10X Capital Venture Acquisition Corp. III
VCXB-UN
New York Stock Exchange11.02
USD
-0.41
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10X Capital Venture Acquisition Corp. III
VCXB-UN
(New York Stock Exchange)
Recent
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11.02
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- 10X Capital Venture Acquisition Corp. III (NYSE American: VCXB-UN, VCXB, VCXB WS) is a blank check company sponsored by 10X Capital that focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more high-growth technology and tech-enabled businesses domestically and abroad. The company targets sectors including consumer internet; e-commerce; software; healthcare; transportation/mobility; financial services; and industries disrupted by advances in technology paradigms such as artificial intelligence, automation, data science, e-commerce, and Software-as-a-Service. Incorporated in 2021 and headquartered at 1 World Trade Center, 85th Floor, New York, New York, it raised $300 million in gross proceeds from its upsized initial public offering of 30 million units in January 2022, underwritten by Cantor Fitzgerald & Co. In August 2023, the company entered into a merger agreement with American Gene Technologies International Inc. (AGT) valued at up to $500 million pro forma enterprise value, including a non-binding $50 million committed equity facility from Cantor Fitzgerald affiliate CF Principal Investments and up to $300 million in earnouts tied to clinical and price-based milestones; the post-combination entity was to be renamed Addimmune Inc. and trade under ticker HIV, with AGT's non-HIV assets spinning off prior to closing, subject to shareholder approval, regulatory clearances, and other conditions, with an initial target close in Q1 2024. Previously in December 2022, it announced a $475 million merger with Sparks Energy, Inc., a power infrastructure recovery services provider, expected to trade as SPKS, but Sparks later terminated the deal, prompting litigation from 10X III accusing Sparks of wrongly walking away. In January 2024, the company announced expected management changes pending board approval, with David Weisburd succeeding Hans Thomas as CEO, Osman Ahmed replacing Oliver Wriedt as President, and Thomas remaining Chairman; Weisburd serves as current CEO. The company transferred its listing from NYSE to NYSE American in October 2023 and faced delisting proceedings for its warrants (VCXB WS) in June 2024 due to low trading prices, with suspension effective immediately while shares and units continued trading. Its combination deadline was extended multiple times, including to July 14, 2024, and further to January 14, 2025 via shareholder vote postponed to July 12, 2024, but the units became defunct as of July 14, 2024 without a completed initial business combination. 10X Capital Venture Acquisition Corp. III is a subsidiary of 10X Capital SPAC Sponsor III LLC.