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Tech-focused SPAC Tailwind Two Acquisition files for a $300 million IPO

February 17, 2021

Tailwind Two Acquisition, a third blank check company formed by Casper CEO Philip Krim targeting a technology business, filed on Wednesday with the SEC to raise up to $300 million in an initial public offering.

The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Tailwind Two Acquisition would command a market value of $375 million.

The company is led by Chairman Philip Krim, who co-founded Casper (NYSE: CSPR) and has served as CEO since its 2013 inception; Co-CEO, CFO, and Director Matt Eby, who recently founded Seawall Capital and serves as Managing Partner; and Co-CEO and Director Chris Hollod, who founded venture firm Hollod Holdings and has been Managing Partner since its 2014 inception.

Tailwind Two Acquisition intends to focus within the high-growth technology and direct-to-consumer sectors. The group's previous SPAC, Tailwind Acquisition (TWND.U; +22% from $10 offer price), raised $300 million in September 2020. Philip Krim is also affiliated with another SPAC, Tailwind International Acquisition (TWNI.U), which filed in January 2021 to raise $250 million.

Tailwind Two Acquisition was founded in 2020 and plans to list on the NYSE. It has not yet chosen a ticker (RC ticker: TTAU.RC). It filed confidentially on December 16, 2020. Jefferies is the sole bookrunner on the deal.