AdMY Technology Group in a filing yesterday withdrew its planned offering of 25 million units, initially registered with the SEC in March.
AdMY in the original filing said it would target companies within the broader communications and cloud infrastructure ecosystem, leveraging 5G wireless communications as well as distributed edge and cloud computing, and with enterprise valuations in an approximate valuation range of $1 billion to $3 billion.
The company was formed by Chairman Niccolo de Masi, who is also the CEO and director of dMY III and dMY IV, co-chairman of AdMY, and director of Rush Street Interactive and of Genius Sports Limited. His SPAC dMY Technology Group II closed a merger in April with Genius Sports. Shareholders of dMY III in September approved a merger with quantum computing company IonQ. Read more.
