TCGX Acquisition Corp. II has successfully completed its initial public offering, raising $100 million in gross proceeds. The company sold 10,000,000 Class A ordinary shares at a price of $10.00 per share. The shares began trading on The Nasdaq Capital Market under the ticker symbol "TCXB" on October 16, 2026.
Guggenheim Securities, LLC served as the sole book-running manager for the transaction. Unlike certain other special purpose acquisition company (SPAC) offerings, this IPO did not include the issuance of warrants to investors.
In conjunction with the IPO, the company entered into several agreements, including an Underwriting Agreement, a Letter Agreement with its sponsor and officers, and a Registration Rights Agreement. A total of $100,000,000 was placed in a U.S.-based trust account at Citibank, N.A., maintained by Odyssey Transfer and Trust Company as trustee. The funds will remain in the trust until the earliest of the company's initial business combination, a redemption of shares if the combination is not completed within 24 months, or a shareholder vote to amend the charter.
Simultaneously with the IPO closing, the company completed a private placement of 450,000 Class A ordinary shares at $10.00 per share for an aggregate purchase price of $4,500,000. All of these shares were purchased by TCGX Sponsor II, LLC, the company's sponsor.
The board of directors was also reconstituted on October 15, 2026. Joshua Cohen, Mark McKenna, and Dr. Michael Henderson were appointed as independent directors, with Dr. Henderson chairing the Audit Committee and Mr. McKenna chairing the Compensation Committee. The company intends to focus its search for a target on the healthcare and healthcare-related industries, particularly life sciences and medical technology.
