Item 8.01. Other Events.
On August 2, 2021, Software Acquisition Group Inc. III, a Delaware corporation
(the "Company"), consummated its initial public offering (the "IPO") of
20,000,000 units (the "Units"). Each Unit consists of one share of Class A
common stock of the Company, par value $0.0001 per share ("Class A Common
Stock"), and one half of one redeemable warrant of the Company (each whole
warrant, a "Warrant"), with each whole Warrant entitling the holder thereof to
purchase one share of Class A Common Stock for $11.50 per share. The Units were
sold at a price of $10.00 per Unit, generating gross proceeds to the Company of
$200,000,000. The Company granted the underwriter in the IPO a 45-day option to
purchase up to 3,000,000 additional Units solely to cover over-allotments, if
any (the "Over-Allotment Option").
On August 2, 2021, simultaneously with the consummation of the IPO, the Company
completed the private sale (the "Private Placement") of an aggregate of
9,000,000 Warrants (the "Private Placement Warrants") to Software Acquisition
Holdings III LLC (the "Sponsor"), generating gross proceeds to the Company of
$9,000,000. Each of the Private Placement Warrants are exercisable to purchase
one share of Class A Common Stock at a price of $11.50 per share.
On August 2, 2021, a total of $203,000,000 representing the net proceeds from
the sale of the Units and the Private Placement Warrants was placed in a
U.S.-based trust account at Morgan Stanley, maintained by Continental Stock
Transfer & Trust Company, acting as trustee.
On August 4, 2021, the underwriter partially exercised the Over-Allotment Option
and purchased an additional 2,807,868 Units, which were sold at an offering
price of $10.00 per Unit, generating gross proceeds of $28,078,680.
Simultaneously with the exercise of the Over-Allotment Option, the Company sold
an additional 982,754 Private Placement Warrants to the Sponsor, generating
gross proceeds to the Company of $982,754. Following the closing of the
Over-Allotment Option, an aggregate amount of at least $231,499,860.20 has been
placed in the Company's trust account established in connection with the IPO.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are filed herewith:
Exhibit No. Description
99.1 Press Release, dated August 4, 2021.
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