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Tech SPAC Agile Growth prices $300 million IPO

March 10, 2021

Agile Growth, a blank check company led by tech CEO and investor Jay Bhatt targeting technology, raised $300 million by offering 30 million units at $10. 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, 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 plans to list on the Nasdaq under the symbol AGGRU. Citi and Jefferies acted as lead managers on the deal.