The insurance-focused SPAC registered an additional 1.8 million units to increase its IPO by 9 percent to $218 million. INSU III has granted the underwriters a 45-day option to purchase up to an additional 3.27 million units at the IPO price of $10 each to cover over-allotments, if any.
Shares begin trading today on the Nasdaq under IIIIU.
INSU III is targeting businesses providing insurance or insurance related services, with particular emphasis on insurance distribution businesses, regulated insurance or reinsurance businesses, and insurance related technology businesses. Read more.
