SPAC Thayer Ventures rises on deal to take Inspirato public

Inspirato

30/06/2021 14:07

** Shares of special purpose acquisition company Thayer
Ventures Acquisition Corp  TVAC.O  up 1.2% at $10.14 premarket
    ** Co to take travel subscription brand Inspirato LLC public
through a merger  urn:newsml:reuters.com:*:nBw257NDKa
    ** Deal values combined entity at $1.1 billion; to provide
$260 million in net cash proceeds
    ** Proceeds to include a PIPE, or private investment in
public equity of $100 million 
    ** SPACs like Thayer are shell companies which raise funds
through IPO to take a private company public through a merger at
a later date
    ** Combined firm is expected to be listed on the Nasdaq
under the symbol "ISPO"

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))