Thayer Ventures Acquisition Corporation Announces Closing Of $172.5 Million IPO

VALENCIA, CA– Thayer Ventures Acquisition Corporation (the “Company” or “TVAC”), a special purpose acquisition company, today announced the closing of its initial public offering of 17,250,000 units, including 2,250,000 units issued to the underwriters upon full exercise of their over-allotment option, at a price of $10.00 per unit. The units began trading on The Nasdaq Capital Market (“Nasdaq”) on December 11, 2020 under the ticker symbol “TVACU”.

Each unit issued in the offering consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units commence separate trading, the shares of Class A common stock and redeemable warrants are expected to be respectively listed on Nasdaq under the symbols “TVAC” and “TVACW”. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

Stifel, Nicolaus & Company, Incorporated and Oppenheimer & Co. Inc. acted as joint book-running managers for the offering.