Apollo Strategic Growth Capital III in an amended S-1 filing disclosed it now plans to offer 35 million units at $10 each, down from the 40 million units initially registered with the SEC in March.
A unit now consists of one share and a third of a warrant, up from one-fourth of a warrant as registered in the initial filing.
The SPAC has not listed specific sectors it may target, saying in the filing it will leverage management’s experience to find a suitable business combination. However, Apollo III has ruled out an acquisition in the natural resources, infrastructure or energy industries.
Apollo III is led by CEO Sanjay Patel, chairman international and senior partner of private equity of Apollo. He was formerly head of Europe and managing partner of Apollo European Principal Finance.
Credit Suisse, Apollo Global Securities, BofA Securities, Goldman Sachs, and RBC are joint book-runners on the deal.
The SPAC intends to apply for a listing on the NYSE under APGC.U. Read more.
