Valencia, Calif. — Thayer Ventures Acquisition Corporation (TVAC), a special purpose acquisition company, announced the closing of its initial public offering of 17,250,000 units, including 2,250,000 units issued to the underwriters upon full exercise of their over-allotment option, at a price of $10.00 per unit. The units began trading on the Nasdaq Capital Market on December 11, 2020, under the ticker symbol “TVACU.”
TVAC is a newly formed blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While the company may pursue an acquisition opportunity in any industry or sector, it intends to focus on the travel and transportation technology sectors, which align with the background and investing experience of the company’s management team.
Stifel, Nicolaus & Company, Incorporated, and Oppenheimer & Co. Inc. acted as joint book-running managers for the offering.