Dragoneer Growth Opportunities set a July 29 date for shareholderrs to vote on the SPAC’s proposed merger with CCC Intelligent Solutions, a SaaS platform for the property and casualty insurance economy. The SEC has declared effective Dragoneer’s S-4 registration statement, the SPAC added.
The transaction includes a $150 million fully committed common stock PIPE anchored by Fidelity Investments, T. Rowe Price and other SaaS investors, in addition to a $175 million forward purchase agreement from Dragoneer funds and Michael Bloomberg’s family office, Willett Advisors.
If approved, CCC’s common stock and warrants are expected to list on the NYSE under CCCS and CCCH. As part of the timing arrangements, CCC and Dragoneer have agreed to extend the outside date under the business combination agreement by an additional three business days. Read more.