FORT WORTH, Texas, July 29, 2021 /PRNewswire/ -- On July 29, 2021, Kimbell Tiger Acquisition Corporation ("TGR" or the "Company"), a newly formed special purpose acquisition company and a subsidiary of Kimbell Royalty Partners LP ("Kimbell"), filed a Registration Statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission ("SEC") in connection with a proposed initial public offering of its units. TGR may pursue a business combination in any industry; however, TGR intends to search for a target in the energy and natural resources industry in North America.
The proposed public offering is expected to have a base offering size of $200 million (20,000,000 Units at $10.00 per Unit), or up to $230 million if the underwriters' over-allotment option is exercised in full. Under the terms of the proposed public offering, the sponsor of TGR, which is controlled by Kimbell, would own 20% of TGR's issued and outstanding common stock upon the consummation of the offering. Each unit will consist of one Class A ordinary share and 1/2 of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at an exercise price of $11.50 per share.
TGR expects to apply to list the units in the offering on the New York Stock Exchange (the "NYSE") under the ticker symbol "TGR.U" and once the securities constituting the units begin separate trading, the Class A common stock and warrants will be listed on the NYSE under the symbols "TGR" and "TGR.WS," respectively.
UBS Investment Bank is acting as sole book-running manager for the proposed offering, and Tudor, Pickering, Holt & Co. is acting as capital markets advisor in connection with the initial public offering. When available, copies of the prospectus related to the proposed initial offering by TGR may be obtained for free by visiting Edgar on the SEC's website at www.sec.gov or from UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888) 827-7275, or email: [email protected].
The Registration Statement relating to the securities of TGR has been filed but has not yet been declared effective by the SEC. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This news 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.
There can be no assurance the public filing of a registration statement on Form S-1 will result in any transaction or other action by the Company. Kimbell does not intend to comment on or provide updates regarding these matters unless and until it determines that further disclosure is appropriate or required based on the then-current facts and circumstances.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating the proposed initial public offering of TGR, as well as the terms thereof and the use of proceeds therefrom, and the listing of TGR's securities with the NYSE. These and other forward-looking statements involve risks and uncertainties, including risks relating to unanticipated developments that may prevent, delay or negatively impact the proposed offering, general market and economic conditions, the COVID-19 pandemic and other risks and uncertainties described in Kimbell's filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Except as required by law, Kimbell undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell's filings with the SEC.
Dennard Lascar Investor Relations
SOURCE Kimbell Royalty Partners, LP