Dune Acquisition Corporation announced the pricing of its upsized $150 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “DUNEU” tomorrow, Friday, December 18.
The new company aims to combine with a software-as-a-service (SaaS) business valued at $300 million to $1 billion that has acquired customers profitably. Dune is led by CEO and Director Carter Glatt alongside Chief Financial Officer and Director Michael Castaldy.
Total SPAC deal count for 2020 year-to-date is now 238 with $80.1 billion in gross proceeds raised. This offering is expected to close on Tuesday, December 22.
Cantor Fitzgerald & Co. is acting as sole book-runner and Needham & Company as co-manager of the offering. White & Case LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.