Agile Growth, a blank check company targeting technology, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering.
The Newton, MA-based company plans to raise $300 million by offering 30 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Agile Growth will command a market value of $375 million.
The company is led by CEO, CFO, and Director Jay Bhatt, who previously served as CEO of Alfresco Software and as a Managing Director and Partner at Thomas H. Lee Partners. Bhatt also served as CEO of both Blackboard and Progress Software (Nasdaq: PRGS) prior to joining Thomas H. Lee. Agile Growth intends to capitalize on the ability of its management team to identify, acquire, and operate a business in the technology industry, including pure software and software-enabled businesses such as infrastructure and application software, healthcare IT, fintech, robotics/automation, and education technology, as well as potential additional software and technology segments.
Agile Growth was founded in 2021 and plans to list on the Nasdaq. It has not yet chosen a ticker symbol (RC ticker: AGRU.RC). Citi and Jefferies are the joint bookrunners on the deal.
