10X Capital Venture Acquisition III, the third blank check company formed by 10X Capital targeting a tech-enabled business, raised $261 million by offering 26.1 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Hans Thomas, the founder and CEO of venture firm 10X Capital, and COO and Director David Weisburd, a General Partner and co-head of venture capital at 10X Capital.
The company plans to target high growth technology and tech-enabled businesses in the consumer internet, ecommerce, software, healthcare, transportation/mobility, and financial services industries, as well as other industries being disrupted by advances in technology including AI, automation, data science, ecommerce, and SaaS.
The firm's other SPACs include 10X Capital Venture Acquisition II (VCXAU) and 10X Capital Venture Acquisition, which completed a merger with EV platform REE Automotive (REE) in July 2021.
10X Capital Venture Acquisition III plans to list on the NYSE under the symbol VCXB.U. Cantor Fitzgerald acted as sole bookrunner on the deal.
