Disciplined Growth Acquisition Corporation completed its SPAC initial public offering of 15,000,000 units at $10.00 per unit, raising gross proceeds of $150,000,000. Each unit includes one Class A ordinary share and one right to receive one-fourth of a Class A share after a future business combination.
The company deposited $10.05 per unit into a trust account, resulting in $150,750,000 held in trust from the IPO and simultaneous private placement. It also sold 345,000 private placement units at $10.00 per unit, issued 675,000 Class A shares to the underwriter’s designee, and confirmed 4,650,000 founder shares that will convert into Class A shares upon a business combination.
New independent directors and committee members were appointed, indemnification agreements were executed, and an amended and restated memorandum and articles of association became effective in connection with the listing of DGAC’s securities on the New York Stock Exchange.