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SPAC Dragoneer Growth Opportunities III prices $400 million IPO

March 23, 2021
DGNU

Dragoneer Growth Opportunities III, the third blank check company formed by Dragoneer Investment Group, raised $400 million by offering 40 million shares at $10. The company did not offer units with warrants attached. It may raise an additional $50 million at the closing of an acquisition pursuant to a forward purchase agreement with Dragoneer.

The company is led by Chairman Marc Stad, the founder, CEO, CIO, and Managing Partner of Dragoneer Investment Group, and CEO Christian Jensen, a Partner at Dragoneer. The company plans to target the software, internet, media, consumer/retail, healthcare IT, and financial services/fintech sectors.

Dragoneer Growth Opportunities III plans to list on the Nasdaq under the symbol DGNU. Citi, Goldman Sachs and J.P. Morgan acted as lead managers on the deal.