Capitol Acquisition III, a blank check company formed and led by Mark Ein, raised $300 million by offering 30 million units at $10. It originally planned to offer 35 million units and raise $350 million.
Sponsors Mark Ein and Dyson Dryden have worked together in two SPACs prior to this. Capitol Acquisition I raised $250 million in November 2007 and completed its business combination with RMBS investment firm Two Harbors Investments (NYSE: TWO) in 2009. Capitol Acquisition II raised $180 million in May 2013 and acquired eco-tourism group Lindblad Expeditions (Nasdaq: LIND) in July 2015.
Capitol Acquisition III plans to list on the Nasdaq under the symbol CLACU. Citi, Deutsche Bank and Credit Suisse acted as lead managers on the deal.
