Crucible Acquisition III registered with the SEC to offer 35 million units at $10 each. A unit consists of one share of Class A common stock and one-fourth of one redeemable warrant; whole warrants exercisable at $11.50.
The SPAC will target companies in the software technology industry with an enterprise valuation between $1.8 billion and $3.0 billion, prioritizing cloud-based recurring revenue business models.
The company is led by CEO and Director James Lejeal, who holds the same roles over Crucible’s other two SPACs. The first Crucible SPAC raised $225 million in a January IPO. Crucible II filed for a $200 million IPO the same day as Crucible III. All are targeting the same market sector, although businesses of different valuations.
The SPAC plans to apply for a listing on the NYSE under CRUB.U. Read more.
