JWCA acts as placement agent on Nogin and Software Acquisition Group III’s $60 million private convertible financing
April 2022 | read press release
Transaction Background
Software Acquisition Group Inc. III, a special purpose acquisition company, (“SWAG III” or the “SPAC”) successfully raised $60mm in a private convertible financing, with a $10mm accordion feature, to support it’s planned merger with Nogin, Inc. (“Nogin” or the “company” and provide capital to accelerate Nogin’s growth
SWAG III’s objectives included:
Raising additional capital in a volatile SPAC market
Strengthening and diversifying its balance sheet
Partnering with a syndicate of investors for long-term growth
The company engaged J. Wood Capital Advisors, LLC (“JWCA”) to assist in the structuring, negotiation, documentation, and execution of this transaction
JWCA provided analysis to the SPAC and Nogin on deal structuring and related items, including:
Convertible structuring
Precedent private convertible investment terms and conditions
Investor targeting
Documentation
JWCA provided advice, support, and analysis throughout the execution process
JWCA acted as placement agent, and led the marketing, pricing negotiations, and allocation of the security
Results
SWAG III was able to raise $60mm in committed capital, with a $10mm accordion feature, from several long-term strategic investors
The investment will provide the SPAC with additional capital to complete it’s planned merger with Nogin and fund future growth opportunities at the company