Thoma Bravo Advantage announced the closing of its IPO of 100 million Class A ordinary shares, including the issuance of 10 million shares as a result of the underwriters’ exercise of their over-allotment option. The raise generated $1 bilion for the SPAC.
Thoma Bravo will seek to partner with a “market-leading, fast-growing software franchise with high-quality and recurring revenue streams in a fragmented market, and that offers attractive organic and inorganic growth opportunities,” the company said in the initial S-1 filing in December.
The SPAC is led by Chairman Orlando Bravo, the founder and managing partner of private equity firm Thoma Bravo.
