Tims China (TH International) Completes Business Combination with Silver Crest Acquisition Corporation
September 28, 2022
TH International Limited, the operator of Tim Hortons coffee shops in China ("Tims China"), completed its business combination with special purpose acquisition company Silver Crest Acquisition Corporation and began trading on Nasdaq under the ticker THCH. The transaction provides Tims China with nearly $200 million of financing (including ~ $94.5M PIPE and a committed equity facility from CF Principal Investments LLC) to support growth as it operates over 460 stores and ~4,500 employees and targets 2,750 stores by 2026.
- Buyers
- Silver Crest Acquisition Corporation
- Targets
- TH International Limited (Tims China)
- Industry
- Restaurants & Hospitality
- Location
- Shanghai, China
- Transaction Type
- Buyout
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