Tech SPAC Tailwind Two Acquisition prices $300 million IPO

Tailwind Two Acquisition, the third blank check company formed by Casper CEO Philip Krim targeting a technology business, raised $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.

The company is led by Chairman Philip Krim, who co-founded Casper (CSPR) and has served as CEO since its 2013 inception; Co-CEO, CFO, and Director Matt Eby, the founder and Managing Partner of Seawall Capital; and Co-CEO and Director Chris Hollod, the founder and Managing Partner of venture firm Hollod Holdings. Tailwind Two Acquisition intends to focus within the high-growth technology and direct-to-consumer sectors.

The group's previous SPAC, Tailwind Acquisition (TWND; +1% from $10 offer price), went public in September 2020 and has a pending merger agreement with risk analytics provider QOMPLX. Philip Krim is also affiliated with another SPAC, Tailwind International Acquisition (TWNI.U; +5%), which went public last month.

Tailwind Two Acquisition plans to list on the NYSE under the symbol TWNT.U. Jefferies acted as a lead manager on the deal.