Thunder Bridge Capital Partners III Inc. Announces Pricing of Upsized $360,000,000 Initial Public Offering

Rhea-AI Summary

Thunder Bridge Capital Partners III has successfully priced its initial public offering (IPO) of 36 million units at $10.00 per unit, set to trade on Nasdaq under the ticker symbol TBCPU on February 5, 2021. Each unit includes one share of Class A common stock and one-fifth of a redeemable warrant, allowing purchase of additional shares at $11.50. The firm, focused on the financial services industry, has also granted underwriters a 45-day option to buy up to 5.4 million additional units. The offering is led by Morgan Stanley.

Positive

• Successful pricing of IPO at $10.00 per unit.
• Upsized offering of 36 million units, indicating strong demand.
• Focus on financial services industry may provide growth opportunities.

Negative

• Potential shareholder dilution if additional units are purchased by underwriters.

New York, NY , Feb. 04, 2021 (GLOBE NEWSWIRE) -- Thunder Bridge Capital Partners III Inc. (the “Company”) announced today that it priced its upsized initial public offering of 36,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading tomorrow, Friday, February 5, 2021, under the ticker symbol “TBCPU”. Each unit consists of one of the Company’s shares of Class A common stock and one-fifth of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable.  Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “TBCP” and “TBCPW,” respectively.

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. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the financial services industry. The Company is led by Chief Executive Officer Gary A. Simanson.

Morgan Stanley & Co. LLC is acting as sole book running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,400,000 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  Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on February 4, 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 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 preliminary prospectus for the offering filed with the Securities and Exchange Commission (“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
Gary A. Simanson
202.431.0507
gsimanson@thunderbridge.us

FAQ

What are the details of Thunder Bridge Capital Partners III's IPO?

Thunder Bridge Capital Partners III priced its IPO at $10.00 per unit for a total of 36 million units, set to trade under the ticker symbol TBCPU.

What does each unit in the IPO consist of?

Each unit consists of one share of Class A common stock and one-fifth of a redeemable warrant, with the warrant allowing purchase of shares at $11.50.

When will Thunder Bridge Capital Partners III begin trading?

The company will begin trading on Nasdaq on February 5, 2021.

What is the intended focus of Thunder Bridge Capital Partners III?

The company intends to focus its search for business combinations primarily in the financial services industry.

Is there a risk of share dilution for investors?

Yes, there is a potential risk of dilution if underwriters exercise their option to purchase additional units.