Teamshares (TMS) Registration filing summary

Company overview and business model

• Formed as a Cayman Islands exempted company, the entity is a blank check company targeting mergers, share exchanges, asset acquisitions, or similar business combinations with one or more businesses, with no specific target identified at the time of the IPO filing.

• The focus is on companies with significant growth prospects, strong free cash flow, and defensible market positions, typically with enterprise values between $500 million and $2 billion.

• The management team and senior advisor have extensive experience in SPACs, principal investments, and corporate advisory, leveraging broad networks for deal sourcing.

• The company may pursue a business combination in any industry or geography, with a preference for targets where management's expertise can add value.

Financial performance and metrics

• As of December 31, 2024, the company had not commenced operations and reported a net loss of $18,571 for the period from inception through year-end, with no revenues generated.

• Total assets were $67,546, primarily consisting of deferred offering costs and prepaid expenses, with a working capital deficit of $52,615.

• The company’s ability to continue as a going concern is contingent on the successful completion of the IPO.

Use of proceeds and capital allocation

• The IPO aims to raise $200 million through the sale of 20,000,000 units at $10.00 per unit, with an additional $4.5 million from private placement warrants.

• $201 million (or $231.15 million if the over-allotment is exercised) will be placed in a U.S.-based trust account, to be used for the initial business combination or returned to shareholders if no deal is completed.

• Working capital of $2.5 million is allocated for due diligence, legal, accounting, administrative, and other pre-combination expenses.