Roman DBDR Tech Acquisition II, a blank check company targeting the TMT industries, lowered the proposed deal size for its upcoming IPO on Wednesday.
The Las Vegas, NV-based company now plans to raise $215 million by offering 21.5 million units at a price of $10. The company had previously filed to offer 25 million units at the same price. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Each unit previously contained one-third of a warrant. At the revised deal size, Roman DBDR Tech Acquisition II will raise -14% less in proceeds than previously anticipated.
The company is led by Co-CEO and Chairman Donald Basile, an executive officer at Monsoon Blockchain and former CEO of Violin Memory and FusionIO, and Co-CEO Dixon Doll, the CEO of DBM Cloud Systems and Managing Director of Longstreet Ventures. The company plans to target businesses in the technology, media, and telecom (TMT) industries with enterprise values between $500 million and $1.5 billion.
Management's previous SPAC, Roman DBDR Tech Acquisition, merged with custom card manufacturer CompoSecure (CMPO; -31% from $10 offer price) in December 2021.
Roman DBDR Tech Acquisition II was founded in 2021 and plans to list on the Nasdaq under the symbol RDTXU. B. Riley Securities is the sole bookrunner on the deal.
