FirstMark Acquisition III, the third blank check company formed by FirstMark Capital targeting technology, filed on Monday with the SEC to raise up to $400 million in an initial public offering.
The New York, NY-based company company plans to raise $400 million by offering 40 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, FirstMark Acquisition III would command a market value of $500 million.
The company is led by CEO and Director Richard Heitzmann and Chairman and President Amish Jani, who co-founded venture firm FirstMark Capital in 2008 and serve as Partners. The group's other SPACs include FirstMark Acquisition II (FMIIU.RC), which filed last week to raise $200 million, and FirstMark Horizon Acquisition (FMAC.U; +10% from $10 offer price), which raised $360 million in October of last year. FirstMark Acquisition III intends to focus its search on target businesses in the technology industry.
FirstMark Acquisition III was founded in 2021 and plans to list on the NYSE. It has not yet chosen a ticker (RC ticker: FIIIU.RC). Credit Suisse is the sole bookrunner on the deal.
