10X Capital Venture Acquisition III in an 8-K filing disclosed it has entered into a non-binding letter of intent for a proposed business combination with Sparks Energy. Sparks provides storm response and energy restoration management with qualified crews for overhead/underground distribution, transmission, substation and row operations.
The SPAC raised $261 million in a January IPO to focus on identifying high growth technology and tech-enabled businesses domestically and abroad.
The filing did not mention a timeline for when a definitive agreement might be announced. Read more.
