Forum Merger III, the third blank check company formed by SPAC veterans David Boris and Marshall Kiev, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a redeemable warrant, exercisable at $11.50. Last week the company upped its warrant offering from one-fourth warrants to one-third warrants.
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The company is led by co-CEOs Marshall Kiev and David Boris.
The pair's previous SPACs include Forum Merger II (FMCI; +63% from $10 offer price), which went public in August 2018 and recently entered into an agreement to acquire vegetarian food company Ittella International. The original Forum Merger went public in April 2017 and merged with IT services provider ConvergeOne (CVON) in February 2018, which was acquired by CVC Capital Partners in January 2019 for $12.50 per share.
Forum Merger III plans to list on the Nasdaq under the symbol FIIIU. Jefferies acted as lead manager on the deal.
