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SPAC TLG Acquisition One prices upsized $350 million IPO

January 28, 2021
TLGA.U

TLG Acquisition One, a blank check company formed by The Lawrie Group, raised $350 million by offering 35 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

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 plans to list on the NYSE under the symbol TLGA.U. RBC Capital Markets acted as a lead manager on the deal.