Key Highlights

  • Osprey Acquisition Corp. III secured $300.15 million in gross proceeds from its IPO, selling 30,015,000 units at $10.00 each.
  • Each unit includes one Class A ordinary share (par value $0.0001) and one‑third of a warrant, exercisable at $11.50 per share.
  • Underwriters exercised a full 45‑day option to purchase an additional 3,915,000 units, avoiding sponsor share forfeiture.
  • A private placement raised $7.47 million, with Cantor and the sponsor acquiring 747,000 units at $10.00 each.

IPO Launch Details

Osprey Acquisition Corp. The transaction generated gross proceeds of $300,150,000, which were placed into a trust account for the benefit of public shareholders.

Unit Composition

Every unit delivered to investors comprises a Class A ordinary share, recorded with a nominal par value of $0.0001, and a fractional warrant representing one‑third of a full warrant. This combination provides both immediate equity participation and the potential for future share purchases.

Warrant Exercise Terms

The warrants attached to the units grant holders the right to acquire one Class A ordinary share at an exercise price of $11.50 per share. This price applies uniformly to warrants issued in both the IPO and the accompanying private placement.

Underwriter Option Exercise

The underwriting agreement included a 45‑day option allowing the underwriters to buy additional units to cover any overallotments. The underwriters fully exercised this option, purchasing 3,915,000 extra units. This action maintained the intended capital structure without requiring the sponsor to surrender any of its allocated shares.

Private Placement Summary

In parallel with the public offering, Osprey Acquisition Corp. III conducted a private placement at the same $10.00 per unit price. The private placement raised $7,470,000 from the sale of 747,000 units.

No underwriting discounts or commissions were taken from this private transaction.

Trust Account and Use of Funds

All $300,150,000 raised, inclusive of $12,789,000 set aside for deferred underwriting discounts, were deposited into a trust account. Withdrawals from the trust are limited to $250,000 per year for working‑capital needs, with an overall cap of $500,000. Interest earned on the trust may be applied toward tax obligations, up to $100,000, or toward dissolution expenses if the SPAC does not consummate a business combination within the stipulated period.

Indemnification Documentation

The company filed an indemnity agreement covering its directors and officers, which is referenced.

Market Context

Special‑purpose acquisition companies (SPACs) like Osprey Acquisition Corp. III use the capital raised in an IPO to seek a suitable merger or acquisition target within a defined timeframe. The combination of unit structure, warrant rights, and a protected trust account is designed to align the interests of sponsors, underwriters, and public investors while providing flexibility to fund a future business combination.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.