CC Neuberger Principal Holdings III has filed paperwork with the SEC in order to secure public funding for a business acquisition. Furthermore, this deal registers 40.25 million units of securities to trade on the NYSE under the ticker symbol PRPC.U. However, this figure includes 5.25 million units issuable to the underwriters in order to cover over-allotments, if any.
If there are no over-allotments, then this figure goes down to 35 million units. Moreover, each unit has a proposed maximum offering price of $10. This puts the proposed maximum aggregate offering price somewhere between $350 million to $402.5 million depending upon the extent to which the underwriters exercise their over-allotment options, if at all.
Each unit of security consists of one Class A …