Horizon Acquisition III, a blank check company formed by Todd Boehly of Eldridge Industries, withdrew its plans for an initial public offering on Tuesday. It had filed in March 2021 to raise $500 million by offering 50 million units at $10, with each unit containing one share of common stock and one-fourth of a warrant.
The company is led by CEO, CFO, and Director Todd Boehly. Boehly is the co-founder and CEO of Eldridge Industries, a holding company with a network of businesses across finance, technology, real estate, and entertainment. Prior to founding Eldridge, he was President of Guggenheim Partners.
Boehly's previous SPACs include October 2020 IPO Horizon Acquisition II (HZON.U) and August 2020 IPO Horizon Acquisition, which merged with digital ticketing marketplace Vivid Seats (SEAT) in October 2021.
The Greenwich, CT-based company was founded in 2020 and had planned to list on the NYSE under the symbol HZNA.U. Deutsche Bank, Credit Suisse, and RBC Capital Markets were set to be the joint bookrunners on the deal.
