TS Innovation Acquisitions Corp. Closes $300 Million Initial Public Offering

NEW YORK, Nov. 16, 2020 /PRNewswire/ -- TS Innovation Acquisitions Corp. (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 it has closed its initial public offering of 30,000,000 units at $10.00 per unit on November 13, 2020. Each unit consists of one share of common stock and one-third of one redeemable warrant.

The Company's units are listed and trade on the Nasdaq Capital Market under the symbol "TSIAU". BofA Securities and Allen & Company LLC acted as joint book-running managers for the offering.

The sponsor of the Company is TS Innovation Acquisitions Sponsor, 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 27 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.

Tishman Speyer has consistently driven innovation throughout its global portfolio, with more than 1,200 employees worldwide, assets under management of $48 billion, and 78 million square feet under management across 105 assets as of June 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.

"We believe we are well positioned to identify diverse targets and capitalize on rising demand for new tech," said the Company's Chief Executive Officer and Chairman, Robert J. Speyer, who also serves as the President and Chief Executive Officer of Tishman Speyer. "Our integrated real estate platform and breadth of expertise make us a great fit, especially for companies looking for a strategic partner to help guide growth and add lasting value."

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 TS Innovation Acquisitions Corp.

TS Innovation Acquisitions Corp., 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 TS Innovation Acquisitions Corp. is TS Innovation Acquisitions Sponsor, L.L.C., an affiliate of Tishman Speyer, a leading owner, developer, operator and investment manager of first-class real estate in 27 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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