FORT WORTH, Texas–(BUSINESS WIRE)–TPG Pace Holdings Corp. (the “Company”), a newly organized blank
check company incorporated as a Cayman Islands exempted company and
formed for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses, today announced the closing of
its initial public offering of 45,000,000 units, which includes
5,000,000 units issued pursuant to the partial exercise by the
underwriters of their over-allotment option. The offering was priced at
$10.00 per unit, resulting in gross proceeds of $450,000,000, before
deducting underwriting discounts and commissions and other offering
expenses payable by the Company.
The Company’s units began trading on the New York Stock Exchange under
the ticker symbol “TPGH.U” on June 28, 2017. Each unit consists of one
of the Company’s Class A ordinary shares and one-third of one warrant,
each whole warrant enabling the holder thereof to purchase one Class A
ordinary share 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 New York Stock Exchange
under the symbols “TPGH” and “TPGH WS,” respectively.
Deutsche Bank Securities, Goldman Sachs & Co. LLC, and J.P. Morgan
Securities LLC served as joint book runners for the offering.
The offering was made only by means of a prospectus, copies of which may
be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Group,
60 Wall Street, New York, NY 10005-2836, tel: (800) 503-4611, email: prospectus.CPDG@db.com;
Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street,
New York, NY 10282, tel: (866) 471-2526, fax: (212) 902-9316, email: firstname.lastname@example.org;
and J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel: 1-866-
803-9204, email: email@example.com.
A registration statement relating to the securities has been declared
effective by the SEC on June 27, 2017. 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,” including with respect to the anticipated use of the net
proceeds from the initial public offering. No assurance can be given
that the net proceeds of the initial public offering will be used as
indicated. 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 and preliminary prospectus for the Company’s
offering filed with the Securities and Exchange Commission (“SEC”).
Copies 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
About TPG Pace Holdings Corp.
TPG Pace Holdings Corp. is a special purpose acquisition company formed
by TPG Pace Group for the purpose of entering into a merger, stock
purchase, or similar business combination with one or more businesses.
The strategy of TPG Pace Holdings Corp. is to identify and acquire
businesses that are better suited to generate strong returns in a public
market environment while benefitting from the broader operational
knowledge, resources and private equity heritage of TPG Global, LLC
About TPG Pace Group
TPG Pace Group is the firm’s dedicated permanent capital platform,
created in 2015 with the objective of sponsoring special purpose
acquisition companies and other permanent capital solutions for
companies. TPG Pace Group has a long-term, patient, and highly flexible
capital base, allowing us to seek transactions across industries
and geographies. The creation of TPG Pace Group builds on TPG’s efforts
to grow its private equity offering by servicing different return
profiles and product types. Since the start of 2014, the firm has
launched several new products, including TPG Pace Group, TPG Real Estate
Finance Trust, TSL Europe and Arrow Ridge Capital.