TZP SPAC raises $250m for IPO

TZP Strategies Acquisition Corp, a blank check company sponsored by TZP Group, has raised $250 million for its IPO after pricing its 250 million shares at $10 per share. The stock began trading January 20, 2021 on the NASDAQ under the ticker symbol “TZPSU.” Credit Suisse Securities (USA) LLC served as the underwriter.

PRESS RELEASE

NEW YORK, Jan. 19, 2021 /PRNewswire/ — TZP Strategies Acquisition Corp. (the “Company”), a blank check company sponsored by TZP Group Holdings, L.P. (“TZP”) and formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 25,000,000 units at a price of $10.00 per unit.

While the Company may pursue an initial business combination target in any business or industry, the Company intends to target companies in the technology and business services as well as consumer products and services industries. The Company’s sponsor is an affiliate of TZP, an operator driven investment firm that manages approximately $1.9 billion of committed and co-investor capital targeting lower middle market companies in identified focus sectors with strong growth prospects.

The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “TZPSU” beginning January 20, 2021. Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq under the symbols “TZPS” and “TZPSW,” respectively. The offering is expected to close on January 22, 2021, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC acted as book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Credit Suisse Securities (USA) LLC Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com.

A registration statement relating to the securities became effective on January 19, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.