SPAC Tio Tech A prices $300 million IPO, targeting tech-enabled businesses in Europe

Tio Tech A, a blank check company targeting technology-enabled businesses in Europe, 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. Anchor investors Steadview Capital Mauritius and a subfund of BIT RAIF SICAV had indicated on $23 million worth of units in the offering.

The company is led by Chairman Dominik Richter, the founder and CEO of HelloFresh (FRA: HFG), and CEO and Director Roman Kirsch, who co-founds and invests in digitally native consumer brands through his Rapid Pioneers Group. The company plans to target technology-enabled businesses in Europe, focusing on those with enterprise values in excess of $750 million.

Tio Tech A plans to list on the Nasdaq under the symbol TIOAU. Deutsche Bank acted as a lead manager on the deal.