dMY Squared Technology Group, Inc. priced its downsized $60 million IPO and its units are expected to begin trading on the NYSE under the symbol “DMYY.U” Friday, September 30, 2022.
The new SPAC intends to focus its efforts 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. The Company intends to specifically focus on companies that have strong, consistent revenue growth and cash flow. dMY Squared Technology Group is led by Co-CEO Niccolo de Masi, and Co-CEO, Chairman Harry L. You.
Total SPAC deal count for 2022 year-to-date is now 78. This offering is expected to close on Tuesday, October 4.
Needham & Company is acting as the sole book running manager for the offering. Cleary Gottlieb Steen & Hamilton LLP is serving as Issuer’s Counsel with DLA Piper LLP (US) serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
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