Energy SPAC Kimbell Tiger Acquisition Prices US$200 Million IPO
Blank check company Kimbell Tiger Acquisition Corporation (NYSE: TGR.U) went public today on the New York Stock Exchange. The company is seeking to raise US$200.0 million through its initial public offering.
The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable to purchase one common share at US11.50 per share. The units will be trading under the symbol “TGR.U” but once the securities are separated, the common shares and the purchase warrants will be trading on the New York-based big board under the symbols “TGR” and “TGR.WS”, respectively.
UBS Investment Bank serves as the sole bookrunner for the offering.
The blank check firm is a subsidiary of Kimbell Royalty Partners (NYSE: KRP) whose chairman and CEO Robert Ravnaas will lead the SPAC as its chairman, while Zachary Lunn sits as the CEO. The firm intends to focus its search for business combination with firms in the energy and natural resources industry in North America.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
