IPOs

Victory Park Capital's SPAC VPC Impact Acquisition III files for a $225 million IPO

VPC Impact Acquisition III, the fourth blank check company formed by Victory Park Capital to acquire a fintech business, filed on Friday with the SEC to raise up to $225 million in an initial public offering.

The Chicago, IL-based company plans to raise $225 million by offering 22.5 million units at a price of $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, VPC Impact Acquisition III would command a market value of $281 million.

The company is led by Co-CEO and Director Brendan Carroll, co-founder and Senior Partner of Victory Park Capital (VPC), and Co-CEO Gordon Watson, a Partner at VPC. They are joined by CFO Carly Altieri, who is VPC's Fund Controller, and Chairman John Martin, who is a Senior Partner at VPC. The firm's other SPACs include VPC Impact Acquisition II (VIHBU), which filed to raise $225 million earlier this month; L&F Acquisition (LNFA.U; +7% from $10 offer price), which raised $150 million in November, and VPC Impact Acquisition (VIHA; +83%), which raised $200 million in September and has a pending merger agreement with cryptocurrency exchange Bakkt. 

VPC Impact Acquisition III intends to concentrate on high-growth businesses in the fintech industry headquartered in the US or with operations in the US and enterprise values between $800 million and $3 billion.

The Chicago, IL-based company was founded in 2021 and plans to list on the NYSE under the symbol VPCCU. Citi and Jefferies are the joint bookrunners on the deal.

The article Victory Park Capital's SPAC VPC Impact Acquisition III files for a $225 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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