TdMY Technology Group, the sixth blank check company formed by Niccolo de Masi and Harry You targeting mobile apps, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Las Vegas, NV-based company plans to raise $250 million by offering 25 million units at $10 per unit. Each unit contains one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $313 million.
The company is led by CEO and Director Niccolo de Masi, the former CIO of Resideo Technologies (NYSE: REZI) and CEO of Glu (Nasdaq: GLUU); Co-Chairman Harry You, the founder and Vice Chairman of GTY (Nasdaq: GTYH); and Non-Executive Co-Chairman Gabrielle Toledano, the COO of Keystone Strategy. TdMY Technology Group plans to target company's with operations in the mobile application ecosystem or other consumer internet spaces with enterprise value between $500 million and $1.5 billion.
de Masi and You's previous SPACs include AdMY Technology Group (ADMY.U), which filed to raise $250 million in March 2021; March 2021 IPO dMY Technology Group IV (DMYQ.U; +2% from offering price), which raised $300 million in its offering; and November 2020 IPO dMY Technology Group III (DMYI; +3%), which has a pending merger agreement with quantum computing startup IonQ.
The company was founded in 2021 and plans to list on the NYSE under the symbol TDMY.U. Goldman Sachs is the sole bookrunner on the deal.
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