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Tech-focused SPAC Black Dragon Acquisition I files for a $250 million IPO

April 5, 2021

Black Dragon Acquisition I, a blank check company formed by Black Dragon Capital targeting e-commerce, media technology, and fintech, filed on Monday with the SEC to raise up to $250 million in an initial public offering.

The Boynton Beach, FL-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Black Dragon Acquisition I will command a market value of $313 million.

The company is led by CEO and Director Louis Hernandez, Jr., who is Founder, Managing Director, and CEO of Black Dragon Capital. He is joined by CFO and Director, Daniel Consigli, who is the CFO, CCO, and serves as a Partner at Black Dragon. Black Dragon Acquisition I intends to identify, acquire, and manage a business in the e-commerce, sports & media technology, or payments and financial technology sectors. 

Black Dragon Acquisition I was founded in 2021 and plans to list on the Nasdaq under the symbol DGONU. It filed confidentially on February 24, 2021. Cowen is the sole bookrunner on the deal.