GSR III Acquisition Corp. (GSRT) (“GSRT” or the “Company”) announced today the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit, for aggregate gross proceeds of $200,000,000.
The units will be listed on the Nasdaq Global Market LLC (“Nasdaq”) and begin trading today under the ticker symbol “GSRTU.” Each unit consists of one of the Company’s Class A ordinary shares (the “Class A Ordinary Shares”) and one-seventh (1/7th) of one right (the “Rights”), with each whole right entitling the holder thereof to receive one Class A Ordinary Share upon the consummation of an initial business combination. No fractional rights will be issued upon separation of the units and only whole rights will trade. Once the securities comprising the units begin separate trading, the Class A Ordinary Shares and Rights are expected to be listed on the Nasdaq under the symbols “GSRT” and “GSRTR,” respectively. The offering is expected to close tomorrow, November 8, 2024, subject to customary closing conditions. GSRT has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units, at the initial public offering price to cover over-allotments, if any.
SPAC Advisory Partners LLC (“SAP”), a division of Kingswood Capital Partners (WA:CPAP) LLC, is acting as the sole underwriter for the initial public offering. SAP is a financial advisory firm wholly owned and controlled by the management of GSRT. Consequently, B. Riley Securities acted as a Qualified Independent (LON:IOG) Underwriter on the transaction.
A registration statement related to these securities has been filed on Form S-1 with the Securities and Exchange Commission and became effective on November 7, 2024 (File No. 333-280842). The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, by contacting Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, or by calling 212-487-1080 or emailing Syndicate@kingswoodUS.com. 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
