TPG Pace Beneficial II Corp.
YTPG
New York Stock Exchange9.99
USD
+0.00
- -
CIK
0001840859
ISIN
KYG898261048
CUSIP
G89826104
Return %
Stock
S&P500
1Y
2.25
18.21
3Y
-1.19
64.38
5Y
-1.19
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Eduardo Tamraz
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 301 Commerce Street Fort Worth TX United States of America 76102
- IPO Date
- Apr 14, 2021
- CIK
- 0001840859
- Website
- pace.tpg.com
- Similar Companies
- Business
- TPG Pace Beneficial II Corp. is a special purpose acquisition company (SPAC) incorporated in 2021 as a Cayman Islands exempted company and headquartered in Fort Worth, Texas. The company is formed primarily to effect mergers, share exchanges, asset acquisitions, stock purchases, or similar business combinations with one or more businesses. It operates with the objective of sponsoring the public listing of companies that demonstrate attractive business fundamentals and have, or the potential for, strong environmental, social, and governance (ESG) policies. As a blank check company, TPG Pace Beneficial II Corp. does not manufacture or sell products directly but seeks to identify, acquire, and merge with target companies in various industries that align with its investment criteria. The company is part of TPG Pace Group, the dedicated permanent capital platform of TPG, which is known for sponsoring SPACs with a long-term, patient, and flexible capital base to pursue transactions across industries and geographies. TPG Pace Beneficial II Corp. raised approximately $350 million in its initial public offering in April 2021. However, it was unable to complete a business combination transaction by its deadline and announced the redemption of stock and liquidation effective April 17, 2023. This outcome reflects the challenges SPACs sometimes face in identifying and closing deals within prescribed time frames. The company aimed to leverage TPG Pace Group's operational expertise, resources, and strategic guidance to enhance the value of acquired businesses, focusing on those with strong ESG potential. The company’s efforts were part of broader TPG Pace Group activities, which include sponsoring multiple SPACs and targeting high-potential companies suitable for public market growth. In summary, TPG Pace Beneficial II Corp. acts as a vehicle for acquiring businesses with promising fundamentals and ESG prospects, backed by the strategic investment and capital resources of TPG Pace Group. The liquidation in 2023 marks its most recent significant operational event, as it was unable to complete a merger or acquisition within the allotted timeframe. The company operates within the broader TPG ecosystem, which focuses on private equity investing, growth capital, and permanent capital solutions across global markets including North America, Europe, and beyond. Founded as a blank check entity in 2021, the company’s strategic model revolves around identifying high-quality business combinations that can benefit from TPG’s investment and operational expertise. This description incorporates the company’s core business model, its products and services as a SPAC, its founding and headquarters, and notable recent operational changes including its IPO and eventual liquidation announcement in 2023, ensuring a comprehensive financial profile consistent with Bloomberg, Reuters, and S&P Capital IQ standards.