Plum Acquisition Corp. III
PLMJ
NASDAQ Capital Market11.00
USD
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Plum Acquisition Corp. III
PLMJ
(NASDAQ Capital Market)
Recent
price
11.00
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div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Plum Acquisition Corp. III (Nasdaq: PLMJ) operates as a blank check company whose purpose is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company has no significant current operations or revenues and focuses on identifying and acquiring technology-enabled or technology sector targets that address market needs through software or innovative business models; it maintains a trust account holding IPO proceeds for potential de-SPAC transactions. Incorporated in the Cayman Islands and headquartered in San Francisco, California, Plum Acquisition Corp. III went public via IPO in July 2021, raising approximately $282.5 million, with Citigroup as lead underwriter. In August 2024, the company announced a definitive business combination agreement valued at around $589-593.5 million with Tactical Resources Corp., a Vancouver-based mineral exploration firm developing the Peak Project, a U.S. rare earths asset in West Texas featuring direct-to-leach hard rock deposits and existing operational permits. The SEC declared the related Form F-4 registration statement effective on December 1, 2025, advancing the transaction toward shareholder votes scheduled for December 16, 2025 (Tactical Resources) and December 22, 2025 (Plum), with the combined entity expected to list on Nasdaq under the name Tactical Resources Corp. To facilitate the deal, shareholders approved charter amendments in January 2025 extending the business combination deadline to July 30, 2025, and removing the $5 million net tangible assets requirement. Previously known as Alpha Partners Technology Merger Corp., Plum Acquisition Corp. III targets global opportunities, particularly in North America, with the pending Tactical Resources merger representing a strategic shift into the materials and critical minerals sector. The management team, led by Chairman and CEO Kanishka Roy, leverages operational experience from technology companies and a proprietary playbook for public market growth. Post-merger, the combined company aims to accelerate development of U.S.-focused rare earths production to support North America's critical minerals supply chain.