Israeli mobile adtech firm ironSource went public on the New York Stock Exchange on Tuesday after closing its merger with a blank-check company backed by U.S. private equity firm Thoma Bravo.

The public debut comes three months after the announcement of the merger with Thoma Bravo Advantage, a special purpose acquisition company (SPAC), and marks the listing of one of the most valuable private Israeli tech companies on U.S. exchanges.

The deal provides $2.15 billion in cash proceeds to ironSource, including private investment in public equity (PIPE) worth $1.3 billion. The company expects to deploy capital for acquisitions to expand its platform for app developers.

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Source: WTVB

By Krystal Hu