3 SPACs Go Public After Raising $525M Combined

By Elise Hansen (January 5, 2021, 7:12 PM EST) -- Two technology-focused special purpose acquisition companies and one backed by Fortress Investment Group began trading Tuesday after raising a combined $525 million in initial public offerings.

Crucible Acquisition Corp.'s and Fortress Value Acquisition Corp. III's units started trading on the New York Stock Exchange, while Benessere Capital Acquisition Corp.'s units started trading on the Nasdaq Capital Market. Crucible raised $225 million in an upsized offering; Fortress III raised $200 million; and Benessere raised $100 million.

All three companies priced their units at $10 apiece, as is typical for SPACs, with each offering their underwriters an over-allotment option that could raise additional...

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