Osprey Acquisition Corp. III Begins Trading on Nasdaq After Initial Public Offering

Osprey Acquisition Corp. III recently announced the pricing of its initial public offering, securing $261 million in capital. This special purpose acquisition company (SPAC) has now listed its shares on the Nasdaq Global Market. The firm offered 26.1 million units at a price of $10.00 each. Each unit is comprised of one share of Class A common stock and one-half of one redeemable warrant. Each full warrant grants the holder the right to acquire one share of Class A common stock at an exercise price of $11.50 per share. Investing.com reports that the units began trading on the Nasdaq under the ticker symbol "OACQU" on November 2, 2023. Once the securities constituting the units begin separate trading, the Class A common stock and the redeemable warrants are anticipated to be listed on the Nasdaq under the symbols "OACQ" and "OACQW," respectively. This blank check company was specifically established for the purpose of engaging in a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. While the company has not yet identified a specific acquisition target, its structure allows for flexibility in pursuing various opportunities. Cantor Fitzgerald & Co. served as the sole book-running manager for this offering. The underwriters have also been granted a 45-day option to purchase up to an additional 3,915,000 units to cover potential over-allotments, if any. The completion of this offering is a significant step for Osprey Acquisition Corp. III as it now prepares to identify and execute a suitable business combination.