TS Innovation Acquisitions Corp., 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., 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.”
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.
