Conyers Park III Acquisition, the third blank check company led by consumer industry veterans from Centerview Capital, filed on Tuesday with the SEC to raise up to $350 million in an initial public offering.
The Naples, FL-based company plans to raise $350 million by offering 35 million units at a price of $10. There it would command a market value of $438 million. Each unit consists of one share of common stock and one-fifth of a warrant exercisable at $11.50 per share.
The company is led by three partners at the SPAC's sponsor, Centerview Capital: Co-CEO James Kilts, co-CEO and Chairman David West, and CFO and Director Brian Ratzan. Kilts founded Centerview Capital Consumer in 2006, after serving as CEO of Gillette and Nabisco. West had experience serving as CEO of Big Heart Pet Brands and Hershey. Ratzan previously held senior roles at Pamplona Capital and Vestar.
The three men were behind Centerview's previous SPACs, which merged with Advantage Solutions (ADV) in 2020 and Simply Good Foods (SMPL) in 2017.
The SPAC was founded in 2021 and plans to list on the Nasdaq under the symbol CPAAU. Conyers Park III Acquisition filed confidentially on May 18, 2021. Deutsche Bank, Goldman Sachs, and J.P. Morgan are the joint bookrunners on the deal.
