July 20, 2024

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Pivotal Financial investment Corp. III Announces Pricing of Upsized $240,000,000 Initial General public Providing

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NEW YORK–(Enterprise WIRE)–Pivotal Investment decision Corp. III (the “Company”) declared nowadays that it priced its upsized original community providing of 24,000,000 units at $10.00 per device. The models will be mentioned on the New York Inventory Trade (“NYSE”) and will commence trading tomorrow, Tuesday, February 9, 2021, less than the ticker symbol “PICC.U”. Just about every unit is composed of a single share of the Company’s Course A prevalent stock and one-fifth of one redeemable warrant, each individual entire warrant entitling the holder thereof to purchase 1 share of Course A widespread inventory at a price tag of $11.50 per share, subject to adjustment. Only whole warrants are exercisable and will trade. After the securities comprising the models start out separate trading, shares of the Course A widespread inventory and redeemable warrants are envisioned to be mentioned on the NYSE underneath the symbols “PICC” and “PICC WS,” respectively.

The offering is predicted to close on Thursday, February 11, 2021, issue to customary closing situations.

Pivotal Investment Corp. III is a blank examine enterprise shaped for the goal of effecting a merger, funds stock trade, asset acquisition, inventory order, reorganization or comparable small business combination with just one or much more enterprises or entities. Whilst the Firm may possibly go after an preliminary organization mixture target in any market or geographic area, it intends to emphasis its lookup on firms in North America in industries ripe for disruption from consistently evolving digital technological know-how and the ensuing change in distribution patterns and purchaser purchase habits. The Organization is led by Jonathan Ledecky, Chairman of the Board, and Kevin Griffin, Main Government Officer and President.

Citigroup Worldwide Marketplaces Inc. and Cantor Fitzgerald & Co. are acting as the joint book working professionals for the providing. The Firm has granted the underwriters a 45-day possibility to invest in up to an additional 3,600,000 units at the preliminary community giving price tag to deal with above-allotments, if any.

The giving is remaining built only by implies of a prospectus. Copies of the prospectus might be obtained, when out there, from Citigroup Global Markets Inc., c/o Broadridge Money Alternatives, 1155 Prolonged Island Avenue, Edgewood, New York 11717, Phone: 1-800-831-9146.

Registration statements relating to these securities have been submitted with the Securities and Trade Fee (“SEC”) and grew to become successful on February 8, 2021. This press launch shall not represent an provide to offer or the solicitation of an present to invest in, nor shall there be any sale of these securities in any point out or jurisdiction in which this kind of an provide, solicitation or sale would be illegal prior to registration or qualification less than the securities legal guidelines of any these kinds of state or jurisdiction.

Forward-Hunting STATEMENTS

This press release has statements that represent “forward-hunting statements,” which include with respect to the proposed initial community presenting and the expected use of net proceeds. No assurance can be supplied that the providing talked about earlier mentioned will be completed on the phrases described, or at all, or that the web proceeds of the presenting will be utilised as indicated. Forward-searching statements are issue to numerous disorders, a lot of of which are past the management of the Enterprise, like these set forth in the Hazard Elements portion of the Company’s registration assertion and preliminary prospectus for the presenting submitted with the SEC. Copies are readily available on the SEC’s internet site, www.sec.gov. The Corporation undertakes no obligation to update these statements for revisions or alterations just after the date of this launch, except as necessary by regulation.

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