Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON
EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our equity securities trade
on the Nasdaq Global Market. Each of our units consists of one ordinary share and one right and, commencing on December 4, 2024, trades
on the Nasdaq Global Market under the symbol “TAVIU.” The ordinary shares and rights underlying our units are trading separately
on the Nasdaq Global Market under the symbols “TAVI” and “TAVIR,” respectively.
Holders of Record
On March 21, 2025, there
was four holders of record of our units, six holders of record of our ordinary shares, and one holder of record of our rights. Such numbers
do not include beneficial owners holding our securities through nominee names.
Dividends
We have not paid any cash
dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination.
The payment of any dividends
subsequent to a business combination will be within the discretion of our board of directors at such time and we will only pay such dividend
out of our profits or share premium (subject to solvency requirements) as permitted under Cayman Islands Law. It is the present intention
of our board of directors to retain all earnings, if any, for use in our business operations and, accordingly, our board of directors
does not anticipate declaring any dividends in the foreseeable future. In addition, our board of directors is not currently contemplating
and does not anticipate declaring any share dividends in the foreseeable future. Further, the ability to pay such dividends in kind at
the combined company’s option may result in dilution to existing shareholders. If we incur any indebtedness in connection with our
initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.
Use of Proceeds from our Initial Public Offering
On December 5, 2024, we consummated
our Initial Public Offering of 10,000,000 units at $10.00 per unit, each unit consisting of one ordinary share and one right entitling
the holder thereof to receive one-tenth of one ordinary share upon the completion of our initial business combination, generating gross
proceeds of $100,000,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of 350,000 private placement
units at a price of $10.00 per unit in a private placement to the Sponsor and EBC, generating gross proceeds of $3,500,000. Following
the closings of the Initial Public Offering and the private placement on December 5, 2024, an aggregate amount of $100,500,000 ($10.05
per unit) from the net proceeds of the sale of the public units, and a portion of the net proceeds from the sale of the private placement
units, was placed in the Trust Account and held in demand deposit or cash accounts or invested only in U.S. government securities, within
the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or in any open-ended investment
company that holds itself out as a money market fund investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7
of the Investment Company Act, as determined by the Company, until the earlier of (i) the completion of a business combination and (ii)
the distribution of the funds in the Trust Account to the Company’s shareholders. On December 9, 2024, the underwriters notified
the Company of their exercise of the over-allotment option in full and purchased 1,500,000 additional units at $10.00 per unit upon the
closing of the over-allotment option, generating gross proceeds of $15,000,000. Simultaneously with the closing of the over-allotment
option on December 11, 2024, we consummated the private placement of an aggregate of 37,500 private placement units to the Sponsor and
EBC at a price of $10.00 per unit, generating gross proceeds of $375,000. After giving effect to the exercise of the over-allotment option,
an aggregate of 11,500,000 Units have been issued in the Initial Public Offering at an aggregate offering price of $115,000,000, and an
aggregate amount of $115,575,000 ($10.05 per unit) from the net proceeds of the sale of the public units, and a portion of the net proceeds
from the sale of the private placement units, was placed in the Trust Account . Transaction
costs amounted to $3,605,995, consisting of $2,300,000 of cash underwriting fee and $1,305,995 of other offering costs.
For a description of the
use of the proceeds generated in our Initial Public Offering, see Part II, Item 7 of this Annual Report.
ITEM 6. [RESERVED]
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