Turmeric Acquisition Corp. (TMPMU) Prices $85M IPO


Turmeric Acquisition Corp. (TMPMU) Prices $85M IPO

Turmeric Acquisition Corp. announced the pricing of its $85 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “TMPMU” tomorrow, Friday, October 16.

The new company aims to combine with a biotechnology target that would be a strong candidate for an eventual sale to a strategic suitor. Turmeric is led by Chairman Matthew Roden, CEO Luke Evnin, President Todd Foley, CFO Ed Hurwitz, and COO VInay Bhaskar.

Total SPAC deal count for 2020 year-to-date is now 142 with $54.7 billion in gross proceeds raised. This offering is expected to close on Tuesday, October 20.

Credit Suisse Securities (USA) LLC and JMP Securities LLC are serving as joint book running manager for the offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.