Dragoneer Growth Opportunities II scheduled a Dec. 7 meeting for shareholders to vote on the proposed merger with Cvent, a meetings, events, and hospitality technology provider.
Dragoneer also said its registration statement on Form S-4 has been declared effective by the SEC.
The transaction values Cvent at an initial enterprise value of $5.3 billion.
If approved, upon closing Cvent would 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 with Dragoneer funds, the deal is further supported by a $475 million PIPE. Investors in the PIPE include Fidelity Management & Research, Hedosophia, Oaktree Capital Management, and Zoom Video Communications. Read more.
