Thayer Ventures Acquisition Corp., a special purpose acquisition company, has closed its initial public offering of 17.25 million units, including 2.25 million units issued to the underwriters upon full exercise of their over-allotment option, at a price of $10 per unit.
The units began trading on The Nasdaq Capital Market on December 11 under the ticker symbol "TVACU.”
Each unit issued in the offering consists of one share of the company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units commence separate trading, the shares of Class A common stock and redeemable warrants are expected to be respectively listed on Nasdaq under the symbols “TVAC” and “TVACW.” No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Stifel, Nicolaus & Company and Oppenheimer & Co. acted as joint book-running managers for the offering.
A registration statement relating to the securities became effective on Dec. 10. The offering was made only by means of a prospectus, which forms a part of the registration statement.