Dragoneer Growth Opportunities Corp. III (Nasdaq: DGNU) announced its inability to complete an initial business combination within the designated timeframe, leading to plans for dissolution and liquidation. The company will redeem all outstanding Class A ordinary shares at an estimated price of $10.00 per share as of March 24, 2023. This includes liquidating the trust account, where funds will be held in a non-interest bearing account until disbursed to shareholders. Nasdaq will also file a Form 25 to delist the company's securities and a Form 15 to terminate the registration under the Exchange Act.
Summary not available.
Dragoneer Growth Opportunities Corp. III has priced its initial public offering (IPO) of 40,000,000 Class A ordinary shares at $10.00 each. Trading is set to commence on the Nasdaq under the ticker symbol DGNU on March 25, 2021, pending customary closing conditions. The company has also entered into a forward purchase agreement for 5,000,000 shares with affiliates. Citigroup, Goldman Sachs, and J.P. Morgan are the book-running managers for the offering, which includes a 45-day option for underwriters to purchase an additional 6,000,000 shares.