GlobeNewswire Inc | Dec 22, 2020 12:01PM EST

December 22, 2020

NEW YORK, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Dune Acquisition Corporation (the Company) announced today the closing of its upsized initial public offering of 17,250,000 units, including 2,250,000 issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,250,000. The units are listed on the Nasdaq Capital Market (the Nasdaq) and commenced trading under the ticker symbol DUNEU on December 18, 2020. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols DUNE and DUNEW, respectively.

Dune Acquisition Corporation was founded by its Chief Executive Officer, Carter Glatt. The Company is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry or geographic region, the Company intends to focus its search for an initial business combination on companies within the technology sector, particularly companies pursuing a Software as a Service, or SaaS, model.

Cantor Fitzgerald & Co. acted as sole book-runner and Needham & Company as co-manager of the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the SEC) on December 17, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor, New, York, New York 10022 or email at prospectus@cantor.com.

Cautionary Note Concerning Forward-Looking Statements This press release contains statements that constitute forward-looking statements, including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Companys registration statement for the initial public offering filed with the SEC. Copies are available on the SECs website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact Carter Glatt Chief Executive Officer Dune Acquisition Corporation ir@duneacq.com (917) 742-1904