Dragoneer Growth Opportunities, a blank check company formed by Dragoneer Investment Group, raised $600 million by offering 60 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. The company may raise an aggregate $175 million at the closing of an acquisition pursuant to forward purchase agreements with Dragoneer Investment Group and Willett Advisors.
The company is led by CEO and Chairman Marc Stad, the founder, CEO, and CIO of Dragoneer Investment Group; and COO and President Pat Robinson, who serves as COO and President of 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.
Dragoneer Growth Opportunities plans to list on the NYSE under the symbol DGNR.U. Citi, Goldman Sachs and J.P. Morgan acted as lead managers on the deal.
