Consumer Goods SPAC Conyers Park III Acquisition Seeks To Raise US$350 Million In IPO

Special purpose acquisition company Conyers Park III Acquisition Corp. (Nasdaq: CPAAU) went public on Nasdaq Capital Market today. The firm is looking to raise US$350.0 million through its initial public offering.

The offering consists of 35.0 million units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-third of a purchase warrant. Each whole warrant is redeemable for one common share at US$11.50 per share.

The company units trade on the Nasdaq big board under the symbol “CPAAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “CPAA” and “CPAAW”, respectively.

The proposed offering is being managed by Deutsche Bank Securities Inc., Goldman Sachs & Co., and J.P. Morgan Securities as underwriters, which the company granted a 45-day over-allotment option to purchase additional 5.25 million company units.

The offering is expected to close on August 12, 2021, subject to customary closing conditions.

The company relayed its intention to transact with firms in the consumer sector.

This is the third blank-check company formed by Conyers Park. The first formed The Simply Good Foods Company (Nasdaq: SMPL) after a reverse merger with Atkins Nutritionals in 2017 while the second became Advantage Solutions (Nasdaq: ADV) through a reverse merger transaction that valued the enterprise at US$5.2 billion.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Copper Juniors Could Explode After This Trade War Move | Christian Easterday – Hot Chili

Silver Is Rarer Than Gold, And the Market’s Waking Up | Shawn Khunkhun – Dolly Varden Silver

Gold Will Hit North of $4,000: Who’s Actually Producing? | Shane Williams – West Red Lake

Recommended

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Related News

Fintech Firm Blend Labs Seeks US$360 Million In IPO

Blend Labs Inc. announced this morning the launch of its initial public offering on the...

Tuesday, July 6, 2021, 11:20:00 AM

Asia-Focused Biotech SPAC Valuence Merger I Prices US$200 Million IPO

Special purpose acquisition company Valuence Merger Corp. I (Nasdaq: VMCAU) started trading on the Nasdaq...

Tuesday, March 1, 2022, 02:26:00 PM

Fashion Brand Lulus Prices US$92 Million IPO

Women’s fashion brand Lulu’s Fashion Lounge Holdings, Inc. (Nasdaq: LVLU), popularly known as Lulus, started...

Thursday, November 11, 2021, 02:23:00 PM

Electric Vehicle Maker Phoenix Motorcars Bats For Nasdaq IPO

Phoenix Motor Inc. is looking to join the list of electric vehicle manufacturers going public....

Monday, November 29, 2021, 02:10:00 PM

Semiconductor Maker GlobalFoundries Prices US$2.6 Billion IPO

Semiconductor manufacturer GlobalFoundries (Nasdaq: GFS) started publicly trading on the Nasdaq Global Select Market today....

Thursday, October 28, 2021, 02:11:00 PM