GTY Technology Holdings, a blank check company formed by the former CEOs of Accenture and EMC to acquire a technology business, raised the proposed deal size for its upcoming IPO on Monday.
The Las Vegas, NV-based company now plans to raise $400 million by offering 40 million units at a price of $10. The company had previously filed to offer 30 million shares the same price. At the new offering size, GTY Technology will raise 33% more in proceeds than previously anticipated.
GTY Technology Holdings was formed in 2016 and plans to list on the Nasdaq under the symbol GTYHU. Citi is the sole bookrunner on the deal. It is expected to price during the week of October 24, 2016.
