Twelve Seas Investment Company III Stock Price, News & Analysis

Twelve Seas Investment Company III (NASDAQ: TWLVU) is described as a blank check company, also known as a special purpose acquisition company (SPAC). According to its public disclosures, it was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company’s units trade on the Nasdaq Global Market under the ticker symbol TWLVU.

The company states that it may pursue an initial business combination target in any industry or geographic location. However, it indicates an intention to focus its search on global companies located outside the United States, with an emphasis on established profitable enterprises in oil and gas and other sectors that it considers proven. Twelve Seas Investment Company III also notes that it will consider prospective targets located in the United States that are owned by non-U.S. shareholders, including sovereign wealth funds, family offices, international entrepreneurs or global industrial conglomerates.

Each TWLVU unit consists of one Class A ordinary share of Twelve Seas Investment Company III and one right to receive one tenth (1/10) of a Class A ordinary share upon the consummation of the company’s initial business combination. The company has indicated that, once the securities comprising the units begin separate trading, its Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols TWLV and TWLVR, respectively.

Business purpose and focus

Twelve Seas Investment Company III explains that its primary objective is to identify and complete a business combination with one or more operating businesses. It does not limit itself to a particular industry, but its stated focus is on global companies outside the United States, particularly in oil and gas and other sectors it views as established. It also highlights potential targets in the United States that are owned by non-U.S. shareholders such as sovereign wealth funds, family offices, international entrepreneurs or global industrial conglomerates.

As a blank check company, Twelve Seas Investment Company III does not describe any operating business of its own. Instead, its disclosures emphasize its role as a vehicle to raise capital and then seek a suitable business combination. The proceeds from its initial public offering and a simultaneous private placement of units were placed in a trust account for the benefit of its public shareholders.

Capital structure and units

According to the company’s announcements, the initial public offering of Twelve Seas Investment Company III consisted of units priced at $10.00 per unit. Each unit includes one Class A ordinary share and one right to receive one tenth of a Class A ordinary share upon completion of the initial business combination. The company has stated that the gross proceeds from the offering and related private placement were deposited into a trust account.

The company’s disclosures note that its units began trading on the Nasdaq Global Market under the symbol TWLVU. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to trade under the symbols TWLV and TWLVR, respectively, on Nasdaq.

Industry classification

Twelve Seas Investment Company III is classified in the Financial Services sector, within the Shell Companies or blank check company category. This reflects its stated purpose of seeking a business combination rather than operating an existing commercial business. Its focus on potential targets in oil and gas and other proven sectors, and on companies outside the United States or U.S. companies owned by non-U.S. shareholders, is part of its disclosed acquisition strategy.

Relationship to other Twelve Seas entities

Public information also references Twelve Seas Investment Company II as a separate blank check company. Twelve Seas Investment Company II has described a similar purpose of effecting a business combination and has focused its search on global companies located outside the United States, including regions such as Western Europe, Eastern Europe and the Middle East, and on U.S. targets owned by non-U.S. shareholders. While this provides context about the broader Twelve Seas platform, Twelve Seas Investment Company III is a distinct entity with its own capital structure and unit listing under the symbol TWLVU.

Investor considerations

Because Twelve Seas Investment Company III is a blank check company, investors in TWLVU units and any separately trading Class A ordinary shares or rights are primarily exposed to the company’s ability to identify, evaluate and complete a business combination. Until such a transaction is completed, the company’s disclosures indicate that the proceeds from the offering are held in a trust account for the benefit of public shareholders. The company’s stated strategy emphasizes established profitable enterprises in oil and gas and other sectors it considers proven, and potential targets outside the United States or U.S. companies owned by non-U.S. shareholders.

FAQs about Twelve Seas Investment Company III (TWLVU)

• What is Twelve Seas Investment Company III?
  

  Twelve Seas Investment Company III is described as a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

• What does it mean that TWLVU is a blank check company?
  

  As a blank check company, Twelve Seas Investment Company III does not describe an operating business of its own. Instead, it raises capital through an initial public offering and seeks to complete a business combination with one or more target businesses.

• What is the focus of Twelve Seas Investment Company III’s acquisition strategy?
  

  The company states that it may pursue a business combination in any industry or geographic location, but it intends to focus on global companies located outside the United States, with an emphasis on established profitable enterprises in oil and gas and other sectors it considers proven. It will also consider U.S. targets owned by non-U.S. shareholders, including sovereign wealth funds, family offices, international entrepreneurs or global industrial conglomerates.

• What does each TWLVU unit include?
  

  According to the company’s announcements, each TWLVU unit consists of one Class A ordinary share of Twelve Seas Investment Company III and one right to receive one tenth (1/10) of a Class A ordinary share upon the consummation of the company’s initial business combination.

• On which exchange do TWLVU units trade?
  

  The company has stated that its units trade on the Nasdaq Global Market under the ticker symbol TWLVU. It has also indicated that, once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols TWLV and TWLVR, respectively.

• How are the proceeds of the initial public offering held?
  

  Twelve Seas Investment Company III has disclosed that the gross proceeds from its initial public offering and a simultaneous private placement of units were placed in a trust account for the benefit of its public shareholders.

• What sector and industry classification apply to Twelve Seas Investment Company III?
  

  The company is classified in the Financial Services sector, within the Shell Companies or blank check company category, reflecting its role as a vehicle to pursue a business combination rather than operate an existing business.

• Can Twelve Seas Investment Company III pursue targets in the United States?
  

  Yes. While its stated focus is on global companies located outside the United States, the company also notes that it will consider prospective targets located in the United States that are owned by non-U.S. shareholders, including sovereign wealth funds, family offices, international entrepreneurs or global industrial conglomerates.