TINVU = 1C + 1/2W
1W + $11.50. Call $18.
Term = 6 months. Option to extend to 24 months. Closed 11/27/20.
Trust = $10.10. $278,760,000, ($10.10 per unit) were placed in US trust account w/ Stock Transfer & Trust Company as trustee
CREDIT SUISSE & GOLDMAN SACHS (Asia) L.L.C.
On November 27, 2020, Tiga Acquisition Corp. (the “Company”) consummated its initial public offering (the “IPO”) of 27,600,000 units (the “Units”), including the issuance of 3,600,000 Units as a result of the underwriters’ exercise in full of their over-allotment option. Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share (“Class A Ordinary Shares”), and one-half of one redeemable warrant of the Company (“Warrant”), each whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share at an exercise price of $11.50 per share. The Units were sold at a price of $10.00 per unit, generating gross proceeds to the Company of $276,000,000.
We are a newly incorporated blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any potential business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any potential business combination target.
We will seek to capitalize on the more than 46 years of combined financing and investment experience of our founders G. Raymond Zage, III and Ashish Gupta.
G. Raymond Zage, III has over 26 years of corporate finance and investing experience across a wide range of industries and regions. Mr. Zage was the Managing Director and CEO of Farallon Capital Asia Pte Ltd, which manages capital on behalf of Farallon Capital Management LLC (together with Farallon Capital Asia Pte Ltd “Farallon”), one of the largest hedge funds in the world. Mr. Zage managed Asian investments for Farallon from San Francisco and London before establishing its office in Singapore in 2002. Mr. Zage built Farallon’s Asian business into a highly successful investment franchise, investing in public and private debt, public and private equity and real estate situations across Farallon’s global focus on credit, arbitrage, value investing and special situations. In addition to managing Farallon’s global multi strategy funds, he was also responsible for raising a series of Asian and emerging market focused funds oriented around special situations investments. In 2017, Mr. Zage started Tiga Investments Pte Ltd (“Tiga”) as a permanent capital vehicle to leverage his deep global relationships and special situations expertise to invest in differentiated businesses with strong management teams and build long term value in such businesses.
Mr. Zage holds board positions in a number of large public and private companies including Toshiba Corporation, Whitehaven Coal Limited, the holding company of Gojek, and Lippo Karawaci Tbk PT. Gojek is the first Indonesian startup company to achieve a valuation of approximately $10 billion and Lippo Karawaci is one of the largest real estate development companies in Indonesia and owner of the largest chain of hospitals in Indonesia. In addition to these companies, Mr. Zage is involved in board and advisory capacities with a number of smaller companies including Deposco, Inc, a US based company focused on cloud based logistics software, and Cosmose, Ltd, a Hong Kong based company which provides consumer data and analytics. Mr. Zage has also continued to serve as a senior advisor to Farallon where he is responsible for, among other things, reviewing its global private investments.
Ashish Gupta has over 20 years of corporate finance and investing experience across industries such as financial services, technology, media, natural resources and infrastructure. Mr. Gupta joined Farallon in 2007 and worked with Mr. Zage on most of the private investments done by Farallon from 2007 to 2019. Mr. Gupta led a number of transactions in private equity, private credit and restructuring. Mr. Gupta became a managing director at Farallon in 2010 and partner in 2015. Mr. Gupta joined Tiga in 2019.
Funds managed by Messrs. Zage and Gupta have invested in over 60 private equity and credit transactions in excess of $5 billion in aggregate. These investments ranged from growth and technology-oriented equity investments to structured credit and hybrid instruments to deep value investments and restructurings. The subject companies in these investments spanned a variety of industries and geographies. The industry groups included infrastructure, telecom/media, technology, financial services, manufacturing, real estate, resources and energy. The geographies included Asia, North America and South America. Several of these investments were or became public companies during Farallon ownership. The common thread among all of these investments was our founders’ expertise in identifying special situations where identifiable catalysts could transform the value of these investments and provide attractive risk adjusted returns to their investors.