dMY Technology Group II, the second blank check company formed by Niccolo de Masi and Harry You targeting an app business, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Director Niccolo de Masi, the Chief Innovation Officer of Resideo Technologies (NYSE: REZI) and former CEO of Glu (Nasdaq: GLUU), and Chairman Harry You, founder and Vice Chairman of GTY Technology (Nasdaq: GTYH). The company plans to target consumer technology businesses with enterprise values between $1 billion and $3 billion, with a focus on mobile apps with significant growth in segments including gaming, entertainment, education, work productivity, e-commerce, dating, financial technology, and health and wellness.
The pair's previous SPAC dMY Technology Group (DMYT) went public in February 2020 and recently announced a merger agreement with online casino company Rush Street Interactive.
dMY Technology Group II plans to list on the NYSE under the symbol DMYD.U. Goldman Sachs acted as a lead manager on the deal.
