By Stephen Nakrosis
Special purpose acquisition company, Thunder Bridge Capital Partners III, has made the decision to liquidate the company and redeem the shares of Class A common stock. This announcement comes after the board determined they would be unable to complete a business combination by the February 10, 2024 deadline.
The company plans to redeem the shares at approximately $10.22 each, providing investors with a fair return on their investment.
Thunder Bridge Capital Partners III had initially filed for a $300 million IPO in January 2021. At that time, their focus was on finding an initial business combination target within the financial services industry.
It is worth noting that Thunder Bridge Capital Partners IV, another blank check company, had members of their management team and advisors who were also involved with Thunder Bridge Capital Partners III.
In March 2022, Thunder Bridge Capital Partners IV entered into a business combination agreement to take Coincheck Group B.V. public. This demonstrates their dedication to finding new opportunities and further solidifying their presence in the market.