dMY Technology Group, Inc. II Announces Closing of Underwriters’ Over-Allotment Option in Connection with its Initial Publi...
August 18 2020 - 6:03PM
Business Wire
dMY Technology Group, Inc. II (the "Company") announced today
the closing of the issuance of an additional 3,600,00 units
pursuant to the full exercise of the underwriters’ over-allotment
option in connection with the Company’s initial public offering.
The additional units were sold at the initial offering price of
$10.00 per unit, generating additional gross proceeds of
$36,000,000 to the Company and bringing the total gross proceeds of
the initial public offering to $276,000,000. The units are listed
on The New York Stock Exchange (the "NYSE") and began trading under
the ticker symbol "DMYD.U" on August 14, 2020. Each unit consists
of one share of Class A common stock and one-third of one
redeemable warrant, with each whole warrant exercisable to purchase
one share of Class A common stock at a price of $11.50 per share.
After the securities comprising the units begin separate trading,
the shares of Class A common stock and warrants are expected to be
listed on the NYSE under the symbols "DMYD" and "DMYD WS,"
respectively.
dMY Technology Group, Inc. II is a blank check company whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. While the Company
may pursue an initial business combination target in any industry
or geographic region, the Company intends to focus its search for
an initial business combination on companies within the broader
consumer technology ecosystem that are either consumer-facing or
support the infrastructure of consumer applications (“apps”) with
enterprise valuations in an approximate valuation range of $1.0
billion to $3.0 billion, though the Company’s search may span
consumer software segments worldwide and may pursue a target
outside its expected range. The Company intends to specifically
focus on companies that have created, or enabled the creation of,
compelling mobile app experiences with significant growth in
segments such as gaming, entertainment, education, work
productivity, e-commerce, dating, financial technology, and health
and wellness. Companies developing disruptive and key enablement
technologies for consumer-facing apps in these segments, such as
artificial intelligence (“AI”), machine learning (“ML”), cloud
infrastructures and quantum computing are also within the scope of
this search.
Goldman Sachs & Co., LLC is acting as the sole bookrunner
for the offering and Needham & Co., LLC is acting as co-manager
of the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on August 13, 2020. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus relating to this offering may
be obtained from Goldman Sachs & Co., LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282,
telephone: +1 866 471 2526, facsimile: +1 212 902 9316, or email:
prospectus-ny@ny.email.gs.com; and Needham & Co., LLC,
Attention: Syndicate Prospectus Department, 250 Park Avenue, 10th
Floor, New York, New York 10177, or by calling 800-903-3268, or by
email at prospectus@needhamco.com.
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and search for an initial business combination. No
assurance can be given that the offering discussed above will be
completed on the terms described, or at all, or that the proceeds
of the offering will be used as indicated. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company's registration statement for
the initial public offering filed with the SEC. Copies are
available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200818005791/en/
Investor Contact: Harry You dMY Technology Group, Inc. II
harry@dmytechnology.com (702) 781-4313 Media Relations: ICR
dmy2@icrinc.com
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