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Pivotal Expense Corp. III Announces Closing of $276,000,000 First Public Supplying | Company

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NEW YORK–(Small business WIRE)–Feb 11, 2021–

Pivotal Investment Corp. III (the “Company”) announced nowadays that it shut its preliminary community offering of 27,600,000 models, including the full 3,600,000 units issue to the underwriters’ around-allotment alternative, at $10.00 per device, producing overall gross proceeds of $276,000,000. The units are mentioned on the New York Stock Exchange (“NYSE”) and began trading on Tuesday, February 9, 2021, underneath the ticker image “PICC.U”. Every unit is composed of a person share of the Company’s Class A frequent stock and a single-fifth of a single redeemable warrant, every single full warrant entitling the holder thereof to acquire just one share of Course A common inventory at a rate of $11.50 for each share, topic to adjustment. Only entire warrants are exercisable and will trade. At the time the securities comprising the units start off separate investing, shares of the Course A prevalent stock and redeemable warrants are anticipated to be outlined on the NYSE beneath the symbols “PICC” and “PICC WS,” respectively.

Pivotal Expenditure Corp. III is a blank examine firm formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock order, reorganization or very similar business combination with one or a lot more enterprises or entities. While the Company may perhaps pursue an first organization combination goal in any industry or geographic location, it intends to aim its research on organizations in North The united states in industries ripe for disruption from continuously evolving digital technologies and the resulting change in distribution styles and customer purchase conduct. The Enterprise is led by Kevin Griffin, Chief Executive Officer and President, and Jonathan Ledecky, Chairman of the Board. Mr. Griffin is also the Main Govt Officer and Main Investment Officer of MGG Expenditure Group, LP, a private expenditure organization.

Citigroup World wide Marketplaces Inc. and Cantor Fitzgerald & Co. acted as the joint book working managers for the supplying.

The supplying was designed only by means of a prospectus. Copies of the prospectus may perhaps be acquired from Citigroup World wide Marketplaces Inc., c/o Broadridge Financial Solutions, 1155 Prolonged Island Avenue, Edgewood, New York 11717, Phone: 1-800-831-9146.

Registration statements relating to these securities have been filed with the Securities and Trade Commission (“SEC”) and grew to become effective on February 8, 2021. This press release shall not constitute an provide to provide or the solicitation of an give to purchase, nor shall there be any sale of these securities in any state or jurisdiction in which these kinds of an offer you, solicitation or sale would be unlawful prior to registration or qualification below the securities laws of any these types of condition or jurisdiction.

Forward-Seeking STATEMENTS

This push launch consists of statements that represent “forward-on the lookout statements,” which include with regard to the first general public giving and the search for an first company combination. Ahead-looking statements are subject to several problems, a lot of of which are over and above the management of the Firm, which includes all those set forth in the Risk Elements part of the Company’s registration statement and final prospectus for the supplying filed with the SEC. Copies are readily available on the SEC’s website, www.sec.gov. The Enterprise undertakes no obligation to update these statements for revisions or changes after the day of this launch, other than as expected by legislation.

Get hold of: Jonathan Gasthalter/Nathaniel Garnick

Key word: NEW YORK UNITED STATES NORTH The united states

Market Key word: BANKING Qualified Providers FINANCE

Supply: Pivotal Financial investment Corp. III

Copyright Business Wire 2021.

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

Copyright Enterprise Wire 2021.

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