TMT SPAC Roman DBDR Tech Acquisition prices $220 million IPO at $10

Roman DBDR Tech Acquisition, a blank check company targeting the TMT industries, raised $220 million by offering 22 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.The company originally planned to offer 27.5 million units before decreasing the deal size earlier this week.

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.

Roman DBDR Tech Acquisition plans to list on the Nasdaq under the symbol DBDRU. B. Riley FBR acted as a lead manager on the deal.