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

Tiga Acquisition II, the second blank check company formed by Tiga Investments, filed on Friday 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-fourth 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 the sponsor. At the proposed deal size, Tiga Acquisition II 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. 

Management's other SPACs include Tiga Acquisition III (TTRE.U), which filed concurrently with Tiga Acquisition II, and Tiga Acquisition (TINV.U; +14% from $10 offer price), which went public in November 2020.

Tiga Acquisition II was founded in 2021 and plans to list on the NYSE under the symbol TTO.U. The company filed confidentially on February 19, 2021. Credit Suisse and Goldman Sachs (Asia) are the joint bookrunners on the deal.