- Texas Ventures Acquisition III Corp has priced a $200 million IPO offering 20,000,000 units at $10.00 each.
- Trading on Nasdaq under 'TVACU' begins April 23, 2025, with future separate trading under 'TVA' and 'TVACW'.
- The company targets acquisitions in industrial technology for significant operational improvements.
Texas Ventures Acquisition III Corp has announced the pricing of its initial public offering (IPO) at $200 million, consisting of 20,000,000 units priced at $10.00 per unit. This Special Purpose Acquisition Company (SPAC) will begin trading on Nasdaq under the ticker symbol 'TVACU' on April 23, 2025.
Each unit of the IPO comprises one Class A ordinary share and one-half of one redeemable warrant. A whole warrant allows the purchase of one Class A share at $11.50. Once the units begin separate trading, the Class A shares and warrants will trade under the symbols 'TVA' and 'TVACW', respectively.
Led by CEO E. Scott Crist, the company is focused on merging with businesses in the industrial technology sector, specifically targeting companies that offer advancements in software, digital transition, logistics, cloud services, and 5G communications. The aim is to acquire firms that propose considerable value through cost reductions, improved ROI, and enhanced safety standards.
The underwriters, Cohen & Company Capital Markets as lead book-runner and Clear Street LLC as joint book-runner, hold a 45-day option to purchase up to 3,000,000 additional units, potentially raising the total proceeds to $230 million if fully exercised. The IPO is expected to close on April 24, 2025, subject to standard closing conditions.
