TPB Acquisition Co. I is a special purpose acquisition company incorporated in Delaware in early 2021. The company completed its initial public offering in mid-2021, raising capital through the sale of units, each consisting of one share of common stock and a fraction of a redeemable warrant, and began trading on the Nasdaq under the symbol TPBAU. As a blank‐check vehicle, TPB Acquisition Co. I was formed to identify and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.
Upon completion of its IPO, TPB Acquisition Co. I placed the net proceeds from the offering into a trust account established to fund a future acquisition. These funds, together with any funds raised from the exercise of its warrants or through private placements, are earmarked for a target acquisition or combination. Until a business combination is consummated, the company’s ability to use these funds is limited, with the intention of preserving capital for its intended transaction.
TPB Acquisition Co. I is led by a management team and board of directors with experience in corporate finance, investment banking and transaction execution. While the company has not yet announced a definitive agreement with any target, it is focused on sourcing opportunities across a variety of sectors, including technology, healthcare and consumer services. The SPAC structure provides flexibility in evaluating potential partners and structuring a transaction that aims to deliver value to its public shareholders.
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