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TWLV

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Twelve Seas Investment Co Ii

10.56
0.00 (0.00%)
Last Update: 21 Jun 2024 16:30:00
Yesterday: 10.56
Day's Range: 10.56 - 10.56
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When Written:
 
10.225
Twelve Seas Investment Co II is a special purpose acquisition company (SPAC) that was formed in 2019 with the aim of acquiring a company or businesses in the technology, media, and telecommunications (TMT) industries. The company was founded by CEO and Chairman Selim A. Bassoul, who is also the former CEO of The Middleby Corporation, a leading manufacturer of commercial kitchen equipment.

Twelve Seas Investment Co II raised $172.5 million in its initial public offering (IPO) in October 2019, and its shares are traded on the NASDAQ stock exchange under the ticker symbol "TWLVU". The company has a two-year window to identify and acquire a target company, after which it must return any unspent funds to its investors.

As a SPAC, Twelve Seas Investment Co II is essentially a shell company that is created solely for the purpose of acquiring another company. Once it identifies a target company, it will use the funds it has raised to purchase a controlling stake in that company, effectively taking it public without going through the traditional IPO process. This can be an attractive option for companies looking to go public quickly and with less regulatory oversight.

Note: This message is generated by artificial intelligence; it does not guarantee the accuracy of the information it contains and should not be considered as investment advice.
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