ironSource has successfully completed its business combination with Thoma Bravo Advantage, enabling trading under the ticker symbol IS on the NYSE from June 29, 2021. The transaction provided $2.15 billion in cash proceeds, including $1.3 billion from an oversubscribed PIPE, resulting in approximately $660 million available for growth after expenses. CEO Tomer Bar Zeev will continue to lead the company, aiming to strengthen its position in the $40 billion App Economy.
Thoma Bravo Advantage (NYSE:TBA) urges its shareholders to vote in favor of its proposed business combination with ironSource Ltd., a prominent app economy platform, during the Extraordinary General Meeting set for June 22, 2021, at 10:00 am ET. Shareholders as of May 24, 2021, are encouraged to complete and return their proxy cards promptly. The merger aims to enhance ironSource's market position, which will be listed under the symbol 'IS' on the NYSE post-transaction. This move signals a strategic consolidation in the tech sector to capitalize on the growing app economy.