GP-Act III Acquisition Withdraws $250M IPO

GP-Act III Acquisition in a letter to the SEC said it is withdrawing an offering of 25 million units originally registered with the regulator in March 2021.

The SPAC in its initial S-1 filing said it would target “businesses that can benefit from our management team’s established global relationships, sector expertise and active management and operating experience.”

GP-Act III is led by Co-Chairman Fersen Lamas Lambranho, who was CEO of Lojas Americanas, a digital platform for consumer brands, and Co-Chairman Irwin Simon, who founded The Hain Celestial Group, which became a leading organic and natural products company.

The SPAC had planned to list on the Nasdaq with Cantor and Citigroup serving as joint book-running managers, and Nomura nd TD Securities acting as co-managers. Read more.

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