dMY Technology Group IV, the fourth blank check company formed by Niccolo de Masi and Harry You targeting an app business, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.
The company is led by CEO and Director Niccolo de Masi, CIO of Resideo Technologies (NYSE: REZI) and former CEO of Glu (Nasdaq: GLUU), and Chairman Harry You, who founded GTY (Nasdaq: GTYH) in 2016 and has served as its Vice Chairman since 2019. The SPAC plans to target companies in the consumer technology ecosystem that are either consumer-facing or support the infrastructure of consumer apps, with enterprise values between $1 billion and $3 billion
The pair's previous SPACs include February 2020 IPO dMY Technology Group, which recently completed its business combination with Rush Street Interactive (RSI; +62% from $10 offer price); August 2020 IPO dMY Technology Group II (DMYD; +45%), which is pending an acquisition of Genius Sports; and November 2020 IPO dMY Technology Group III (DMYI.U; +27%), which raised $275 million in its offering.
dMY Technology Group IV plans to list on the NYSE under the symbol DMYQ.U. Goldman Sachs acted as a lead manager on the deal.
