Fri, Dec 04, 2020 – 8:49 AM
[BENGALURU] Personal fairness investor Thoma Bravo has employed an funding financial institution to boost funds in an preliminary public providing for a particular goal acquisition firm (SPAC), one of many first technology-focused buyout companies to affix Wall Avenue’s SPAC craze, individuals aware of the matter stated on Thursday.
The SPAC will goal an acquisition within the software program and expertise sector, the sources stated, requesting anonymity because the plans are non-public.
Thoma Bravo declined to remark.
A SPAC is a shell firm which raises funds in an preliminary public providing (IPO) with the goal of buying a non-public firm, which then turns into public as results of the merger.
SPACs have emerged as considered one of Wall Avenue’s hottest funding autos in 2020, with 208 SPACs elevating greater than US$70 billion up to now this 12 months, in line with SPAC Analysis.