NEW YORK, Feb. 17, 2021 /PRNewswire/ -- Tishman Speyer
Innovation Corp. II (the "Company"), a blank check company whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses, announced that on
February 17, 2021 it closed its
upsized initial public offering of 30,000,000 units at $10.00 per unit, for aggregate gross proceeds of
$300 million. Each unit consists of
one share of common stock and one-fifth of one redeemable
warrant.
The Company's units are listed and trade on the Nasdaq Capital
Market under the symbol "TSIBU". BofA Securities and Allen &
Company LLC acted as joint book-running managers for the
offering.
The sponsor of the Company is Tishman Speyer Innovation Sponsor
II, L.L.C., an affiliate of Tishman Speyer Properties, L.P.
("Tishman Speyer"), a leading owner,
developer, operator and investment manager of first-class real
estate in 28 key markets across the
United States, Europe,
Asia and Latin America.
While the Company may pursue acquisition opportunities in any
industry or geographic region, it intends to focus on combining
with a transformative, technology-driven business, which is
tailored to the real estate sector and can benefit from
Tishman Speyer's leading brand,
operational expertise and its global network of properties,
relationships, vendors and customers, including real estate
adjacent businesses and technologies targeting the real estate
space, referred to as "Proptech" businesses. The Company will
primarily target later-stage businesses in the Proptech sector that
possess strong management teams, exhibit significant future growth
potential, and have demonstrated the ability to disrupt the real
estate market through technology-driven transformation.
In September 2020, an affiliate of
Tishman Speyer founded TS Innovation
Acquisitions Corp., a blank check company formed for substantially
similar purposes as the Company. TS Innovation Acquisitions
Corp. completed its initial public offering in November 2020, generating aggregate gross
proceeds of $300 million, and
announced its initial business combination with Latch, Inc. at a
post-money valuation of $1.56 billion
on January 25, 2021. Each of the
Company's executive officers also serves as an executive officer
and director of TS Innovation Acquisitions Corp.
Tishman Speyer has consistently
driven innovation throughout its global portfolio, with more than
1,200 employees worldwide, assets under management of $56.8 billion, and 82.7 million square feet under
management across 121 assets as of September
30, 2020. Its portfolio includes iconic projects such as
Rockefeller Center in New York
City, The Springs in
Shanghai, TaunusTurm in
Frankfurt, Lumière in Paris, Torre
Norte in São Paulo and the Mission Rock neighborhood
currently being realized in San
Francisco. Since its inception, Tishman Speyer has built a successful, 40-year
track record of real estate investing, both via hundreds of
individual investments and through its value-add, opportunistic and
core funds. Over the past three years, Tishman Speyer has invested in 11 tech-centric
real estate platforms, acting as both a strategic partner and an
important source of growth capital for a range of growing Proptech
firms.
The initial public offering was made only by means of a
prospectus. A copy of the prospectus may be obtained from BofA
Securities, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, Attn:
Prospectus Department, or email: dg.prospectus_requests@bofa.com;
or Allen & Company LLC, 711 5th Avenue, New York, NY 10022, Attn: Prospectus
Department, telephone: (212) 339-2220, or email:
allenprospectus@allenco.com.
A registration statement relating to the securities was filed
with, and declared effective by, the Securities and Exchange
Commission ("SEC"). This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
This press release contains statements that constitute
"forward-looking statements." Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the "Risk
Factors" section of the Company's registration statement filed with
the SEC and the preliminary prospectus included therein. Copies of
these documents are available on the SEC's website, www.sec.gov.
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
About Tishman Speyer Innovation Corp. II
Tishman Speyer Innovation Corp. II, a Delaware corporation, is a blank check company
whose business purpose is to effect a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
sponsor of Tishman Speyer Innovation Corp. II is Tishman Speyer
Innovation Sponsor II, L.L.C., an affiliate of Tishman Speyer, a leading owner, developer,
operator and investment manager of first-class real estate in 28
key markets across the United
States, Europe,
Asia and Latin America. With global vision,
on-the-ground expertise and a personalized approach, Tishman Speyer is able to foster innovation,
quickly adapt to global and local trends and proactively anticipate
its customers' evolving needs. By focusing on health and
wellness, enlightened placemaking and customer-focused initiatives
such as its tenant amenities platform, ZO., and its flexible space
and co-working brand, Studio, Tishman
Speyer tends not just to its physical buildings, but to the
people who inhabit them on a daily basis.
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SOURCE Tishman Speyer Innovation Corp. II