Dragoneer Growth Opportunities said its shareholders voted in favor of the proposed merger with CCC Intelligent Solutions, a SaaS platform for the property and casualty insurance economy.
The SPAC said 21,009,998 shares were redeemed for $210.1 million. Dragoneer raised $690 million in an August 2020 IPO.
At the time it was announced in February, the parties valued the deal at $968 million. The transaction includes a $150 million 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.
CCC’s common stock and warrants are expected to list Aug. 2 on the NYSE under CCCS and CCCH. Read more.
