Haymaker Acquisition Corp. III Announces Closing of $300 Million Initial Public Offering

Rhea-AI Summary

Haymaker Acquisition Corp. III (NASDAQ: HYACU) has successfully closed its initial public offering, raising $300 million through the sale of 30 million units priced at $10.00 each. Proceeds are set to be placed in trust to facilitate future business combinations in the consumer sector. The offering was underwritten by Citigroup and Cantor Fitzgerald & Co. The SEC declared the registration statement effective on March 1, 2021.

Positive

• Successfully raised $300 million in IPO.
• Strong backing from Citigroup and Cantor Fitzgerald & Co. as underwriters.
• Plans to focus on acquiring businesses in the consumer-related sectors.

Negative

• None.

NEW YORK, March 04, 2021 (GLOBE NEWSWIRE) -- Haymaker Acquisition Corp. III (the "Company") (NASDAQ: HYACU) today announced that it closed its initial public offering of 30,000,000 units. The offering was priced at $10.00 per unit generating total gross proceeds of $300,000,000.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $300,000,000 (or $10.00 per unit sold in the public offering) was placed in trust.

The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to acquire and operate a business in the consumer or consumer-related products and services industries. The Company is led by Chief Executive Officer and Executive Chairman Steven J. Heyer, President Andrew R. Heyer, and Chief Financial Officer Christopher Bradley.

Citigroup and Cantor Fitzgerald & Co. served as the bookrunners and representatives of the underwriters of the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on March 1, 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.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 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.

Contact

HaymakerIII@icrinc.com

FAQ

What is Haymaker Acquisition Corp. III's IPO details?

Haymaker Acquisition Corp. III closed its IPO on March 4, 2021, raising $300 million by offering 30 million units at $10.00 each.

What will the proceeds from the IPO be used for?

The proceeds will be placed in trust and are intended to fund future acquisitions in the consumer products and services sectors.

Who were the underwriters for the IPO of HYACU?

Citigroup and Cantor Fitzgerald & Co. served as the underwriters for the initial public offering.

When was the registration statement for the IPO declared effective?

The registration statement was declared effective by the SEC on March 1, 2021.

What is the ticker symbol for Haymaker Acquisition Corp. III?

The ticker symbol for Haymaker Acquisition Corp. III is HYACU.