Dragoneer Growth Opportunities II filed a prospectus on Form S-4 outlining its meger deal with Cvent, a meetings, events, and hospitality technology provider. The transaction values Cvent at an initial enterprise value of $5.3 billion.
If approved, upon closing the combined company will operate as Cvent Holding and is expected to trade on the Nasdaq under CVT.
Vista Equity Partners and the Cvent management team will roll the entirety of their existing equity into the combined company.
In addition to the approximately $276 million held in Dragoneer’s trust account (assuming no redemptions) and a $50 million forward purchase agreement commitment from Dragoneer funds, a group of leading investors has committed to participate in a $475 million PIPE. Investors in the PIPE include Fidelity Management & Research, Hedosophia, Oaktree Capital Management, and Zoom Video Communications. Read more.