The Leadership Team: The SPAC is led by Non-Executive Chairman and Director Karl Peterson, who is the founding President and CEO of Hotwire.com. Hotwire is now a unit of Expedia Group (NASDAQ: EXPE) after a $665 million acquisition by IAC/InteraActiveCorp (NASDAQ: IAC). Peterson is the Chairman of Sabre Corporation (NASDAQ: SABR) and Accel Entertainment (NYSE: ACEL).
President Greg Mrva has 25 years of experience in financial operations, including serving as the CFO of StubHub. Mrva has advised numerous companies on their IPOs including Alibaba Group (NYSE: BABA), GoDaddy Inc (NYSE: GDDY), and Snap Inc (NYSE: SNAP).
TPG has brought numerous SPACS to market that have since acquired companies. This includes Accel Entertainment, Magnolia Oil & Gas Corporation (NYSE: MGY), and Playa Hotels and Resorts (NASDAQ: PLYA).
The Offering: TPG Pace Tech Opportunities is offering 45 million shares at a price point of $10. Each share will also come with one fifth of a warrant to buy shares at $11.50.
TPG Pace Tech Opportunities: TPG Pace Tech believes there is a significant backlog of technology companies that want to go public. The company plans to use their experience in the sector to help a potential company through capital and hands-on operating to help install systems.
TPG Pace listed several items as criteria for being selected. This list includes being at an inflection point, having a unique product or service with a large market, underperforming potential, underexploited expansion, and offering an attractive risk-adjusted equity return opportunity.
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