Angel Pond Holdings Corporation (POND) Closes MariaDB Deal

Angel Pond Holdings (NYSE:POND) announced this morning that it has closed its combination with MariaDB and its shares and warrants will begin trading on the NYSE today under the symbols “MRDB” and “MRDB WS”.

The press release notes that the SPAC’s shareholders approved the deal at a vote in November 22, but the company did not immediately announce the results of the meeting. In a subsequent 8-K on December 11, Angel Pond revealed that 99% of its shares were redeemed, removing about $262.9 million from its trust.

This left just 258,925 public shares shares remaining with the company, but deal was also supplemented with a $104 million PIPE made up of Series D preferred shares and an $18.2 million PIPE at $9.50 per share. This more than cleared the transaction’s $100 minimum cash condition.

Angel Pond inked its $672 million combination with MariaDB on February 1. Redwood City, California-based MariaDB provides an software platform for enterprise business and cloud management with about 1 billion downloads to date.

It expects to generate $47 million in revenue in 2022E for an operating loss of -$43.2 million.

ADVISORS

• Cleary Gottlieb Steen & Hamilton LLP, Hannes Snellman Attorneys Ltd, Arthur Cox and Maples Group are serving as legal advisors to Angel Pond.
• Perkins Coie LLP, Fondia, Matheson and Conyers are serving as legal advisors to MariaDB.
• J.P. Morgan Securities LLC and Angel Pond Capital LLC served as placement agents to Maria DB and Angel Pond in connection with the Series D Financing and PIPE offerings.
• J.P. Morgan Securities LLC is acting as capital markets advisors to Angel Pond.