Thoma Bravo Advantage, a blank check company formed by Thoma Bravo targeting a software business, filed on Monday with the SEC to raise up to $900 million in an initial public offering.
The Chicago, IL-based company plans to raise $900 million by offering 90 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, Thoma Bravo Advantage would command a market value of $1.1 billion.
The company is led by Chairman Orlando Bravo, who is a co-founder and Managing Partner of Thoma Bravo; CEO Robert Sayle, a Partner at Thoma Bravo; and CFO Amy Coleman Redenbaugh, who is currently CFO and a managing director of Thoma Bravo. The SPAC plans to target and work with an existing management team to operate a market-leading, fast-growing software franchise.
Thoma Bravo Advantage was founded in 2020 and plans to list on the NYSE under the symbol TBA.U. The company filed confidentially on November 23, 2020. Citi, Deutsche Bank, and Goldman Sachs are the joint bookrunners on the deal.
