TLG Acquisition One, a blank check company formed by The Lawrie Group, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.
The West Palm Beach, FL-based company plans to raise $300 million by offering 30 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, TLG Acquisition One will command a market value of $375 million.
The company is led by CEO and Chairman John "Mike" Lawrie, who founded The Lawrie Group in 2005 and currently serves as CEO, and CFO and Director David Johnson, who previously worked at Blackstone Group, most recently as a Senior Advisor from 2017 to 2020. TLG Acquisition One intends to capitalize on management's experience and domain knowledge across specific sectors, including information technology, healthcare, business services, and financial services. They may also consider companies that are geared towards addressing evolving environmental, social, and governance ("ESG") related issues.
TLG Acquisition One was founded in 2020 and plans to list on the NYSE under the symbol TLGA.U. RBC Capital Markets is the sole bookrunner on the deal.
