New software-focused SPAC Thoma Bravo Advantage offered 90 million units at $10 each to raise $900 million in an IPO.
Thoma Bravo will seek to partner with a “market-leading, fast-growing software franchise with high-quality and recurring revenue streams in a fragmented market, and that offers attractive organic and inorganic growth opportunities,” the company said in the initial S-1 filing last month.
The SPAC is led by Chairman Orlando Bravo, the founder and managing partner of private equity firm Thoma Bravo. He led the firm’s early entry into software buyouts, and has overseen over 270 software acquisitions, representing more than $79 billion in transaction value. Forbes named him “Wall Street’s best dealmaker” in 2019.
The SPAC’s units begin trding today on the NYSE under TBA. The offer is expected to close Jan. 20. Read more.
