Pivotal Expenditure Corp. III Announces Closing of $276,000,000 Preliminary Community Presenting | Business

NEW YORK–(Organization WIRE)–Feb 11, 2021–

Pivotal Expense Corp. III (the “Company”) introduced these days that it shut its first community presenting of 27,600,000 models, which include the complete 3,600,000 models subject to the underwriters’ more than-allotment possibility, at $10.00 for each device, making total gross proceeds of $276,000,000. The models are mentioned on the New York Stock Exchange (“NYSE”) and commenced buying and selling on Tuesday, February 9, 2021, under the ticker image “PICC.U”. Each individual unit is composed of a person share of the Company’s Course A prevalent inventory and 1-fifth of a single redeemable warrant, just about every complete warrant entitling the holder thereof to acquire one share of Course A prevalent inventory at a value of $11.50 for each share, subject matter to adjustment. Only whole warrants are exercisable and will trade. After the securities comprising the units commence independent trading, shares of the Course A widespread stock and redeemable warrants are predicted to be mentioned on the NYSE under the symbols “PICC” and “PICC WS,” respectively.

Pivotal Expenditure Corp. III is a blank verify business shaped for the function of effecting a merger, money stock exchange, asset acquisition, stock order, reorganization or very similar small business mix with a person or a lot more organizations or entities. Although the Corporation may perhaps go after an original company combination target in any field or geographic spot, it intends to concentrate its look for on firms in North The usa in industries ripe for disruption from continuously evolving digital technologies and the resulting shift in distribution patterns and customer buy behavior. The Organization is led by Kevin Griffin, Chief Govt Officer and President, and Jonathan Ledecky, Chairman of the Board. Mr. Griffin is also the Chief Executive Officer and Chief Financial commitment Officer of MGG Expenditure Team, LP, a non-public expense agency.

Citigroup Worldwide Marketplaces Inc. and Cantor Fitzgerald & Co. acted as the joint ebook working supervisors for the supplying.

The giving was created only by implies of a prospectus. Copies of the prospectus may well be obtained from Citigroup World Markets Inc., c/o Broadridge Financial Solutions, 1155 Extended Island Avenue, Edgewood, New York 11717, Telephone: 1-800-831-9146.

Registration statements relating to these securities have been submitted with the Securities and Exchange Fee (“SEC”) and became powerful on February 8, 2021. This push release shall not constitute an provide to market or the solicitation of an offer to get, nor shall there be any sale of these securities in any state or jurisdiction in which these kinds of an present, solicitation or sale would be unlawful prior to registration or qualification less than the securities legal guidelines of any these types of point out or jurisdiction.

Ahead-Searching STATEMENTS

This push release is made up of statements that constitute “forward-wanting statements,” which include with respect to the initial general public giving and the research for an original small business mixture. Forward-wanting statements are topic to many ailments, several of which are further than the command of the Business, such as these set forth in the Chance Components section of the Company’s registration statement and remaining prospectus for the offering filed with the SEC. Copies are out there on the SEC’s web page, www.sec.gov. The Organization undertakes no obligation to update these statements for revisions or changes soon after the day of this launch, apart from as necessary by legislation.

See source version on businesswire.com:https://www.businesswire.com/news/house/20210211005949/en/

Contact: Jonathan Gasthalter/Nathaniel Garnick

Gasthalter & Co.

(212) 257-4170

Keyword: NEW YORK UNITED STATES NORTH The us

Market Keyword: BANKING Experienced Solutions FINANCE

Supply: Pivotal Expense Corp. III

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PUB: 02/11/2021 06:00 PM/DISC: 02/11/2021 06:00 PM

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