Software Acquisition Group III closed its IPO of 20 million units priced at $10 each.
Units list on the Nasdaq under SWAGU. Each consists of one share and one-half of one redeemable warrant, each whole warrant entitling the holder to purchase a share at $11.50. Once the securities begin separate trading, shares and warrants are expected to list under SWAG and SWAGW.
The SPAC intends to focus on software companies, especially those targeting enterprise vertical sectors owned by private equity and venture capital firms as well as corporate carve-outs.
Jefferies LLC acted as sole book-running manager of the offering. The underwriters have an option to purchase up to 3 million additional units solely to cover any over-allotments. Read more.