Thiel-Backed Blank-Check Co. Leads 2 IPOs Raising $635M

Law360 (October 16, 2020, 4:45 PM EDT) -- A company co-created by PayPal founder Peter Thiel's investment firm led a pair of blank-check companies that debuted on the stock market Friday, raising $635 million through initial public offerings that they intend to use to target potential acquisitions in industries including technology and biotech.

Hong Kong-based Bridgetown Holdings Ltd. led the pack and said it would look to acquire a Southeast Asian business in the technology, financial services or media industries. Cambridge, Massachusetts-headquartered Turmeric Acquisition Corp. said it would consider biotechnology companies.

Bridgetown, working with Ellenoff Grossman & Schole LLP and Maples and Calder, raised $550 million after its 55...

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