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DJ Hudson Executive Investment Corp. III Files for $500M IPO

· 02/04/2021 18:52
By Stephen Nakrosis

Hudson Executive Investment Corp. III filed for an initial public offering with the Securities and Exchange Commission on Thursday.

The company said it was co-founded by Hudson Executive Capital, Douglas L. Braunstein, its president and chairman, and Douglas G. Bergeron, its chief executive.

Mr. Braunstein and Mr. Bergeron are co-founders of special purpose acquisition companies Hudson Executive Investment Corp. and Hudson Executive Investment Corp. II, the company said. "Mr. Braunstein is the founder and a managing partner of Hudson Executive Capital and Mr. Bergeron is a managing partner."

Hudson Executive Investment Corp. III said it planned to offer 50 million units at $10 per unit. Each unit will consist of a share of Class A common stock and one-fifth of a warrant. Each whole warrant allows the holder to buy a share of Class A common stock for $11.50.

The company said its sponsor, HEC Sponsor III LLC, committed to but up to 9 million warrants for $1.50 each in a private placement.

The company said it intended to focus its search for an initial business combination "on a range of potential opportunities, including technology-driven, disruptive companies with desirable growth-oriented characteristics as well as on more mature businesses with attractive cash flow characteristics and long-term, sustainable growth profiles."

The company will apply to list its units on The Nasdaq Capital Market under the symbol HIIIU.

Citigroup, J.P. Morgan and Barclays are listed as the offering's joint book-running managers.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 04, 2021 18:52 ET (23:52 GMT)

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