Virgin Group Acquisition III in a letter to the SEDC said it is withdrawing plans for an offering of 30 million units at $10 each. That amount was downsized last October from the 50 million units the SPAC listed in its initial registration in Msrch 2021.
The SPAC had planned to focus on branded businesses that provide exceptional consumer experiences in sectors where Virgin has historically created value. Billionaire and occasional astronaut Richard Branson leads the company.
The SPAC had applied for a listing on the NYSE with Credit Suisse tapped as sole book-running manager. Read more.
