Spartan Acquisition III registered an additional 8 million units at $10 each to upsize its IPO to $480 million from the initial plan to raise $400 million. The SPAC added an additional 1.2 million units for the underwriters’ option to cover any over-allotments.
The units list on the NYSE and trade under SPAQ.U. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under SPAQ and SPAQ.WS, respectively.
Spartan III plans to target a business in the energy value chain.
The SPAC’s sponsor is owned by a private investment fund managed by an affiliate of Apollo Global Management. Read more.
