TPG Pace Beneficial Finance Corp. announced that it expects to receive $225 million in funding from BlackRock, Inc., Inclusive Capital Partners, L.P., Neuberger Berman Group LLC, Wellington Management Group LLP, and other investors

TPG Pace Beneficial Finance Corp. (NYSE:TPGY) entered into subscription agreement to issue 22,500,000 Class A shares at the price of $10 per share for gross proceeds of $225,000,000 on December 10, 2020. The transaction will include participation from institutional investors Including funds and accounts managed by BlackRock, Inc. (NYSE:BLK), Inclusive Capital Partners, L.P., Neuberger Berman Group LLC, Wellington Management Group LLP, and other institutional investors.

The par value of the share is $0.0001 per share. The agreements provide that liquidated damages will be payable monthly by Edison Holdco B.V. during the time of a registration default in the amount of 0.5% of the purchase price subject to a cap of 5.0%. The transaction is expected to close on the date of, and immediately prior to, the consummation of the business combination with Edison Holdco B.V which is expected to close on late first quarter of 2021.