Thunder Bridge V Targets $261 Million in Nasdaq IPO

The company intends to sell 26.1 million units at $10 apiece. Each unit bundles one Class A ordinary share with one-fifth of a redeemable public warrant, allowing holders to purchase shares at $11.50 each. Cantor Fitzgerald is steering the offering and holds a 45-day option to purchase an additional 3.92 million units to satisfy potential over-allotments.

Beyond the public offering, the sponsor, TBCP V, and Cantor have committed to buying 747,000 private placement units at $10 each. This move brings the expected gross proceeds to roughly $268.5 million, with the potential to climb to $307.6 million if the underwriter exercises its full over-allotment option. Proceeds are earmarked for a trust account, with portions set aside for professional fees and regulatory expenses. Once trading commences under the ticker TBCVU, the firm expects to eventually split its securities into Class A shares and warrants under the symbols TBCV and TBCVW.