Pivotal Investment III Files for $200M IPO


Pivotal Invesmtent III filed today to offer 20 million units at $10 each for a $200 million IPO.

Pivotal intends to focus on companies in North America “in industries ripe for disruption from continuously evolving digital technology and the resulting shift in distribution patterns and consumer purchase behavior,” the filing states, especially middle market and emerging growth companies. 

This is the third SPAC led by CEO and Chairman Jonathan Ledecky, who is co-owner of the National Hockey League’s New York Islanders franchise, and president and COO of Northern Star, a blank check company that raised $255 million in an IPO two months ago. Northern Star in December entered into a definitive agreement for a business combination with Barkbox.

Pivotal has applied to list on the NYSE under PICC.U. Read more.

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