Cvent Completes SPAC Deal, Lists on Nasdaq
Meetings management technology provider Cvent Holding Corp. completed its merger with special purpose acquisition company Dragoneer Growth Opportunities Corp. II on Wednesday. It began trading as a public company today on the Nasdaq exchange.
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Meetings management technology provider Cvent Holding Corp. completed its merger with special purpose acquisition company Dragoneer Growth Opportunities Corp. II on Wednesday, and began trading as a public company today on the Nasdaq exchange, the company announced. The stock opened at $10.05 per share.
Cvent announced plans for the merger in July, with an anticipated $5.3 billion valuation and about $800 million in cash. CEO Reggie Aggarwal spoke with BTN in late November about the deal and future plans for the company. Cvent's third quarter results showed 13 percent year-over-year growth, with Aggarwal saying it was the first quarter of growth since being affected by the pandemic in 2020.
The company, founded by Aggarwal in 1999, has about 4,000 global employees and had been public once before, prior to it being purchased by Vista Equity Partners in 2016 for $1.65 billion. As of July, Vista said it would roll all its Cvent holdings into the new entity, as would Cvent management.
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