Stellar Acquisition III Inc. Units
STLRU
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- Stellar Acquisition III Inc. Units (STLRU) represents the redeemable units of Stellar Acquisition III Inc., a blank check company, or special purpose acquisition company (SPAC), formed to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or similar business combination with one or more businesses or entities. The company offers no operational products or services prior to completing its initial business combination, instead holding substantially all of its net proceeds from its initial public offering, completed on August 19, 2016 raising approximately $69 million, in a trust account for deployment upon identifying and combining with a target business. Stellar Acquisition III Inc. originally focused its search on the international energy logistics industry, targeting businesses supporting the movement of energy products such as crude oil, natural gas, liquefied petroleum gas and petrochemicals from production to consumption, though its efforts were not limited to a specific industry or geography. Headquartered at 90 Kifisias Avenue, Marousi 15125, Athens, Greece, the company was formed in 2016 under the laws of the Republic of the Marshall Islands with co-CEOs Prokopios Tsirigakis and George Syllantavos leading operations. Its units, comprising one share of Class A common stock and one warrant, trade on the Nasdaq Capital Market; however, the company has been marked as potentially delisted with low trading volume as of late 2025. In its most significant development, Stellar Acquisition III Inc. announced a definitive merger agreement with Phunware Inc. on February 28, 2018, valuing Phunware at a $301 million enterprise value and targeting entry into mobile cloud software and blockchain sectors. Shareholders approved the transaction on November 30, 2018, culminating in the business combination's closing on December 26, 2018, which included redomiciling to Delaware, renaming the successor entity Phunware, Inc. (NASDAQ: PHUN), and shifting headquarters to Austin, Texas. No major partnerships, funding rounds, acquisitions or product launches have been reported for Stellar Acquisition III Inc. itself in the last 1-2 years, with STLRU units persisting as legacy securities post-merger.