10X Capital Venture Acquisition Corp. III Announces Pricing of Upsized $261 Million Initial Public Offering

Rhea-AI Summary

10X Capital Venture Acquisition Corp. III has announced the successful pricing of its initial public offering (IPO) of 26,100,000 units at $10.00 per unit. The units will trade on the NYSE under the ticker symbol VCXB.U starting January 12, 2022. Each unit consists of one Class A ordinary share and one-half of a redeemable warrant, with whole warrants exercisable to purchase one Class A share at $11.50.

As a blank-check company, its focus is on merging with high-growth technology businesses. Cantor Fitzgerald & Co. is managing the offering, with a 45-day option for underwriters to purchase additional units.

Positive

• Successful pricing of an upsized IPO of 26,100,000 units at $10.00 per unit.
• Focus on high-growth sectors such as technology, e-commerce, and healthcare.

Negative

• No assurance that the IPO will be completed on the described terms.
• Forward-looking statements are subject to risks beyond the company's control.

New York, NY, Jan. 11, 2022 (GLOBE NEWSWIRE) -- 10X Capital Venture Acquisition Corp. III (the “Company”) today announced the pricing of its upsized initial public offering of 26,100,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “VCXB.U” beginning on January 12, 2022. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants will be exercisable. Once 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 “VCXB” and “VCXB WS,” respectively.

10X Capital Venture Acquisition Corp. III is a blank-check company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on identifying high growth technology and tech-enabled businesses domestically and abroad in the consumer internet, ecommerce, software, healthcare, transportation / mobility and financial services industries, as well as other industries which are being disrupted by advances in technology and on technology paradigms including artificial intelligence, automation, data science, ecommerce and Software-as-a-Service.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,915,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: prospectus@cantor.com.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 11, 2022. 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 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.

Contact

Max Staedtler
10X Capital
One World Trade Center, 85^th Floor
New York, NY 10007
(212) 257-0069
max@10xcapital.com

FAQ

What is the IPO price for 10X Capital Venture Acquisition Corp. III?

The IPO price is $10.00 per unit.

When will the units for 10X Capital begin trading?

The units will begin trading on January 12, 2022.

What is included in each unit of the IPO?

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

What is the ticker symbol for the units?

The ticker symbol for the units is VCXB.U.

What sectors does 10X Capital intend to focus on for mergers?

10X Capital intends to focus on high-growth sectors including technology, e-commerce, and healthcare.