MIAMI, Nov. 3, 2021 /PRNewswire/ — Lionheart III Corp (the “Company“) announced today the pricing of its upsized initial public offering of 11,500,000 units at a price of $10.00 per unit. The units will be listed on The Nasdaq Global Market (“Nasdaq“) and will trade under the ticker symbol “LIONU” and will begin trading on Nasdaq on November 4, 2021.
Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share (subject to adjustment). Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and the warrants are expected to be listed on Nasdaq under the symbols “LION” and “LIONW,” respectively. The offering is expected to close on November 8, 2021, subject to satisfaction of customary closing conditions.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to acquire businesses of scale that the Company believes are poised for continued growth with capable management teams and proven unit economics, but potentially in need of financial, operational, strategic or managerial enhancement to maximize value.
Nomura Securities International, Inc. is acting as sole book-running manager of the offering, and Northland Securities, Inc. and Drexel Hamilton, LLC are each acting as co-managers of the offering. The Company has granted the underwriters a 45-day option to purchase up to 1,000,000 of the units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC“) on November 3, 2021. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained by contacting Nomura Securities International, Inc., Attention: Equity Syndicate Department, Worldwide Plaza, 309 West 49th Street, New York, New York
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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above 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 the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Faquiry Diaz Cala
Chief Operating Officer of the Company
SOURCE SOURCE: Lionheart III Corp
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