Dragoneer Growth Opportunities Corp. III Announces Pricing of $400,000,000 Initial Public Offering
March 22 2021 - 10:17PM
Business Wire
Dragoneer Growth Opportunities Corp. III (the “Company”)
announced today the pricing of its initial public offering of
40,000,000 Class A ordinary shares at a price to the public of
$10.00 per share. The shares are expected to begin trading on the
Nasdaq Capital Market in the United States under the ticker symbol
“DGNU”. The initial public offering is expected to close on March
25, 2021, subject to customary closing conditions.
The Company has also entered into a forward purchase agreement
for the purchase of up to 5,000,000 forward purchase shares with
funds affiliated with Dragoneer Growth Opportunities Holdings III.
Any such purchase will take place in a private placement to close
substantially concurrently with the closing of the Company’s
initial business combination.
The Company is led by Marc Stad, Pat Robertson and Christian
Jensen, and is a newly organized blank check company formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar transaction with one or
more businesses or entities.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and
J.P. Morgan Securities LLC are acting as book-running managers in
the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 6,000,000 shares at the
initial public offering price to cover over-allotments, if any.
The initial public offering is being made only by means of a
prospectus. When available, copies of the prospectus relating to
the offering may be obtained for free from the U.S. Securities and
Exchange Commission website http://www.sec.gov; Citigroup Global
Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146;
Goldman Sachs & Co. LLC, Prospectus Department, 200 West
Street, New York, NY 10282, Telephone: (866) 471-2526; or J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Telephone: 866-803-9204,
Email: prospectuseq_fi@jpmchase.com.
A registration statement relating to the securities sold in the
initial public offering has been declared effective by the U.S.
Securities and Exchange Commission on March 22, 2021.
This press release shall not constitute an offer to sale 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 securities to be sold in the private placement have not been
registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements of such
Act and applicable state securities laws.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering and the anticipated use of the net proceeds
thereof. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net 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 and preliminary prospectus for the Company’s 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.
About the Company
The Company is a newly organized blank check company formed by
an affiliate of Dragoneer Investment Group, LLC (“Dragoneer”).
Dragoneer is a San Francisco-based, growth-oriented investment firm
with over $14 billion in long-duration capital from many of the
world’s leading endowments, foundations, sovereign wealth funds,
and family offices. The firm has a history of partnering with
management teams growing exceptional companies characterized by
sustainable differentiation and superior economic models. The
firm’s track record includes public and private investments across
industries and geographies, with a particular focus on
technology-enabled businesses.
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Meghan Gavigan / Nate Johnson Sard Verbinnen & Co (415)
618-8750
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