Supernova Partners Acquisition Company III, Ltd. Announces Pricing of $250 Million Initial Public Offering

Rhea-AI Summary

Supernova Partners Acquisition Company III, Ltd. has priced its initial public offering (IPO) of 25,000,000 units at $10.00 each, aiming to raise $250 million. The IPO will trade on the NYSE under the symbol STRE.U starting March 23, 2021. Each unit consists of one Class A ordinary share and one-fifth of a redeemable warrant with an exercise price of $11.50. The underwriters have a 45-day option for an additional 3,750,000 units to cover over-allotments. Supernova III focuses on merging with technology companies in internet and media sectors.

Positive

• Raised $250 million through the IPO.
• Strong leadership team with experience from past successful ventures.
• Focused on lucrative technology sectors for potential mergers.

Negative

• Completion of the offering is uncertain and may not occur as planned.

WASHINGTON, March 22, 2021 /PRNewswire/ -- Supernova Partners Acquisition Company III, Ltd. ("Supernova III") announced today the pricing of its initial public offering of 25,000,000 units at a price of $10.00 per unit.

Supernova III is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Supernova III will look to partner with a technology company focused on internet, consumer, media and similar businesses.

Supernova III is led by the team that founded its predecessors, Supernova Partners Acquisition Company, Inc. and Supernova Partners Acquisition Company II, Ltd., consisting of Spencer Rascoff, a serial entrepreneur who co-founded Hotwire and Zillow and who led Zillow as CEO for nearly a decade; Alexander Klabin, founder and CEO of Ancient Management LP, and co-founder of Senator Investment Group; Robert Reid, an investor who worked for 21 years at Blackstone in its Private Equity Group; and Michael Clifton, an investor who was most recently a senior investment professional at The Carlyle Group.

The units will be listed on the New York Stock Exchange (the "NYSE") and will trade under the ticker symbol "STRE.U" beginning on March 23, 2021.  Each unit consists of one Class A ordinary share of Supernova III and one-fifth of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at an exercise price of $11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols "STRE" and "STRE WS," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

J.P. Morgan Securities LLC and Jefferies LLC are acting as book runners for the offering. Supernova III has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from:

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

or

Jefferies LLC
Attention: Equity Syndicate Prospectus Department
520 Madison Avenue, 2nd Floor
New York, NY 10022
Telephone: 1-877-821-7388
Email: Prospectus_Department@Jefferies.com

A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and became effective on March 22, 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 an 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 Supernova III's initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Supernova III, including those set forth in the Risk Factors section of Supernova III's preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Supernova III undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View original content:http://www.prnewswire.com/news-releases/supernova-partners-acquisition-company-iii-ltd-announces-pricing-of-250-million-initial-public-offering-301253233.html

SOURCE Supernova Partners Acquisition Company III, Ltd.

FAQ

What is the initial public offering price for Supernova Partners Acquisition Company III?

The IPO price is set at $10.00 per unit.

When will Supernova Partners Acquisition Company III start trading on NYSE?

Trading will begin on March 23, 2021 under the ticker symbol STRE.U.

What does each unit in the Supernova III IPO consist of?

Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant.

What is the exercise price for the warrants in Supernova III's IPO?

The exercise price for the warrants is $11.50 per share.

Who are the underwriters for the Supernova Partners Acquisition Company III offering?

The underwriters are J.P. Morgan Securities LLC and Jefferies LLC.