IPO for SPAC Tuatara Capital Acquisition (TCAC) Opens at $10.61

February 12, 2021 12:36 PM EST

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Today's IPO for SPAC Tuatara Capital Acquisition (NASDAQ: TCAC) (NASDAQ: TCACU) opened for trading at $10.61 after priding 17,500,000 units at $10.00 per unit.

The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search for businesses in the cannabis industry that are compliant with all applicable laws and regulations. The management team includes Albert Foreman, the Company’s Chief Executive Officer and director, who is the co-founder, Managing Partner, and Chief Investment Officer of Tuatara Capital, L.P., a leading cannabis sector-focused private equity firm, and who guides the firm’s investment strategy in the cannabis sector; Mark Zittman, the Company’s Chief Operating Officer and director, who co-founded Tuatara Capital, L.P. and currently acts as a senior advisor; and Sergey Sherman, the Company’s Chief Financial Officer, who is a Managing Director at Tuatara Capital, L.P. and is responsible for all aspects of the investment process. The Company’s independent directors include Richard Taney, former co-founder and Chief Executive Officer of Curaleaf; Jeff Bornstein, former Vice Chairman and Chief Financial Officer of General Electric; and Aris Kekedjian, former head of Corporate Development and Chief Investment Officer of General Electric.

J.P. Morgan and BMO Capital Markets are acting as the joint book-running managers of the offering.

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