TVACU. Stifel and Oppenheimer & Co. acted as lead managers on the deal.
