DD3 Acquisition III, the third blank check company formed by DD3 Capital Partners, withdrew its plans for an initial public offering on Tuesday. It had filed in March 2021 to raise $150 million by offering 15 million units at $10, with each unit containing one share of common stock and one-third of a warrant.
The company was set to be led by CEO and Chairman Martin Werner, co-founder and Partner of financial advisory firm DD3 Capital Partners. DD3 Capital Partners' previous SPACs include DD3 Acquisition II, which merged with casino business Codere Online (CDRO; -70% from $10 offer price) in November 2021, and DD3 Acquisition, which merged with Betterware de Mexico (Nasdaq: BWMX; -16%) in March 2020.
The Mexico City, Mexico-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol DIIIU. Morgan Stanley was set to be the sole bookrunner on the deal.
