Ascendant Digital Acquisition III registered to offer 25 million units, each consisting of one Class A ordinary share and one-third of one redeemable warrant. Whole warrants are exercisable at $11.50.
The underwriters have a 45-day option from the date of this prospectus to purchase up to an additional 3,750,000 units to cover any over-allotments. The SPAC’s sponsor Ascendant Sponsor III has committed to purchase up to 5.375 million warrants at $1 each if the underwriters’ over-allotment option is exercised in full.
Ascendant III said it will target what it calls the Attention Economy — sectors within interactive digital entertainment, film/television, music, print and digital books (including magazine and comics publications), e-sports, live events and other forms of consumer entertainment and enabling services and technologies.
Ascendant III is led by CEO and Director Mark Gerhard, who has been the co-founder, CEO and CTO of Disruptional (formerly Playfusion), an artificial intelligence technology and gaming studio.
The SPAC intends to apply for a listing on the NYSE but has not yet selected a ticker symbol. Read more.
