dMY Technology Group,IV priced its IPO of 30 million units at $10 each. The SPAC offered 5 million more units than anticipated.
Units begin trading today on the NYSE under DMYQ.U. A unit consists of one share of Class A common stock and one-fifth of one redeemable warrant, exercisable at $11.50. After the securities comprising the units begin separate trading, shares and warrants are expected to list under DMYQ and DMYQ WS, respectively.
The offering is expected to close March 9.
Management’s dmy II is in a pending merger with GeniusSports, and dmy III is rumored to be in negotiations with quantum-computing company IonQ.
The new SPAC intends to concentrate on companies within the broader consumer technology ecosystem that are either consumer-facing or support the infrastructure of consumer applications with enterprise valuations of $1 billion to $3 billion. Read more.
