Core Viewpoint - Texas Ventures Acquisition III Corp successfully closed its initial public offering (IPO) of 22,500,000 units, generating gross proceeds of 10.00 per unit [1][2]. Group 1: IPO Details - The IPO included 2,500,000 units from the underwriters' over-allotment option [1]. - The units began trading on April 23, 2025, on the Nasdaq under the ticker symbol "TVACU" [2]. - Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at an exercise price of 226,125,000 (or $10.05 per unit sold) from the IPO proceeds was placed in trust [3]. Group 3: Company Purpose and Focus - The Company is a blank check company aimed at merging or acquiring businesses across various industries, with a primary focus on industrial technology [4]. - Target sectors include advanced technologies such as software, mobile and IoT applications, digital and energy transition, logistics, and high bandwidth services like LTE and 5G communications [4]. - The Company seeks targets that offer significant value propositions, including cost reductions, substantial ROI, decreased carbon footprints, and improved safety and compliance [4]. Group 4: Management Team - The management team is led by E. Scott Crist (CEO and Chairman) and R. Greg Smith (CFO), with additional board members including Andrew Clark, Harvin Moore, and Aruna Viswanathan [5]. - Cohen & Company Capital Markets acted as the lead book-running manager, while Clear Street LLC served as the joint book-runner for the offering [5].
Texas Ventures Acquisition III Corp Completes $225 Million Initial Public Offering
GlobeNewswire·2025-04-24 16:50