WASHINGTON (dpa-AFX) - Bleichroeder Acquisition Corp. III late Monday announced the pricing of its initial price offering of 30 million units, planning to raise $300 million.
Each unit contains one Class A ordinary share of the Company and one-fourth of one redeemable warrant.
Each whole warrant grants the holder thereof to purchase a class A ordinary share at a price of $11.50 per share.
The company's units are expected to begin trading on Nasdaq on July 7, under the ticker 'BCCQU'. The offering is expected to close on July 8.
Furthermore, Bleichroeder has granted the underwriters a 45-day option to purchase up to additional 4.50 million units at the IPO price to cover over-allotments, if any.
The company noted that once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants would be listed on Nasdaq under the symbols 'BCCQ' and 'BCCQW'.
Cohen & Company Capital Markets is acting as Lead Book-Running Manager for the offering.
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