CF Finance III CFACU = 1C + 1/3W
1W + $11.50. Call $18.
Term = 6 months. Option to extend to 4x for 4 months, up to 22 months. ($0.10 added per extension).
- Our public stockholders will not be afforded an opportunity to vote on our extension of time to consummate an initial business combination from 6 months to up to 22 months described above or redeem their shares in connection with such extensions.
Trust = $10.00. $200.0 million or $230.0 million if the underwriters’ over-allotment option is exercised in full ($10.00 per unit) will be deposited into a US trust @ J.P. Morgan Chase Bank, with Continental Stock Transfer & Trust Company as trustee.
- in order for the time available for us to consummate our initial business combination to be extended, our sponsor or its affiliates or designees, upon five days advance notice prior to the applicable deadline, must deposit into the trust account $2,000,000, or $2,300,000 if the underwriters’ over-allotment option is exercised in full ($0.10 per unit in either case, up to an aggregate of $8,000,000 or $9,200,000 if the underwriters’ over-allotment option is exercised in full) on or prior to the date of the applicable deadline, for each 4 month extension.
CANTOR
NEW YORK, Nov. 17, 2020 /PRNewswire/ -- CF Finance Acquisition Corp. III (Nasdaq: CFACU, the "Company") announced today that it closed its initial public offering of 23,000,000 units (including 3,000,000 units sold upon exercise of the underwriters' over-allotment option in full) at $10.00 per unit, resulting in gross proceeds of $230,000,000. The units began trading on the Nasdaq Capital Market ("Nasdaq") under the symbol "CFACU" on November 13, 2020. Each unit consists of one share of Class A common stock and one-third of one warrant. Each whole warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NASDAQ under the symbols "CFAC" and "CFACW," respectively.
While we may pursue an acquisition opportunity in any business, industry, sector or geographical location, we intend to focus on industries that complement our management team’s background, and to capitalize on the ability of our officers and directors to identify and acquire a business or businesses consistent with the experience of our management team and affiliates of our sponsor. We therefore intend to focus on potential target companies in the financial services, healthcare, real estate services, technology and software industries. Within the universe of potential targets set forth above, an important focus for us will be the following: