Private equity firm Thoma Bravo raising blank-check acquisition vehicle -sources

Ark Solutions

04/12/2020 24:15

By Greg Roumeliotis
    Dec 3 (Reuters) - Private equity investor Thoma Bravo has
hired an investment bank to raise funds in an initial public
offering for a special purpose acquisition company (SPAC), one
of the first technology-focused buyout firms to join Wall
Street's SPAC craze, people familiar with the matter said on
Thursday. 
    The SPAC will target an acquisition in the software and
technology sector, the sources said, requesting anonymity as the
plans are private.
    Thoma Bravo declined to comment. 
    A SPAC is a shell company which raises funds in an initial
public offering (IPO) with the aim of acquiring a private
company, which then becomes public as result of the merger. 
    SPACs have emerged as one of Wall Street's most popular
investment vehicles in 2020, with 208 SPACs raising more than
$70 billion so far this year, according to SPAC Research.

 (Reporting by Greg Roumeliotis in New York; Additional
reporting by Joshua Franklin; Editing by Christopher Cushing)
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Messaging: joshua.franklin.thomsonreuters.com@reuters.net))