INSU Acquisition Corp. III (IIIIU) Prices Upsized $218M IPO


INSU Acquisition Corp. III (IIIIU) Prices Upsized $218M IPO

INSU Acquisition Corp. III announced the pricing of its $218 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “IIIIU” tomorrow, Friday, December 18.

The new company aims to combine with an insurance business with unique technology or attractive approach to distribution, brokering or services. INSU III is led by Chairman Daniel G. Cohen, President and CEO John M. Butler and CFO Joseph W. Pooler Jr.

Total SPAC deal count for 2020 year-to-date is now 239 with $80.3 billion in gross proceeds raised. This offering is expected to close on Tuesday, December 22.

Cantor Fitzgerald & Co. and Wells Fargo Securities LLC are acting as joint book-running managers for the offering. Ledgewood PC is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Grant Thornton LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.