Hudson Executive Investment Corp. III Announces Closing of $600 Million Initial Public Offering
Hudson Executive Investment Corp. III announced the successful closing of its initial public offering (IPO) on February 26, 2021, raising $600 million. The IPO consisted of 60 million units priced at $10.00 each, including an over-allotment of 7.5 million units. The units, which began trading on February 24, 2021, under the symbol HIIIU, contain one share of Class A common stock and one-fifth of a redeemable warrant, each exercisable at $11.50. The company aims to pursue technology-driven business combinations.
- Raised $600 million in IPO, securing significant capital for future acquisitions.
- Units consist of shares and warrants, providing investors with multiple investment opportunities.
- Focus on technology-driven companies presents potential for high growth.
- Potential dilution of shares when warrants are exercised.
NEW YORK, Feb. 26, 2021 /PRNewswire/ -- Hudson Executive Investment Corp. III (the "Company") announced today that it closed its initial public offering of 60,000,000 units at a price of
Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Barclays Capital Inc. acted as joint bookrunning managers of the offering.
About Hudson Executive Investment Corp. III
Hudson Executive Investment Corp. III is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company was co-sponsored by Hudson Executive Capital LP (HEC), a value-oriented, event-driven investment firm with a focus on small and mid-cap companies, Douglas L. Braunstein, its founder and managing partner, and Douglas G. Bergeron, its managing partner. The company intends to focus its search on technology-driven, disruptive companies with desirable growth-oriented characteristics as well as on more mature businesses with attractive cash flow characteristics and long-term, sustainable competitive advantage.
Hudson Executive Investment Corp., the first SPAC managed by Mr. Braunstein and Mr. Bergeron, went public and raised
About Douglas L. Braunstein
Prior to founding Hudson Executive Capital, Douglas L. Braunstein was the Chief Financial Officer of JPMorgan Chase from 2010 to 2012 and its Vice Chairman from 2013 to 2015. As a leading investment banker and trusted corporate advisor, Mr. Braunstein has been instrumental in originating, structuring, negotiating and advising on many significant transactions across the Company's sectors of focus. Prior to his role as CFO of JPMorgan Chase, Mr. Braunstein served in several leadership positions at the bank, including Head of Investment Banking in the Americas, Head of Global M&A and Global Industry Coverage and Head of Healthcare Investment Banking, as well as serving on the Investment Bank Management Committee for over ten years.
About Douglas G. Bergeron
Mr. Bergeron's expertise in the financial services sector, FinTech in particular, and the technology industry spans over 35 years, including 12 years as the Chief Executive Officer of Verifone Systems, Inc., a provider of technology for electronic payment transactions and value-added services at the point-of-sale. As CEO, he led Verifone from sales of under
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on February 23, 2021. 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.
The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 800-831-9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, email: prospectuseq_fi@jpmchase.com; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (888) 603-5847, email: barclaysprospectus@broadridge.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the 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 for the initial public 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.
Investor Contact
Hatcher Snead IR@hudsonexecutive.com
212-521-8495
Media Contact
Gladstone Place Partners
Felipe Ucros/Max Dutcher
212-230-5930
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SOURCE Hudson Executive Investment Corp. III
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