New Beginnings Acquisition III in a letter to the SEC asked to withdraw its planned IPO of 10 million units, initially registered with the regulator more than a year ago.
The SPAC had planned to list on the NYSE American with the goal of acquiring a company in the travel, hospitality, leisure, fintech, insurance technology and property technology proptech sectors outside of the United States.
The SPAC is led by Chairman Russell W. Galbut who co-founded Crescent Heights, a residential property developer.
Ladenburg Thalmann had been tapped as sole book-running manager. Read more.
