The company may raise an aggregate of $175 million at the closing of the acquisition to forward purchase agreements with Dragoneer Investment Group and Willett Advisors.
Citigroup Global Markets Inc., Goldman Sachs & Co., LLC, and J.P. Morgan Securities LLC acted as book-running managers in the new offering. DGO granted the underwriters a 45-day option to purchase up to 9,000,000 additional units at the IPO price to cover if there are any over-allotments.
In a statement the company said, “We intend to pursue opportunities with private, high-quality growth companies. We will use our experience in sourcing transactions and portfolio companies due to diligence to seek to identify and negotiate a combination with an exceptional business.”
The SPAC will focus broadly on technology including software, media, internet, consumer/retail, financial services/fintech, and healthcare IT.
They added, “Our expectation is that our ultimate target will be in one of those sectors, although we may consummate a transaction with a business in a different industry.”
