VPC Impact Acquisition III, the fourth blank check company formed by Victory Park Capital to acquire a fintech business, filed on Friday with the SEC to raise up to $225 million in an initial public offering.
The Chicago, IL-based company plans to raise $225 million by offering 22.5 million units at a price of $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, VPC Impact Acquisition III would command a market value of $281 million.
The company is led by Co-CEO and Director Brendan Carroll, co-founder and Senior Partner of Victory Park Capital (VPC), and Co-CEO Gordon Watson, a Partner at VPC. They are joined by CFO Carly Altieri, who is VPC's Fund Controller, and Chairman John Martin, who is a Senior Partner at VPC. The firm's other SPACs include VPC Impact Acquisition II (VIHBU), which filed to raise $225 million earlier this month; L&F Acquisition (LNFA.U; +7% from $10 offer price), which raised $150 million in November, and VPC Impact Acquisition (VIHA; +83%), which raised $200 million in September and has a pending merger agreement with cryptocurrency exchange Bakkt.
VPC Impact Acquisition III intends to concentrate on high-growth businesses in the fintech industry headquartered in the US or with operations in the US and enterprise values between $800 million and $3 billion.
The Chicago, IL-based company was founded in 2021 and plans to list on the NYSE under the symbol VPCCU. Citi and Jefferies are the joint bookrunners on the deal.
