Conyers Park III Files for $350M IPO

Conyers Park III Acquisition registered to offer 35 million units at $10 each. A unit consists of one share of Class A common stock and one-fifth of one warrant, with whole warrants redeemable at $11.50 for a share.

The new SPAC will focus on the consumer sector and consumer-related businesses.

Conyers III is led by Co-CEO James Kilts, who served as chairman, CEO and president of The Gillette Company from 2001 until it merged with The Procter & Gamble Company in 2005; at that time he became Vice Chairman of the Board of The Procter & Gamble Company. Co-CEO David West was CEO and president of Big Heart Pet Brands (formerly Del Monte Foods) from 2011 to 2015. West worked with Kilts during this time period, as Kilts was chairman of Big Heart Pet Brands. 

Deutsche Bank, Goldman Sachs and J.P. Morgan are managing the offering. The underwriters have a 45-day option to purchase up to an additional 5.25 million units to cover over-allotments, if any.

The SPAc has applied to list on the Nasdaq under CPAAU. Read more.

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