News Alert: Thunder Bridge Prices an Upsized $225 Million SPAC

Financial Services-Focused SPAC, Thunder Bridge Acquisition, Ltd. to Begin Trading Tuesday

This morning, Thunder Bridge announced the pricing of their upsized $225 million SPAC.  The unit will begin trading Tuesday under the symbol TBRGU.

This marks the eighteenth SPAC for 2018 bringing the total SPAC IPO proceeds raised this year to $4.9 billion.  Additionally, the pricings for LF Capital and Twelve Seas are not far behind and are expected to price later this week or next.

Congratulations to the Underwriters – Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. Chardan is acting as lead manager.

Summary of terms are as follows:

• Total Public Proceeds: $225 million
• Focus:  Financial Services
• $10.00 unit comprised of one Class A Ordinary Share, one full Warrant
• Warrant redemption threshold: equals or exceeds $18.00 (cash or cashless exercise)
• 101% held in trust ($10.10 per share)
• 18 months to complete an acquisition
• Limitation on redemption rights:   a shareholder can redeem no more than 15% of the shares sold in the offering.