SPAC Roman DBDR Tech Acquisition II (RDTXU), which plans to seek out business combinations in the US media, technology and telecommunications sectors, has downsized its proposed initial public offering to $215M from $250M.
The SPAC said in a filing that it now plans to offer 21.5M units for $10 per unit, which would raise $215M. Each unit will consist of one share plus one-half of one warrant to buy one share for $11.50.
Underwriters will be granted a 45-day option to buy up to 3.2M more units to cover overallotments. B. Rily Securities is serving as lead bookrunner.
Roman DBDR II intends to focus on business combinations with companies carrying an enterprise value of $500M to $1.5B. The SPAC originally filed in October 2021 to sell 25M units for $10 per unit, which would have raised $250M.
Roman DBDR II is headed by Co-Chief Executive Officers Donald Basile and Dixon Doll Jr., both on whom held the same posts at blank-check company Roman DBDR I, which consummated a combination with CompoSecure Holdings in December 2021.
Basile and Doll also serve as Co-CEOs of Roman DBDR III, which is seeking a combination in the international media, technology and telecom sectors.
Prior to their work with the SPACs, Basile served as CEO and Doll as chief operating officer of Violin Memory.