Ascendant Digital Acquisition Corp. III (ACDI.U) Prices Upsized $261M IPO


Ascendant Digital Acquisition Corp. III (ACDI.U) Prices Upsized $261M IPO

Ascendant Digital Acquisition Corp. III announced the pricing of its upsized $261 million IPO and its units are expected to begin trading on the NYSE under the symbol “ACDI.U” Wednesday, November 10.

The new SPAC intends to combine with a business in the “Attention Economy”, which refers to various converging sectors within digital entertainment, television, music, print and digital books, e-sports, live events and other forms of consumer entertainment and enabling services and technologies. Ascendant Digital III is led by CEO Mark Gerhard, COO Riaan Hodgson, and President David Gomberg.

Total SPAC deal count for 2021 year-to-date is now 534. This offering is expected to close on Monday, November 15.

Goldman Sachs & Co. LLC is acting as the book-running manager with Odeon Capital Group, LLC as co-lead manager. White & Case LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.