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Sparks Energy, Inc. has announced a merger agreement with 10X Capital Venture Acquisition Corp. III (NYSE: VCXB). The transaction will create a publicly traded company under the ticker symbol 'SPKS'. Sparks specializes in power infrastructure recovery services, responding to outages caused by extreme weather across the U.S. With increasing demand due to climate change and investment in renewables, the merger positions Sparks for growth. The pro forma enterprise value of the combined entity is estimated at $475 million, aided by a $50 million equity facility, and is expected to close in 2023.
10X Capital Venture Acquisition Corp. III (NYSE: VCXB.U) announced that starting March 4, 2022, investors can separately trade its Class A ordinary shares and warrants from its initial public offering units. The Class A ordinary shares will trade under the symbol VCXB and warrants under VCXBWS, while units that are not separated will continue trading as VCXB.U. It’s important to note that only whole warrants will be traded, and holders must contact Continental Stock Transfer & Trust Company for the separation process. The offering's registration statement was effective January 11, 2022.
10X Capital Venture Acquisition Corp. III (NYSE: VCXB.U) has successfully completed its initial public offering of 30,000,000 units, raising gross proceeds of $300 million. The offering was upsized and included the exercise of an over-allotment option for an additional 3,900,000 units. Each unit comprises one Class A ordinary share and one-half of a redeemable warrant, with full warrants exercisable at $11.50 per share. The units and individual securities will trade under the symbols VCXB and VCXB.WS. Funds from the IPO are primarily allocated into a trust.
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.
