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7/24, 1:27 AM (Source: TeleTrader)
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Cvent going public again in SPAC deal

Cvent Inc. announced that it will become publicly traded once again through a merger with a special purpose acquisition company Dragoneer Growth Opportunities Corp. II.

The transaction values Cvent at an initial value of $5.3 billion and is expected to provide the tech firm with $801 million in cash. Upon closing, the new company will be called Cvent Holding Corp. and will trade on Nasdaq under the ticker CVT.

"We are excited to lock arms with Cvent and help position the business for its next phase of growth as a publicly listed company," Dragoneer founder Marc Stad said.

Breaking the News / MD