TortoiseEcofin Acquisition Corp. III Announces Closing of $300,000,000 Initial Public Offering
July 22 2021 - 4:01PM
TortoiseEcofin Acquisition Corp. III (the “Company”) today
announced the closing of its initial public offering of 30,000,000
units at a price of $10.00 per unit. The Company granted the
underwriters a 45-day option to purchase up to 4,500,000 additional
units to cover over-allotments, if any. The units are listed on the
New York Stock Exchange (the “NYSE”) and trade under the ticker
symbol “TRTL.U.” Each unit consists of one of the Company’s Class A
ordinary shares and one-fourth of one redeemable warrant, with each
whole warrant entitling the holder thereof to purchase one of the
Company’s Class A ordinary shares at an exercise price of $11.50
per share. Once the securities comprising the units begin separate
trading, which is expected to be on the 52nd day following the date
of the final prospectus relating to the offering, the Class A
ordinary shares and warrants are expected to be listed on the NYSE
under the symbols “TRTL” and “TRTL WS,” respectively.
Barclays, Goldman Sachs & Co. LLC and Cantor
Fitzgerald & Co. acted as joint book-runners for the offering.
Academy Securities, Inc. acted as co-manager for the offering.
The public offering was made only by means of a
prospectus. Copies of the prospectus may be obtained from Barclays,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, email: barclaysprospectus@broadridge.com,
tel: (888) 603-5847; Goldman Sachs & Co. LLC, Attn: Prospectus
Department, 200 West Street, New York, New York 10282, email:
prospectus-ny@ny.email.gs.com, tel: (866) 471-2526; and Cantor
Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 5th
Floor, New York, New York 10022, email: prospectus@cantor.co.
A registration statement relating to these
securities has been declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on July 19, 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.
ABOUT TORTOISEECOFIN ACQUISITION CORP.
III
TortoiseEcofin Acquisition Corp. III was formed
for the purpose of effecting a merger, amalgamation, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination. The Company intends to focus its
search for a target business in the broad energy transition or
sustainability arena targeting industries that provide or require
innovative solutions to decarbonize in order to meet critical
emission reduction objectives.
FORWARD-LOOKING STATEMENTS
This press release contains statements that
constitute “forward-looking statements.” 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
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.
Contacts
TortoiseEcofin Acquisition Corp. IIIVincent T.
CubbageVCubbage@tortoiseecofin.com
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