DD3 Acquisition III, the third blank check company formed by DD3 Capital Partners, filed on Monday with the SEC to raise up to $150 million in an initial public offering.
The Mexico City, Mexico-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, DD3 Acquisition III would command a market value of $188 million.
The company is led by CEO and Chairman Martin Werner, who co-founded financial advisory firm DD3 Capital Partners and currently serves as a Partner. While the company has not selected a target industry, it plans to focus on businesses that are fundamentally sound, innovative with strong free cash flow, and could benefit from a hands-on partner with financial experience, among other characteristics.
DD3 Capital Partners' previous SPACs include DD3 Acquisition II (DDMXU; +6% from $10 offer price), which went public in December 2020, and DD3 Acquisition, which went public in October 2018 and completed its acquisition of Betterware de Mexico (BWMX; +286%) in March 2020.
DD3 Acquisition III was founded in 2021 and plans to list on the Nasdaq under the symbol DIIIU. Morgan Stanley is the sole bookrunner on the deal.
