Kismet Acquisition Three Corp. Announces Closing of $287.5 Million Initial Public Offering
February 22 2021 - 4:32PM
Kismet Acquisition Three Corp. (Nasdaq: KIIIU) (the “Company”)
announced today that it closed its initial public offering of
28,750,000 units, which included the full exercise of the
underwriters’ option to purchase additional units. The offering was
priced at $10.00 per unit, generating total gross proceeds of
$287,500,000.
The units began trading on the Nasdaq Capital Market under the
ticker symbol “KIIIU” on February 18, 2021. Each unit consists of
one Class A ordinary share and one-third of one redeemable warrant.
Each whole warrant entitles the holder thereof to purchase one
Class A ordinary share at a price of $11.50 per share. Only whole
warrants are exercisable. Once the securities comprising the units
begin separate trading, the Class A ordinary shares and redeemable
warrants are expected to be listed on the Nasdaq Capital Market
under the symbols “KIII” and “KIIIW,” respectively.
The Company is a special purpose acquisition company (SPAC) led
by Chairman and Chief Executive Officer, Ivan Tavrin, formed for
the purpose of acquiring, engaging in a share exchange, share
reconstruction and amalgamation, contractual control arrangement
with, purchasing all or substantially all of the assets of, or
engaging in any other similar initial business combination with one
or more business entities. The Company may pursue an acquisition
opportunity in any industry or sector located in any region, but
intends to focus on businesses in the internet and technology
sectors primarily operating in Europe, including Russia.
Credit Suisse, Citigroup and BofA Securities acted as joint
book-running managers for the offering.
The public offering was made only by means of a prospectus.
Copies of the prospectus may be obtained from Credit Suisse, Attn:
Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC
27560, by telephone at 1-800-221-1037, or by email at
usa.prospectus@credit-suisse.com; or Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
by telephone at (800) 831-9146; or BofA Securities, NC1-004-03-43,
200 North College Street, 3rd floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department, or by email
at dg.prospectus_requests@bofa.com.
A registration statement relating to the securities has been
filed with the U.S. Securities and Exchange Commission (the “SEC”)
and became effective on February 17, 2021. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
anticipated use of the net proceeds of the public offering and with
respect to any business combination or acquisition opportunity. No
assurance can be given that the net proceeds of the offering will
be used as indicated. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s registration statement and prospectus for the
Company’s offering filed with the SEC. Copies of these documents
are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact: Kismet Acquisition Three Corp. +7
(499) 755-2134 info@kismetcg.com
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