- Business
- Texas Ventures Acquisition III Corp is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses; its securities consist of units (TVACU) each comprising one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share, with separate trading of Class A ordinary shares (TVA) and warrants (TVACW); it focuses primarily on industrial technology targets, including companies implementing advanced technologies such as software, mobile and IoT applications, digital and energy transition solutions, logistics and transportation, cloud and cyber communications, high bandwidth services encompassing LTE, remote sensing and 5G into the industrial sector, prioritizing those offering significant value propositions like cost reductions, substantial ROI, decreased carbon footprint and enhanced safety, compliance and environmental protocols. Incorporated in the Cayman Islands in 2024 and headquartered at 5090 Richmond Ave, Suite 319, Houston, Texas, the company completed its initial public offering of 22.5 million units at $10.00 each in April 2025, raising $225 million including the partial exercise of the over-allotment option, with proceeds placed in trust and underwritten by Cohen & Company Capital Markets and Clear Street. In September 2025, Yorkville Acquisition Sponsor II LLC acquired control from the prior sponsor TV Partners III LLC for $7.4 million through the purchase of 7.5 million Class B founder shares and 4.7 million private placement warrants, resulting in the resignation of the prior board and management team led by CEO E. Scott Crist and CFO R. Greg Smith, their replacement by new directors and officers designated by the new sponsor, a change of control, termination of certain related party contracts and plans to rebrand as Yorkville Acquisition II, while public shareholders retained standard redemption rights. The company operates globally in pursuit of targets across any business, industry or geographic location but maintains its primary emphasis on U.S.-centric industrial tech opportunities; it generates no operating revenues pre-combination and employs a minimal team.