NEW YORK–(COMMERCIAL THREAD) – Northern Star Investment Corp. III (the “Company”) announced today that it has priced its initial public offering of 35,000,000 Units at $ 10.00 per Unit. The Units will be listed on the New York Stock Exchange (“NYSE”) and will begin trading tomorrow, Tuesday, March 2, 2021, under the ticker symbol “NSTC.U”. Each unit consists of one Class A common share of the Company and one sixth of a redeemable warrant, each whole warrant authorizing its holder to purchase one Class A common share at a price of 11.50 $ per share, subject to adjustment. Only whole warrants may be exercised and will be traded. Once the securities comprising the Units begin to trade separately, the Class A common shares and the redeemable warrants are expected to be listed on the NYSE under the symbols “NSTC” and “NSTC WS”, respectively.
Northern Star Investment Corp. III is a blank check company formed for the purpose of carrying out a merger, a capital stock exchange, an acquisition of assets, a purchase of shares, a reorganization or a similar business combination with one or more companies or entities. While the Company may pursue an acquisition in any industry or industry, it intends to focus its efforts on identifying businesses primarily in direct-to-consumer and digitally disruptive e-commerce spaces. The company is led by Joanna Coles, President and Chief Executive Officer, and Jonathan Ledecky, President and Chief Operating Officer.
Citigroup Global Markets Inc. is acting as the sole book manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to 5,250,000 additional units at the initial public offering price to cover over-allotments, if any.
The offer is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Citigroup Global Markets Inc., c / o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-800-831-9146.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission (“SEC”) and came into effect on March 1, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to purchase, nor will there be any sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of that state or jurisdiction.
This press release contains statements that constitute “forward-looking statements”, including with respect to the proposed initial public offering and the intended use of the net proceeds. No guarantee can be given that the offer discussed above will be carried out under the conditions described, or not at all, or that the net proceeds of the offer 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 out in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the Company. DRY. Copies are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.