Consumer SPAC Haymaker Acquisition III prices $300 million IPO

Haymaker Acquisition III, the third consumer-focused blank check company led by the former CEO of Starwood Hotels, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Steven Heyer, who previously served as CEO of Starwood Hotels & Resorts Worldwide and COO of The Coca-Cola Company, and President and Director Andrew Heyer, the founder and CEO of consumer-focused private equity fund manager Mistral Equity Partners. The company plans to target a business in the consumer and consumer-related products and services industries.

Management's previous SPACs include Haymaker Acquisition II, which went public in June 2019 and completed its acquisition of ARKO Holdings (ARKO; -5% from $10 offer price) in December 2020, and Haymaker Acquisition, which went public in October 2017 and completed its merger with OneSpaWorld Holdings (OSW; +14%) in March 2019.

Haymaker Acquisition III plans to list on the Nasdaq under the symbol HYACU. Citi and Cantor Fitzgerald acted as lead managers on the deal.