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Twin Ridge Capital Acquisition Corp. - TRCA

  • Commons

    $9.75

    +0.00%

    TRCA Vol: 401.0

  • Warrants

    $0.74

    +0.01%

    TRCA+ Vol: 600.0

  • Units

    $10.04

    +0.35%

    TRCA= Vol: 1.0K

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 207.8M
Average Volume: 21.9K
52W Range: $9.62 - $10.20
Weekly %: +0.00%
Monthly %: -0.20%
Inst Owners: 35

Info

Target: Searching
Days Since IPO: 276
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-third of one redeemable warrant
Trust Size: 20000000.0M

Management

Our officers and directors are as follows:Name​​Age​​PositionDale Morrison​​71​​Chairman of the Board of DirectorsSanjay K. Morey​​49​​Co-Chief Executive Officer, President and DirectorWilliam P. Russell, Jr. ​​48​​Co-Chief Executive Officer, Chief Financial Officer and DirectorDale F. Morrison serves as our Chairman and Chairman of our board. Mr. Morrison is a founding partner at TRCM and its predecessor, TriPointe Capital, which was formed in 2011. At TRCM, Mr. Morrison has been involved in the investments in Findus, Hale & Hearty, Harvest Food Distributors, I&K Distributors, Lipari Foods, Sherwood Food Distributors, and Young’s Seafood. Mr. Morrison has extensive experience as a consumer and distribution executive where he has been involved in implementing long-term strategies, developing management talent, driving profitable growth, executing successful turnarounds and managing multiple acquisitions. Mr. Morrison was formerly Chief Executive Officer of McCain Foods from 2004 to 2011, an international leader in the frozen food industry, employing 21,000 people and operating 52 production facilities in 14 countries on six continents. Prior to McCain Foods, Mr. Morrison served as the President and Chief Executive Officer of Campbell Soup Company from 1997 to 2000 and as the Chief Executive Officer of Pepperidge Farm (a division of Campbell Soup Company) from 1995 to 1997. Mr. Morrison began his career at General Foods and PepsiCo. Mr. Morrison was also an operating partner at Fenway Partners from 2002 to 2004. Mr. Morrison is currently the lead Director of International Flavors & Fragrances Inc. and of InterContinental Hotels Group, and is Chairman of the board of the University of North Dakota Center for Innovation. Mr. Morrison holds a B.S. degree in Business Administration from the University of North Dakota.Sanjay K. Morey serves as our Co-Chief Executive Officer and President and as a director on our board. Mr. Morey is a founding partner of TRCM and its predecessor, TriPointe Capital, which was formed in 2011. Mr. Morey has built a career in private equity and investment banking that has spanned over 25 years. At TRCM, Mr. Morey has been involved in the investments in Findus, Hale & Hearty, Harvest Food Distributors, I&K Distributors, Lipari Foods, Sherwood Food Distributors, and Young’s Seafood. Prior to joining TRCM, Mr. Morey was a senior executive at KKR & Co. (KKR) from 2006 to 2010. At KKR, Mr. Morey was involved in the investments in Toys “R” Us and U.S. Foods and served on the boards of both companies. Previously, he was involved in investments in American Achievement, Harry Winston, Wilmar, Century Maintenance Supply, Hudson RCI and The Pantry. Currently, Mr. Morey serves as Chairman of the Board of Harvest Sherwood Food Distributors. Mr. Morey also worked for Fenway Partners from 2001 to 2006 and prior to completing his M.B.A., was at Freeman Spogli from 1997 to 1999 and worked in the investment banking division of Salomon Brothers Inc. from 1994 to 1997. He holds a B.A., magna cum laude, Phi Beta Kappa, from the University of California, Los Angeles and an M.B.A. from Harvard Business School.William P. Russell, Jr. serves as our Co-Chief Executive Officer and Chief Financial Officer and as a director on our board. Mr. Russell is a partner at TRCM which he joined in 2019. Mr. Russell has over 20 years of experience in the private equity and investment banking industries. Prior to joining TRCM, Mr. Russell was a partner at Sterling Investment Partners from 2006 to 2019, where he served on the Investment Committee and on the boards of directors of All My Sons Moving and Storage, Aurora Parts & Accessories, Lipari Foods, Opinionology, Miller Heiman, Service Logic and Cambridge International. Before Sterling, Mr. Russell was in the investment banking division of Lehman Brothers from 2000 to 2006. Mr. Russell holds a B.A. from Hamilton College, an M.B.A. from Harvard Business School and was a Fulbright Scholar at the National University of Singapore.Number and Terms of Office of Officers and DirectorsOur board of directors is divided into three classes, with only one class of directors being elected in each year, and with each class (except for those directors appointed prior to our first annual meeting of shareholders) serving a three-year term. In accordance with the NYSE corporate governance requirements, we are not required to hold an annual meeting until one year after our first fiscal year end following our listing on the NYSE. The term of office of the first class of directors, consisting of      and      , will expire at our first annual 109 TABLE OF CONTENTSmeeting of shareholders. The term of office of the second class of directors, consisting of      and     , will expire at our second annual meeting of shareholders. The term of office of the third class of directors, consisting of      and     , will expire at our third annual meeting of shareholders.Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled by a nominee chosen by holders of a majority of our founder shares. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason.Pursuant to an agreement to be entered into on or prior to the closing of this offering, our sponsor, upon and following consummation of an initial business combination, will be entitled to nominate three individuals for election to our board of directors, as long as the sponsor holds any securities covered by the registration and shareholder rights agreement.Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated memorandum and articles of association as it deems appropriate. Our amended and restated memorandum and articles of association will provide that our officers may consist of one or more chairman of the board, chief executive officer, president, chief financial officer, vice presidents, secretary, treasurer and such other offices as may be determined by the board of directors.Director IndependenceThe NYSE listing standards require that a majority of our board of directors be independent. Our board of directors has determined that     ,      and      are “independent directors” as defined in the NYSE listing standards. Our independent directors will have regularly scheduled meetings at which only independent directors are present.Executive Officer and Director CompensationNone of our executive officers or directors have received any cash compensation for services rendered to us. Commencing on the date that our securities are first listed on the NYSE through the earlier of consummation of our initial business combination and our liquidation, we will reimburse our sponsor or an affiliate of our sponsor for office space, secretarial and administrative services provided to us in the amount of $10,000 per month. In addition, our sponsor, executive officers, Industry Advisors, directors or their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made by us to our sponsor, executive officers, Industry Advisors, directors or their affiliates. Any such payments prior to an initial business combination will be made using funds held outside the trust account. Other than quarterly audit committee review of such reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection with identifying and consummating an initial business combination. Other than these payments and reimbursements, no compensation of any kind, including finder’s and consulting fees, will be paid by the company to our sponsor, executive officers and directors, or their respective affiliates, prior to completion of our initial business combination.After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the proxy solicitation materials or tender offer materials furnished to our shareholders in connection with a proposed business combination. We have not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management. It is unlikely the amount of such compensation will be known at the time of the proposed business combination, because the directors of the post-combination business will be responsible for determining executive officer and director compensation. Any compensation to be paid to our executive officers will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted solely by independent directors or by a majority of the independent directors on our board of directors.110 TABLE OF CONTENTSWe do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination, although it is possible that some or all of our executive officers and directors may negotiate employment or consulting arrangements to remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our executive officers and directors that provide for benefits upon termination of employment.Committees of the Board of DirectorsUpon the effectiveness of the registration statement of which this prospectus forms a part, our board of directors will have three standing committees: an audit committee, a nominating committee and a compensation committee. Subject to phase-in rules and a limited exception, the rules of the NYSE and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors. Subject to phase-in rules and a limited exception, the rules of the NYSE require that the compensation committee and the nominating committee of a listed company be comprised solely of independent directors.Audit CommitteeUpon the effectiveness of the registration statement of which this prospectus forms a part, we will establish an audit committee of the board of directors.     ,      and      will serve on our audit committee. Our board of directors has determined that     ,      and      are independent under the NYSE listing standards and applicable SEC rules.      will serve as the Chairman of the audit committee.Under the NYSE listing standards and applicable SEC rules, all the directors on the audit committee must be independent. Each member of the audit committee is financially literate and our board of directors has determined that      qualifies as an “audit committee financial expert” as defined in applicable SEC rules.The audit committee is responsible for:•meeting with our independent registered public accounting firm regarding, among other issues, audits, and adequacy of our accounting and control systems;•monitoring the independence of the independent registered public accounting firm;•verifying the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit as required by law;•inquiring and discussing with management our compliance with applicable laws and regulations;•pre-approving all audit services and permitted non-audit services to be performed by our independent registered public accounting firm, including the fees and terms of the services to be performed;•appointing or replacing the independent registered public accounting firm;•determining the compensation and oversight of the work of the independent registered public accounting firm (including resolution of disagreements between management and the independent registered public accounting firm regarding financial reporting) for the purpose of preparing or issuing an audit report or related work;•establishing procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls or reports which raise material issues regarding our financial statements or accounting policies;•monitoring compliance on a quarterly basis with the terms of this offering and, if any noncompliance is identified, immediately taking all action necessary to rectify such noncompliance or otherwise causing compliance with the terms of this offering; and111 TABLE OF CONTENTS•reviewing and approving all payments made to our existing shareholders, executive officers or directors and their respective affiliates. Any payments made to members of our audit committee will be reviewed and approved by our board of directors, with the interested director or directors abstaining from such review and approval.Nominating CommitteeUpon the effectiveness of the registration statement of which this prospectus forms a part, we will establish a nominating committee of our board of directors. The members of our nominating committee will be     ,      and     , and      will serve as chairman of the nominating committee. Under the NYSE listing standards, we are required to have a nominating committee composed entirely of independent directors. Our board of directors has determined that     ,      and      are independent under the NYSE listing standards.The nominating committee is responsible for overseeing the selection of persons to be nominated to serve on our board of directors. The nominating committee considers persons identified by its members, management, shareholders, investment bankers and others.Guidelines for Selecting Director NomineesThe guidelines for selecting nominees, which will be specified in a charter to be adopted by us, generally will provide that persons to be nominated:•should have demonstrated notable or significant achievements in business, education or public service;•should possess the requisite intelligence, education and experience to make a significant contribution to the board of directors and bring a range of skills, diverse perspectives and backgrounds to its deliberations; and•should have the highest ethical standards, a strong sense of professionalism and intense dedication to serving the interests of the shareholders.The nominating committee will consider a number of qualifications relating to management and leadership experience, background and integrity and professionalism in evaluating a person’s candidacy for membership on the board of directors. The nominating committee may require certain skills or attributes, such as financial or accounting experience, to meet specific board needs that arise from time to time and will also consider the overall experience and makeup of its members to obtain a broad and diverse mix of board members. The nominating committee does not distinguish among nominees recommended by shareholders and other persons.Compensation CommitteeUpon the effectiveness of the registration statement of which this prospectus forms a part, we will establish a compensation committee of our board of directors. The members of our compensation committee will be     ,      and     , and      will serve as chairman of the compensation committee.Under the NYSE listing standards, we are required to have a compensation committee composed entirely of independent directors. Our board of directors has determined that     ,      and      are independent under the NYSE listing standards.We will adopt a compensation committee charter, which will detail the principal functions of the compensation committee, including:•reviewing and approving on an annual basis the corporate goals and objectives relevant to our executive officers performance in light of such goals and objectives and determining and approving the remuneration (if any) of each of our executive officers based on such evaluation;•reviewing and approving the compensation of all of our other Section 16 executive officers;•reviewing our executive compensation policies and plans;•implementing and administering our incentive compensation equity-based remuneration plans;112 TABLE OF CONTENTS•assisting management in complying with our proxy statement and annual report disclosure requirements;•approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our executive officers and employees;•producing a report on executive compensation to be included in our annual proxy statement; and•reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors.The charter will also provide that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required by the NYSE and the SEC.Compensation Committee Interlocks and Insider ParticipationNone of our executive officers currently serves, and in the past year has not served, as a member of the compensation committee of any entity that has one or more executive officers serving on our board of directors.Code of EthicsUpon the effectiveness of the registration statement of which this prospectus forms a part, we will have adopted a Code of Ethics applicable to our directors, officers and employees. A copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K.Conflicts of InterestUnder Cayman Islands law, directors and officers owe the following fiduciary duties:•duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole;•duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose;•directors should not improperly fetter the exercise of future discretion;•duty to exercise powers fairly as between different sections of shareholders;•duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and•duty to exercise independent judgment.In addition to the above, directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and e

Holder Stats

1 0
% of Shares Held by All Insider 0.00%
% of Shares Held by Institutions 50.75%
% of Float Held by Institutions 50.75%
Number of Institutions Holding Shares 35

Mutual Fund Holders

Holder Shares Date Reported Value % Out
Franklin K2 Alternative Strategies Fd 7511 2021-05-30 74291 0.04
Franklin K2 Long Short Credit Fd 2202 2021-05-30 21779 0.01

Institutional Holders

Reporting Date Hedge Fund Shares Held Market Value % of Portfolio Quarterly Change in Shares Ownership in Company
2021-11-15 Hudson Bay Capital Management LP 850,507 $8,250,000 0.1% -2.6% 3.193%

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q 10-Q 2021-11-15 https://www.sec.gov/Archives/edgar/data/1840353/000114036121037881/brhc10030537_10q.htm
8-K 8-K 2021-11-15 https://www.sec.gov/Archives/edgar/data/1840353/000114036121037879/brhc10030839_8k.htm
10-Q 10-Q 2021-08-16 https://www.sec.gov/Archives/edgar/data/1840353/000114036121028322/brhc10027470_10q.htm
10-Q 10-Q 2021-05-28 https://www.sec.gov/Archives/edgar/data/1840353/000114036121019238/brhc10024861_10q.htm
8-K 8-K 2021-05-28 https://www.sec.gov/Archives/edgar/data/1840353/000114036121019236/brhc10025224_8k.htm
NT 10-Q NT 10-Q 2021-05-18 https://www.sec.gov/Archives/edgar/data/1840353/000156761921010607/brhc10024788_nt10q.htm
8-K 8-K 2021-04-23 https://www.sec.gov/Archives/edgar/data/1840353/000114036121014132/brhc10023553_8k.htm
4 FORM 4 2021-04-21 https://www.sec.gov/Archives/edgar/data/1840353/000114036121013731/xslF345X03/form4.xml
4 FORM 4 2021-04-21 https://www.sec.gov/Archives/edgar/data/1840353/000114036121013729/xslF345X03/form4.xml
4 FORM 4 2021-04-21 https://www.sec.gov/Archives/edgar/data/1840353/000114036121013724/xslF345X03/form4.xml
4 FORM 4 2021-04-21 https://www.sec.gov/Archives/edgar/data/1840353/000114036121013720/xslF345X03/form4.xml
SC 13G 2021-03-15 https://www.sec.gov/Archives/edgar/data/1840353/000149315221005979/formsc13g.htm
8-K FORM 8-K 2021-03-12 https://www.sec.gov/Archives/edgar/data/1840353/000114036121008304/nc10021710x1_8k.htm
SC 13G 2021-03-10 https://www.sec.gov/Archives/edgar/data/1840353/000131924421000156/TRCA_SC13G.htm
8-K FORM 8-K 2021-03-09 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007750/nt10019162x9_8k.htm
424B4 424B4 2021-03-05 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007350/nt10019162x4_424b4.htm
EFFECT 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/999999999521000804/xslEFFECTX01/primary_doc.xml
3 FORM 3 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007259/xslF345X02/form3.xml
3 FORM 3 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007257/xslF345X02/form3.xml
3 FORM 3 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007254/xslF345X02/form3.xml
3 FORM 3 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007252/xslF345X02/form3.xml
3 FORM 3 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007250/xslF345X02/form3.xml
3 FORM 3 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007248/xslF345X02/form3.xml
3 FORM 3 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007246/xslF345X02/form3.xml
CERT NYSE CERTIFICATION 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000087666121000289/TRCA030321.pdf
8-A12B FORM 8A12B 2021-03-03 https://www.sec.gov/Archives/edgar/data/1840353/000114036121007114/nt10019162x8_8a12b.htm
CORRESP 2021-03-02 https://www.sec.gov/Archives/edgar/data/1840353/000114036121006960/filename1.htm
CORRESP 2021-03-02 https://www.sec.gov/Archives/edgar/data/1840353/000114036121006958/filename1.htm
CORRESP 2021-03-02 https://www.sec.gov/Archives/edgar/data/1840353/000114036121006866/filename1.htm
UPLOAD 2021-03-02 https://www.sec.gov/Archives/edgar/data/1840353/000000000021002460/filename1.pdf
S-1/A FORM S-1/A 2021-02-26 https://www.sec.gov/Archives/edgar/data/1840353/000114036121006303/nt10019162x3_s1a.htm
S-1/A S-1/A 2021-02-23 https://www.sec.gov/Archives/edgar/data/1840353/000114036121005784/nt10019162x2_s1a.htm
S-1 S-1 2021-01-22 https://www.sec.gov/Archives/edgar/data/1840353/000114036121001943/nt10019162x1_s1.htm