Altimar Acquisition III, the third blank check company formed by HPS Investment Partners, filed on Friday with the SEC to raise up to $125 million in an initial public offering.
The New York, NY-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Altimar Acquisition III would command a market value of $156 million.
The company is led by CEO and Chairman Tom Wasserman and CFO Wendy Lai, both of whom currently serve as Managing Directors at HPS Investment Partners. While it has not selected a target industry, the company plans to focus on two characteristics as a common theme: a strong organic growth plan coupled with a compelling business model that is materially cash generative at maturity.
HPS Investment Partners' other SPACs include Altimar Acquisition II (ATMRU), which filed to raise $300 million earlier this month, and Altimar Acquisition (ATAC; +6% from $10 offer price), which went public in October 2020 and has a pending merger agreement with Dyal Capital and Owl Rock Capital to form alternative asset manager Blue Owl at $12.5 billion market cap. HPS also co-founded and co-sponsored Trine Acquisition, which went public in March 2019 and completed its merger with Desktop Metal (DM; +141%) in December 2020.
Altimar Acquisition III was founded in 2021 and plans to list on the NYSE under the symbol ATAQU. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.
