dMY Squared Technology Group priced its initial public offering of 6 million units at $10 each — down 20% from the 7.5 million units initially registered with the SEC earlier this month.
Units begin trading today on the NYSE American under the ticker symbol DMYY.U. Each consists of one share of Class A common stock and one-half of a warrant, with whole warrants exercisable to purchase a share at $11.50.
After the units begin separate trading, shares and warrants are expected to list under the symbols DMYY and DMYY.WS. The offering is expected to close Oct. 4.
The SPAC has said it will focus on companies within the professional service industry that provide accounting, legal, financial, advisory or other services to public companies or private companies that are in the process of becoming public companies with enterprise valuations in the range of $500 million to $2 billion.
Co-CEO and Director Niccolo de Masi is also the CEO and director of dMY VI and director of Planet Labs, Rush Street Interactive, of IonQ, and of Genius Sports Limited. He is also the non-executive chairman of June UK Topco Jersey Limited, of which Jagex Limited is a wholly-owned indirect subsidiary.
Co-CEO, Chairman and Director Harry L. You is also the chairman of dMY VI and a director of Rush Street Interactive, of IonQ, of Coupang and Genius Sports Limited. You served as the executive vice president of EMC from 2008 to 2016. Read more.
