CC Neuberger Principal Holdings
PRPC-WT
New York Stock Exchange0.18
USD
+0.00
- -
CIK
0001821329
Return %
Stock
S&P500
1Y
-0.89
18.21
3Y
-0.89
63.29
5Y
-0.89
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001821329
- Similar Companies
- Business
- CC Neuberger Principal Holdings III (PRPC) operates as a blank check company, or special purpose acquisition company (SPAC), whose sole purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more unidentified target businesses; it conducts no significant operations and generates no revenue prior to completing such a transaction. Founded in 2020 and headquartered at 200 Park Avenue, 58th Floor, New York, New York, the company raised gross proceeds of $402.5 million through its initial public offering of 40.25 million units in February 2021, with each unit comprising one Class A ordinary share and one-fifth of one redeemable warrant (trading separately as PRPC and PRPC.WS, respectively; PRPC-WT represents the warrants). The warrants entitle holders to purchase one Class A ordinary share at an exercise price of $11.50 per share, subject to adjustment, with expiration 10 years post-business combination or earlier upon redemption or liquidation, and exercisable only for whole shares after separation from units. Without industry or geographic restrictions for its target, CC Neuberger Principal Holdings III focuses on businesses exhibiting compelling long-term growth potential, attractive competitive dynamics, consolidation opportunities, and low technological obsolescence risk. Led by CEO Chinh E. Chu and senior professionals from CC Capital and Neuberger Berman, the company maintains a sponsor entity, CC Neuberger Principal Holdings III Sponsor LLC, which holds private placement warrants. In a major development, the board elected on November 7, 2023, against further deadline extensions for a business combination, electing liquidation; trading in shares and units was suspended on November 8, 2023, with shareholders receiving approximately $10.93 to $10.95 per share in redemption distributions, ceasing all operations thereafter. No merger, acquisition, partnership, funding round, or other strategic activity materialized in the prior 1-2 years, distinguishing it from related entities like CC Neuberger Principal Holdings I (combined with e2open) and II (combined with Getty Images).