On September 11, 2020, TWC Tech Holdings II raised $600 million in an initial public offering by issuing 60 million units at an offering price of $10.00 per unit. Each of the 60 million units has an offering price of $10.00 and consists of one share of Class A common stock and one-third of one Redeemable Warrant. Loop Capital Markets served as a co-manager on the deal.
TWC Tech Holdings II intends to deposit all the net proceeds from this offering into a trust account. The proceeds will not be released until the earliest to occur of: the completion of an initial business combination, the redemption of the public shares issued in this offering if unable to complete an initial business combination within the completion window, and the redemption of any public shares properly submitted in connection with a stockholder vote to amend the amended and restated certificate of incorporation to modify the substance and timing of the obligation to redeem 100% of the public shares if TWC Tech Holdings II does not complete an initial business combination within the completion window.