Software Acquisition Group III priced its IPO of 20 million units at $10 each.
Units begin trading today on the Nasdaq under SWAGU. Each consists of one share of stock and one-half of one redeemable warrant; whole warrants exercisable for one share at $11.50.
Once the units begin separate trading, shares and warrants are expected to list under SWAG and SWAGW.
The offering is expected to close Aug. 2.
The SPAC is focused on software companies, especially those targeting enterprise vertical sectors owned by private equity and venture capital firms as well as corporate carve-outs.
Jefferies is sole book-running manager of the offering. The underwriter has an option to purchase up to an additional 3 million units to cover over-allotments, if any. Read more.