Osprey Acquisition III Raises $300.15M in IPO by Selling 30 Million Units
Osprey Acquisition Corp. III sold 30,015,000 units at $10 each, including 3,915,000 over-allotment units, raising $300.15 million in gross proceeds. Each unit comprises one Class A share and one-third of a warrant exercisable at $11.50, with tradable shares and warrants to list separately on Nasdaq.
1. IPO Completion and Gross Proceeds
Osprey Acquisition Corp. III completed its initial public offering by selling 30,015,000 units at $10 per unit, including 3,915,000 units issued through the underwriters’ full over-allotment option, resulting in total gross proceeds of $300.15 million.
2. Unit Structure and Trading Plans
Each unit includes one Class A ordinary share and one-third of a redeemable warrant, with each whole warrant granting the right to purchase one share at an $11.50 exercise price. Units began trading on the Nasdaq Global Market under the symbol OSPRU, with separate listings for Class A shares and warrants expected under OSPR and OSPRW respectively.
3. Use of Funds and Acquisition Focus
All $300.15 million of IPO proceeds were placed into the company’s trust account for future business combinations. The SPAC will pursue mergers with companies deploying disruptive technologies and next-generation energy infrastructure, under leadership from CEO David Heikkinen, Co-Executive Chairmen Daniel C. Herz and Jonathan Z. Cohen, and CFO Thomas C. Elliott.
