Dragoneer SPAC raises $240m for IPO

Dragoneer Growth Opportunities Corp II, a blank check company formed by Dragoneer Investment Group LLC, has raised $240 million for its IPO after pricing its 24 million shares at $10 per share.

Dragoneer Growth Opportunities Corp II, a blank check company formed by Dragoneer Investment Group LLC, has raised $240 million for its IPO after pricing its 24 million shares at $10 per share. The stock is trading on the NASDAQ under the ticker symbol “DGNS.” Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley are the underwriters.

PRESS RELEASE

SAN FRANCISCO–(BUSINESS WIRE)–Dragoneer Growth Opportunities Corp. II (the “Company”) announced today the pricing of its initial public offering of 24,000,000 Class A ordinary shares at a price to the public of $10.00 per share. The shares are expected to begin trading on the Nasdaq Capital Market in the United States under the ticker symbol “DGNS”. The initial public offering is expected to close on November 19, 2020, subject to customary closing conditions.

The Company has also entered into a forward purchase agreement for the purchase of up to 5,000,000 forward purchase shares with funds affiliated with Dragoneer Growth Opportunities Holdings II. Any such purchase will take place in a private placement to close substantially concurrently with the closing of the Company’s initial business combination.

The Company is led by Marc Stad and Pat Robertson, and is a newly organized blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar transaction with one or more businesses or entities.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are acting as book-running managers in the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,600,000 shares at the initial public offering price to cover over-allotments, if any.

The initial public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website http://www.sec.gov; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146; Credit Suisse Securities (USA) LLC, by mail: Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by phone: 1-800-221-1037, by email: usa.prospectus@credit-suisse.com; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014, email: prospectus@morganstanley.com.

A registration statement relating to the securities sold in the initial public offering has been declared effective by the U.S. Securities and Exchange Commission on November 16, 2020.
This press release shall not constitute an offer to sale or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act and applicable state securities laws.

The Company is a newly organized blank check company formed by an affiliate of Dragoneer Investment Group, LLC (“Dragoneer”). Dragoneer is a San Francisco-based, growth-oriented investment firm with over $11 billion in long-duration capital from many of the world’s leading endowments, foundations, sovereign wealth funds, and family offices. The firm has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm’s track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses.