NEW YORK, Nov. 16, 2020 /PRNewswire/ -- TS Innovation
Acquisitions Corp. (the "Company"), a blank check company whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses, announced that it
has closed its initial public offering of 30,000,000 units at
$10.00 per unit on November 13, 2020. Each unit consists of one
share of common stock and one-third of one redeemable warrant.
The Company's units are listed and trade on the Nasdaq Capital
Market under the symbol "TSIAU". BofA Securities and Allen &
Company LLC acted as joint book-running managers for the
offering.
The sponsor of the Company is TS Innovation Acquisitions
Sponsor, L.L.C., an affiliate of Tishman Speyer Properties, L.P.
("Tishman Speyer"), a leading owner,
developer, operator and investment manager of first-class real
estate in 27 key markets across the
United States, Europe,
Asia and Latin America.
While the Company may pursue acquisition opportunities in any
industry or geographic region, it intends to focus on combining
with a transformative, technology-driven business, which is
tailored to the real estate sector and can benefit from
Tishman Speyer's leading brand,
operational expertise and its global network of properties,
relationships, vendors and customers, including real estate
adjacent businesses and technologies targeting the real estate
space, referred to as "Proptech" businesses. The Company will
primarily target later-stage businesses in the Proptech sector that
possess strong management teams, exhibit significant future growth
potential, and have demonstrated the ability to disrupt the real
estate market through technology-driven transformation.
Tishman Speyer has consistently
driven innovation throughout its global portfolio, with more than
1,200 employees worldwide, assets under management of $48 billion, and 78 million square feet under
management across 105 assets as of June 30,
2020. Its portfolio includes iconic projects such as
Rockefeller Center in New York
City, The Springs in
Shanghai, TaunusTurm in
Frankfurt, Lumière in Paris, Torre
Norte in São Paulo and the Mission Rock neighborhood
currently being realized in San
Francisco. Since its inception, Tishman Speyer has built a successful, 40-year
track record of real estate investing, both via hundreds of
individual investments and through its value-add, opportunistic and
core funds. Over the past three years, Tishman Speyer has invested in 11 tech-centric
real estate platforms, acting as both a strategic partner and an
important source of growth capital for a range of growing Proptech
firms.
"We believe we are well positioned to identify diverse targets
and capitalize on rising demand for new tech," said the Company's
Chief Executive Officer and Chairman, Robert J. Speyer, who also serves as the
President and Chief Executive Officer of Tishman Speyer. "Our integrated real estate
platform and breadth of expertise make us a great fit, especially
for companies looking for a strategic partner to help guide growth
and add lasting value."
The initial public offering was made only by means of a
prospectus. A copy of the prospectus may be obtained from BofA
Securities, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, Attn:
Prospectus Department, or email: dg.prospectus_requests@bofa.com;
or Allen & Company LLC, 711 5th Avenue, New York, NY 10022, Attn: Prospectus
Department, telephone: (212) 339-2220, or email:
allenprospectus@allenco.com.
A registration statement relating to the securities was filed
with, and declared effective by, the Securities and Exchange
Commission ("SEC"). 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.
This press release contains statements that constitute
"forward-looking statements." Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the "Risk
Factors" section of the Company's registration statement filed with
the SEC and the preliminary prospectus included therein. Copies of
these documents are available on the SEC's website, www.sec.gov.
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
About TS Innovation Acquisitions Corp.
TS Innovation Acquisitions Corp., a Delaware corporation, is a blank check company
whose business purpose is to effect a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
sponsor of TS Innovation Acquisitions Corp. is TS Innovation
Acquisitions Sponsor, L.L.C., an affiliate of Tishman Speyer, a leading owner, developer,
operator and investment manager of first-class real estate in 27
key markets across the United
States, Europe,
Asia and Latin America. With global vision,
on-the-ground expertise and a personalized approach, Tishman Speyer is able to foster innovation,
quickly adapt to global and local trends and proactively anticipate
its customers' evolving needs. By focusing on health and
wellness, enlightened placemaking and customer-focused initiatives
such as its tenant amenities platform, ZO., and its flexible space
and co-working brand, Studio, Tishman
Speyer tends not just to its physical buildings, but to the
people who inhabit them on a daily basis.
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SOURCE TS Innovation Acquisitions Corp.