Texas Ventures Acquisition III Corp Completes $225 Million Initial Public Offering
Rhea-AI Summary
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.
Positive
- Successful IPO raising $225 million in gross proceeds
- Additional $226.1 million placed in trust ($10.05 per unit)
- Over-allotment option partially exercised by underwriters
- Listing on major exchange (Nasdaq Global Market)
Negative
- No specific acquisition target identified yet
- Blank check company structure carries inherent investment risks
- Success depends entirely on future business combination execution
Insights
Texas Ventures Acquisition III raises $225M in SPAC IPO targeting industrial tech companies with $10.05 per unit in trust.
Texas Ventures Acquisition III Corp has successfully completed its $225 million initial public offering by selling 22.5 million units at $10.00 each, which includes 2.5 million units from the underwriters' over-allotment option. This represents a standard SPAC (Special Purpose Acquisition Company) structure with typical market terms.
Each unit contains one Class A ordinary share plus one-half warrant, with whole warrants exercisable at $11.50 per share. The company placed $226.125 million ($10.05 per unit) in trust, slightly above the offering price, providing minimal additional security for potential shareholder redemptions.
The SPAC has a clearly defined acquisition strategy targeting industrial technology companies implementing advanced technologies such as software, IoT applications, digital and energy transition, logistics, cloud services, and 5G communications. Their specific focus on targets that deliver cost reductions, substantial ROI, decreased carbon footprints, or safety improvements suggests a pragmatic approach to value creation.
The "III" in the company name indicates this is management's third SPAC vehicle, suggesting experience with this acquisition format, though outcomes of previous efforts aren't detailed. The management team is led by E. Scott Crist as CEO/Chairman and R. Greg Smith as CFO, with three additional board members.
Units currently trade on Nasdaq under "TVACU" with plans for the shares and warrants to eventually trade separately under "TVA" and "TVACW" respectively. Like all SPACs, this blank check company has no current operations, with its sole purpose being to identify and merge with an operating business, typically within a 18-24 month timeframe.
NEW YORK, NY, April 24, 2025 (GLOBE NEWSWIRE) -- Texas Ventures Acquisition III Corp (the “Company”) announced today the closing of its initial public offering of 22,500,000 units, which includes 2,500,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at
The Company’s units began trading on April 23, 2025 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “TVACU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of
Of the proceeds received from the consummation of the initial public offering (including the partial exercise of the over-allotment option) and a simultaneous private placement of warrants,
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business, industry or geographical location. The Company’s primary focus, however, will be on targets focused on industrial technology, specifically companies implementing advanced technologies including software, mobile and IoT applications, digital and energy transition and consolidation, logistics and transportation, cloud and cyber communications as well as high bandwidth services, including LTE, remote sensing and 5G communications into the industrial sector. The Company will pursue completing a business combination with a target that presents a significant value proposition to its customer marketplace, including major cost reductions in the field, substantial returns on investment (ROI), a considerable decrease in carbon footprint, and/or vast improvements in safety, compliance, and environmental protocol.
The Company’s management team is led by E. Scott Crist, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), and R. Greg Smith, its Chief Financial Officer. The Board also includes Andrew Clark, Harvin Moore, and Aruna Viswanathan.
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as the lead book-running manager, and Clear Street LLC acted as joint book-runner for the offering.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on April 22, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Texas Ventures Acquisition III Corp
E. Scott Crist
scott@texasventures.com
713-599-1300
FAQ
What is the IPO price and total proceeds for Texas Ventures Acquisition III Corp (TVA)?
What sectors is Texas Ventures Acquisition III (TVA) targeting for acquisition?
How are the TVA units structured and what is the warrant exercise price?
How much money did Texas Ventures Acquisition III (TVA) place in trust from the IPO?
