Thimble Point Acquisition Corp. (THMA) Prices 24M Unit Upsized IPO at $10/Unit

February 2, 2021 5:47 AM EST

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Thimble Point Acquisition Corp. (NASDAQ: THMA) announced the pricing today of its upsized initial public offering of 24,000,000 units at a price of $10.00 per unit. The units will be listed on the NASDAQ Capital Market (NASDAQ) and will trade under the ticker symbol “THMAU” beginning on February 2, 2021. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NASDAQ under the symbols “THMA” and “THMAW,” respectively. The offering is expected to close on February 4, 2021, subject to customary closing conditions.

Thimble Point Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The Company intends to focus on high-growth software and technology-enabled companies that are disrupting large and established industries and markets, and is led by Elon S. Boms, the Company’s Chief Executive Officer and Chairman, and Steven "Woody" Benson, the Company’s Chief Operating Officer and Director. The members of the Company’s management team are associated with the Pritzker Vlock Family Office, a multi-billion-dollar family office that invests in companies and their management teams with industry changing ideas, as well as LaunchCapital, a premier venture capital firm with offices in Boston, New Haven and New York.

In connection with the initial public offering, the Company has entered into a forward purchase agreement with KLP SPAC 1 LLC, an affiliate of the Pritzker Vlock Family Office, that will provide for the purchase of 5,000,000 forward purchase units, consisting of one share of Class A common stock and one-third of one warrant to purchase one share of Class A common stock, for $10.00 per Unit, or an aggregate purchase price of $50,000,000, in a private placement that will close concurrently with the closing of the Company’s initial business combination.

Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are acting as joint bookrunners of the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,600,000 units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 1, 2021.



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