Cannabis SPAC Tuatara Capital Acquisition files for a $150 million IPO
Ryan Allway
January 28th, 2021
News
Tuatara Capital Acquisition, a blank check company formed by Tuatara Capital targeting the cannabis industry, filed on Wednesday with the SEC to raise up to $150 million in an initial public offering.
The New York, NY-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Tuatara Capital Acquisition would command a market value of $188 million.
The company is led by CEO and Director Albert Foreman, co-founder, Managing Partner, and CIO of cannabis sector-focused private equity firm Tuatara Capital; COO and Director Mark Zittman, co-founder and a senior advisor at Tuatara Capital; and Chairman Richard Taney, a senior advisor at Tuatara Capital and former CEO of Curaleaf (TSXV: CURA). The company plans to target businesses in the cannabis industry that are compliant with all applicable laws and regulations within the jurisdictions in which they are located or operate.
Tuatara Capital Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol TCACU. The company filed confidentially on February 14, 2020. J.P. Morgan and BMO Capital Markets are the joint bookrunners on the deal.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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