NAPLES, Fla., Aug. 12, 2021 /PRNewswire/ -- Conyers Park III
Acquisition Corp. (NASDAQ: CPAAU) (the "Company"), a special
purpose acquisition company formed for the purpose of entering into
a combination with one or more businesses, today announced the
closing of its initial public offering of 35,000,000 units at a
price of $10.00 per share. Total
gross proceeds from the offering were $350,000,000 before deducting underwriting
discounts and commissions and other offering expenses payable by
the Company.
The Company's units began trading on the Nasdaq Capital Market
under the ticker symbol "CPAAU" on August
10, 2021. Each unit consists of one share of Class A common
stock of the Company and one-third of one warrant. Each whole
warrant entitles the holder thereof to purchase one share of Class
A common stock of the Company at a price of $11.50 per share. Once the securities comprising
the units begin separate trading, the shares of Class A common
stock and warrants are expected to be listed on the Nasdaq Capital
Market under the symbols "CPAA" and "CPAAW," respectively.
The Company's management team is led by James M. Kilts and David
J. West, as the Co-Chief Executive Officers, Brian K. Ratzan, as the Chief Financial Officer,
and Max Papkov, as the Vice
President of Strategy. Mr. Kilts' and Mr. West's careers have
centered on identifying and implementing value creation initiatives
throughout the consumer industry. They have collectively created
approximately $50 billion in
shareholder value throughout their combined 75+ year careers in the
consumer industry. Mr. Ratzan and Mr. Papkov collectively bring
over 35 years of private equity and SPAC investing experience. The
deep operating experience of Mr. Kilts and Mr. West complements Mr.
Ratzan's and Mr. Papkov's financial and transactional expertise to
create a unique team capable of identifying attractive investments
and executing deals in the consumer sector. The Company's website
is www.conyers-park.com.
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and
J.P. Morgan Securities LLC served as the underwriters for the
offering. The Company has granted the underwriters a 45-day option
to purchase up to an additional 5,250,000 units at the initial
public offering price to cover over-allotments, if any.
The offering was made only by means of a prospectus. Copies of
the final prospectus related to the offering may be obtained from
Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall
Street, New York, New York 10005,
telephone: 800-503-4611 or email: prospectus.cpdg@db.com; Goldman
Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street,
New York, New York 10282,
telephone: 212-902-1171 or email: prospectus-ny@ny.email.gs.com; or
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717, telephone: 866-803-9204 or email:
prospectus-eq_fi@jpmchase.com.
A registration statement relating to the securities became
effective on August 9, 2021 in
accordance with Section 8(a) of the Securities Act of 1933, as
amended. 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.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
anticipated use of the net proceeds. 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
Securities and Exchange Commission ("SEC"). Copies 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.
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SOURCE Conyers Park III Acquisition Corp.