Spartan Acquisition Corp. III (SPAQ.U) Prices Upsized $480M IPO

Spartan Acquisition Corp. III announced the pricing of its upsized $480 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “SPAQ.U” Tuesday, February 9.

The new company aims to combine with business guiding the economy’s transition towards cleaner energy sources that has unrecognized value. Spartan III is led by CEO and Chairman Geoffrey Strong alongside CFO and Chief Accounting Officer James Crossen.

Total SPAC deal count for 2021 year-to-date is now 122 with $36.4 billion in gross proceeds raised. This offering is expected to close on Thursday, February 11.

Credit Suisse, Citigroup and Cowen are acting as book-running managers and representatives of the underwriters. Morgan Stanley, Barclays and RBC Capital Markets are acting as book-running managers for the offering. TD Securities, MUFG and Siebert Williams Shank are acting as co-managers for the offering. Vinson & Elkins LLP is serving as Issuer’s Counsel with Latham & Watkins LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.