Altimar Acquisition III priced its IPO of 13.5 million units at $10 per unit — an upsize of 1 million more units than expected.
Units begin trading today on the NYSE under ATAQU. Each consists of one Class A ordinary share of the Company and one-fourth of one redeemable warrant, with whole warrants exercisable to purchase one Class A ordinary share at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under ATAQ and ATAQW, respectively.
Goldman Sachs and J.P. Morgan Securities are joint book-runners for the offering. The SPAC has granted the underwriters a 45-day option to purchase up to 2.025 million additional units at the IPO price to cover any over-allotments.
The offering is expected to close March 8.
“We intend to pursue companies that we believe are poised to experience strong growth and possess efficient business models that are or will be strong cash flow generators,” management said in the initial S-1 filing. The SPAC is led by executives of HPS Investment Partners. Read more.
