Mobile app SPAC dMY Technology Group VI lowers deal size by 30% ahead of $175 million IPO

dMY Technology Group VI, the sixth blank check company formed by Niccolo de Masi and Harry You targeting mobile apps, lowered the proposed deal size for its upcoming IPO on Monday.

The Las Vegas, NV-based company now plans to raise $175 million by offering 17.5 million units at $10. The company had previously filed to offer 25 million units at the same price. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Each unit previously contained one-fifth of a warrant. At the revised deal size, dMY Technology Group VI will raise -30% less in proceeds than previously anticipated.

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), and Chairman Harry You, the founder and Vice Chairman of GTY (Nasdaq: GTYH). dMY Technology Group VI plans to target companies within the mobile app ecosystem or gaming, enterprise cloud, and consumer internet companies with enterprise values between $1 billion and $3 billion.

dMY Technology Group VI was founded in 2021 and plans to list on the NYSE under the symbol DMYS.U. Goldman Sachs is the sole bookrunner on the deal.