Dragoneer Growth Opportunities, a blank check company formed by Dragoneer Investment Group, filed on Friday with the SEC to raise up to $600 million in an initial public offering.
The San Francisco, CA-based company plans to raise $600 million by offering 60 million units at a price of $10. Each unit consists of one share and one-third of a warrant; exercisable at $11.50. At the proposed deal size, Dragoneer Growth Opportunities would command a market value of $750 million.
The company is led by CEO and Chairman Marc Stad, the founder and CEO/CIO of Dragoneer Investment Group, as well as COO and President Pat Robinson, who serves in the same roles at Dragoneer Investment Group. The SPAC will focus on targeting a business in the software, internet, media, consumer/retail, healthcare IT and financial services/fintech sectors.
The primary shareholder is Dragoneer Investment Group with a 20% post-IPO stake.
The San Francisco, CA-based company was founded in 2020 and booked plans to list on the NYSE under the symbol DGNR.U. Dragoneer Growth Opportunities filed confidentially on July 17, 2020. Citi, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.
