Turmeric Acquisition Corp. Announces Pricing of $85 Million Initial Public Offering
Turmeric Acquisition Corp. (the "Company"), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its initial public offering of 8,500,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Stock Market and trade under the ticker symbol "TMPMU" beginning October 16, 2020. 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 Stock Market under the symbols "TMPM" and "TMPMW," respectively.
Turmeric Acquisition Corp., led by Luke Evnin as Chief Executive Officer, Matthew Roden as Chairman, Ed Hurwitz as Chief Financial Officer, Todd Foley as President and Vinay Bhaskar as Chief Operating Officer, will not be limited to a particular industry or geographic region in its identification and acquisition of a target company, except that it does intend to pursue a high potential opportunity within the biotechnology sector.
Credit Suisse Securities (USA) LLC and JMP Securities (News - Alert) LLC are serving as joint book-running managers for this offering. The Company has granted the underwriters a 45day option to purchase up to an additional 1,275,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on October 20, 2020, subject to customary closing conditions.
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, North Carolina 27560, telephone: (800) 221-1037 or email: email@example.com; JMP Securities LLC, Attn: Prospectus Department, 600 Montgomery Street, 10th Floor, San Francisco, CA (News - Alert) 94111, telephone: (415) 835-8935. Registration statements relating to the securities became effective on October 15, 2020. 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.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the 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 (News - Alert)"). 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 by law.