G3 VRM Acquisition filed with the SEC to offer 10 million units, each consisting of one share of Class A common stock and one-half of a redeemable warrant. Whole warrants would be exercisable at $11.50.
The underwriters have a 45-day option to purchase up to an additional 1.5 million units to cover any over-allotments. Maxim Group is managing the offering.
Management in the filing said they expect to focus on acquiring a business within the technology and business services industry, with an enterprise value of approximately $250 million to $500 million.
G3 VRM is led by CEO and Chairman Matthew Konkle, who is senior managing director and head of industry teams for G2 Capital Advisors.
The SPAC has applied to list on the Nasdaq under GGGVU. Read more.
