WASHINGTON, March 22, 2021 /PRNewswire/ -- Supernova
Partners Acquisition Company III, Ltd. ("Supernova III") announced
today the pricing of its initial public offering of 25,000,000
units at a price of $10.00 per
unit.
Supernova III is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses. Supernova III will look to partner with a
technology company focused on internet, consumer, media and similar
businesses.
Supernova III is led by the team that founded its predecessors,
Supernova Partners Acquisition Company, Inc. and Supernova Partners
Acquisition Company II, Ltd., consisting of Spencer Rascoff, a serial entrepreneur who
co-founded Hotwire and Zillow and who led Zillow as CEO for nearly
a decade; Alexander Klabin, founder
and CEO of Ancient Management LP, and co-founder of Senator
Investment Group; Robert Reid, an
investor who worked for 21 years at Blackstone in its Private
Equity Group; and Michael Clifton,
an investor who was most recently a senior investment professional
at The Carlyle Group.
The units will be listed on the New York Stock Exchange (the
"NYSE") and will trade under the ticker symbol "STRE.U" beginning
on March 23, 2021. Each unit
consists of one Class A ordinary share of Supernova III and
one-fifth of one redeemable warrant, each whole warrant entitling
the holder thereof to purchase one Class A ordinary share at an
exercise price of $11.50 per share.
After the securities comprising the units begin separate trading,
the Class A ordinary shares and warrants are expected to be listed
on the NYSE under the symbols "STRE" and "STRE WS," respectively.
No fractional warrants will be issued upon separation of the units
and only whole warrants will trade.
J.P. Morgan Securities LLC and Jefferies LLC are acting as book
runners for the offering. Supernova III has granted the
underwriters a 45-day option to purchase up to an additional
3,750,000 units at the initial public offering price to cover
over-allotments, if any.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained, when available, from:
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 866-803-9204
Email: prospectuseq_fi@jpmchase.com
or
Jefferies LLC
Attention: Equity Syndicate Prospectus Department
520 Madison Avenue, 2nd Floor
New York, NY 10022
Telephone: 1-877-821-7388
Email: Prospectus_Department@Jefferies.com
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission ("SEC") and
became effective on March 22,
2021. 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 an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with respect to Supernova
III's initial public offering. No assurance can be given that the
offering will be completed on the terms described, or at all.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of Supernova III, including those
set forth in the Risk Factors section of Supernova III's
preliminary prospectus for the offering filed with the SEC. Copies
are available on the SEC's website, www.sec.gov. Supernova III
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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SOURCE Supernova Partners Acquisition Company III, Ltd.