GSR III Acquisition Corp. Prices $200 Million IPO
Deal News | Nov 07, 2024 | EIN
GSR III Acquisition Corp. has announced the pricing of its $200 million initial public offering (IPO), which marks the company's debut on the NASDAQ Global Market under the ticker symbol 'GSRTU'. The offering consists of 20 million units priced at $10 each, and is scheduled to close on November 8, 2024, subject to standard closing conditions. Each unit includes one Class A ordinary share and one-seventh of a right which will entitle the holder to receive one Class A Ordinary Share upon the completion of a business combination. SPAC Advisory Partners LLC, a division of Kingswood Capital Partners LLC, is the sole underwriter, while B. Riley Securities has stepped in as a Qualified Independent Underwriter. The registration for the IPO was filed on Form S-1 with the Securities and Exchange Commission and has been effective since its approval date. GSR III is looking to target companies with strong growth narratives and public-market appeal for potential business combinations. The management includes co-CEOs Gus Garcia and Lewis Silberman, President & CFO Anantha Ramamurti, and CBDO Yuya Orime. Forward-looking statements in the release indicate potential risks and uncertainties involved in the transaction.
Sectors
- Financial Services
- Special Purpose Acquisition Companies (SPACs)
Geography
- United States – The IPO takes place in New York, and the registered address for Kingswood Capital Partners LLC, an underwriter, is located in New York, NY.
- Cayman Islands – GSR III Acquisition Corp. is incorporated in the Cayman Islands, which is common for SPACs seeking advantageous regulatory and tax environments.
Industry
- Financial Services – The industry involves investment activities, financial advisory, underwriting, and capital markets. The article deals with the IPO of a SPAC entity, which is an investment vehicle designed to merge with other businesses.
- Special Purpose Acquisition Companies (SPACs) – SPACs are a sector within financial services that specializes in raising capital through IPOs to acquire existing firms. GSR III Acquisition Corp. is a SPAC conducting its IPO, intending to merge with target companies.
Financials
- $200,000,000 – The total proceeds from the initial public offering of GSR III Acquisition Corp., consisting of 20,000,000 units priced at $10.00 each.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GSR III Acquisition Corp. | Target company | Company | A blank check company formed for executing a merger, capital acquisition, or business combination. It's conducting a $200 million IPO. |
| SPAC Advisory Partners LLC | Underwriter | Company | A division of Kingswood Capital Partners LLC responsible for underwriting the IPO of GSR III Acquisition Corp. |
| B. Riley Securities | Qualified Independent Underwriter | Company | Acts as a Qualified Independent Underwriter for the IPO, ensuring regulatory compliance and independent pricing evaluation. |
| Kingswood Capital Partners LLC | Parent of SPAC Advisory Partners LLC | Company | Owns SPAC Advisory Partners LLC and assists in syndication and distribution of IPO-related offerings. |
| Gus Garcia | Co-CEO | Person | One of the co-CEOs of GSR III Acquisition Corp., involved in executive management and strategic decisions. |
| Lewis Silberman | Co-CEO | Person | Co-CEO of GSR III Acquisition Corp., shares leadership responsibilities with Gus Garcia. |
| Anantha Ramamurti | President & CFO | Person | Responsible for financial strategy and operations at GSR III Acquisition Corp. |
| Yuya Orime | CBDO | Person | Chief Business Development Officer handling business growth and development opportunities. |