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Texas Ventures Acquisition III Corp (Nasdaq: TVA) has announced that starting May 16, 2025, holders of units from its initial public offering can begin trading the company's Class A ordinary shares and warrants separately. The Class A ordinary shares and warrants will trade on the Nasdaq Global Market under the symbols "TVA" and "TVACW" respectively, while unseparated units will continue trading under "TVACU". Only whole warrants will be tradeable, with no fractional warrants being issued upon unit separation.
Texas Ventures Acquisition III Corp has successfully completed its initial public offering (IPO) of 22,500,000 units at $10.00 per unit, generating gross proceeds of $225 million. The units, trading under 'TVACU' on Nasdaq, comprise one Class A ordinary share and half a redeemable warrant, with whole warrants exercisable at $11.50 per share.
The company placed $226,125,000 in trust from the IPO proceeds and private warrant placement. As a blank check company, it aims to pursue business combinations primarily targeting industrial technology companies, focusing on advanced technologies including software, IoT, digital and energy transition, logistics, cloud services, and 5G communications.
Led by CEO E. Scott Crist and CFO R. Greg Smith, the company seeks targets offering significant value propositions such as cost reductions, substantial ROI, decreased carbon footprint, and improved safety protocols. Cohen & Company Capital Markets and Clear Street served as book-runners for the offering.
Texas Ventures Acquisition III Corp has announced the pricing of its $200 million initial public offering, comprising 20,000,000 units at $10.00 per unit. Trading will commence on Nasdaq under symbol 'TVACU' on April 23, 2025.
Each unit consists of one Class A ordinary share and one-half redeemable warrant, with whole warrants enabling purchase of one Class A share at $11.50. The Class A shares and warrants will eventually trade separately under 'TVA' and 'TVACW' symbols. Underwriters have a 45-day option to purchase up to 3,000,000 additional units.
The blank check company, led by CEO E. Scott Crist, aims to merge with businesses focusing on industrial technology, including advanced software, digital transition, logistics, cloud services, and 5G communications. Target companies should offer significant value through cost reductions, ROI, carbon footprint reduction, or safety improvements.
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