On March 4, 2021, NightDragon Acquisition Corp. announced the closing of its initial public offering of 34,500,000 SCALE (Stakeholder-Centered Aligned Listed Equity) units, including 4,500,000 SCALE units pursuant to the full exercise of the underwriters’ over-allotment option. Each SCALE unit consists of one share of the company’s Class A common stock and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. The SCALE units were sold at an offering price of $10.00 per SCALE unit, generating gross proceeds of $345,000,000. The SCALE units began trading on Nasdaq on March 2, 2021, under the symbol “NDACU,” and when the securities comprising the SCALE units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “NDAC” and “NDACW,” respectively. Wilson Sonsini Goodrich & Rosati advised NightDragon Acquisition Corp. on the initial public offering.
NightDragon Acquisition Corp. was formed for the purpose of effecting a merger, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While it may pursue an acquisition opportunity in any business, industry, sector, or geographical location, the company intends to focus its search on the cybersecurity, safety, security, and privacy sector.
Morgan Stanley & Co. LLC acted as lead book-running manager and Drexel Hamilton acted as co-manager in the offering.
The Wilson Sonsini team that advised NightDragon Acquisition Corp. included the following:
Corporate
Jeff Saper
Robert Day
Bryan King
James Babikian
Jeff Buckelew
Securities Regulatory/Complex Transactions
Rob Rosenblum
Delaware Law
Ryan Greecher
Adrian Broderick
Brian Currie
For more information, please see NightDragon Acquisition Corp.’s press release announcing the pricing of the offering.