SAN FRANCISCO & FORT WORTH, Texas–(BUSINESS WIRE)–Oct 9, 2020–
TPG Pace Beneficial Finance Corp. (the “Company”), a newly organized blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 35,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $350,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
The Company’s units began trading on the New York Stock Exchange under the ticker symbol “TPGY.U” on October 7, 2020. Each unit consists of one of the Company’s Class A ordinary shares and one-fifth of one warrant, each whole warrant enabling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “TPGY” and “TPGY WS,” respectively.
TPG Pace Beneficial Finance Corp. is focused on sponsoring the public listing of a company that combines attractive business fundamentals with, or with the potential for strong environmental, social and governance principles and practices through a business combination.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Barclays Capital Inc. are serving as joint book runners for the offering. TPG Pace Beneficial Finance Corp. has granted the underwriters a 45-day option from the pricing of the offering to purchase up to an additional 5,250,000 units at the initial public offering price to cover over-allotments, if any.
The offering was made only by means of a prospectus, copies of which may be obtained from