Dune Acquisition Corporation Announces Closing of Upsized $172.5 Million Initial Public Offering
Dune Acquisition Corporation announced the closing of its initial public offering, upsizing to 17,250,000 units, including 2,250,000 from the underwriters' over-allotment option. Priced at $10.00 per unit, the offering generated gross proceeds of $172,250,000, with units trading on Nasdaq under the ticker symbol 'DUNEU' since December 18, 2020. Each unit includes one share of Class A common stock and a warrant. The firm targets technology-focused mergers, especially in the Software as a Service sector.
- Successful closing of IPO raises $172.25 million.
- Targeting technology sector, particularly SaaS, offers potential for high growth.
- None.
NEW YORK, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Dune Acquisition Corporation (the “Company”) announced today the closing of its upsized initial public offering of 17,250,000 units, including 2,250,000 issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at
Dune Acquisition Corporation was founded by its Chief Executive Officer, Carter Glatt. The Company is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry or geographic region, the Company intends to focus its search for an initial business combination on companies within the technology sector, particularly companies pursuing a Software as a Service, or SaaS, model.
Cantor Fitzgerald & Co. acted as sole book-runner and Needham & Company as co-manager of the offering.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 17, 2020. This press release shall not constitute an offer to sell 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 offering was made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor, New, York, New York 10022 or email at prospectus@cantor.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Carter Glatt
Chief Executive Officer
Dune Acquisition Corporation
ir@duneacq.com
(917) 742-1904
FAQ
What is the total amount raised in the Dune Acquisition Corporation IPO?
What are the ticker symbols for Dune Acquisition Corporation's securities?
What is the focus of Dune Acquisition Corporation in terms of business combinations?
Who were the underwriters for the Dune Acquisition IPO?
