SPAC Twelve Seas Investment III files for a $150 million IPO, targeting global businesses ex-US
Twelve Seas Investment III, a blank check company, has filed with the SEC for a $150 million IPO, targeting global businesses outside the US. The Los Angeles-based firm plans to offer 15 million units at $10 each, with each unit comprising one share of common stock and a right to receive a fraction of a share upon a business combination. Led by CEO Dimitri Elkin, the SPAC aims to focus on profitable enterprises in sectors like oil and gas. It plans to list on Nasdaq under the symbol TWLVU, with Cohen & Company Securities as the bookrunner.
Twelve Seas Investment III, a blank check company targeting global companies located outside the US, filed on Monday with the SEC to raise up to $150 million in an initial public offering.
The Los Angeles, CA-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
Twelve Seas Investment III is led by CEO and Director Dimitri Elkin, a Founding Partner of Twelve Seas Limited. The SPAC plans to target global companies located outside the US, with an emphasis on established profitable enterprises in oil and gas and other sectors which management believes are proven.
Management's previous SPACs include Twelve Seas Investment II (TWLV), which liquidated in 2024, and Twelve Seas Investment, which completed its combination with Brooge Holdings (Nasdaq: BROG; -87% from $10 offer price) in 2019.
Twelve Seas Investment III was founded in 2024 and plans to list on the Nasdaq under the symbol TWLVU. The company filed confidentially on January 31, 2025. Cohen & Company Securities is the sole bookrunner on the deal.
