PHILADELPHIE, PA, December 22, 2020 (GLOBE NEWSWIRE) – Cohen & Company Inc. (NYSE American: COHN) and INSU Acquisition Corp. III (NASDAQ: IIIIU) today announced that INSU Acquisition Corp. III (the “Company”), a blank check company sponsored by Cohen & Company and formed for the purpose of acquiring or merging with one or more companies or entities in the insurance industry, has completed its initial public offering to the savings of 25,000,000 units at a price of $ 10.00 per unit, which includes 3,200,000 units issued following the exercise of the underwriters’ over-allotment option, for gross proceeds accruing to to the Company of $ 250,000,000. The Company’s units began trading on the Nasdaq Capital Market under the symbol “IIIIU” on December 18, 2020. Each unit issued under the offer consists of one class A common share of the Company and one-third of a warrant, each whole exercisable warrant for one Class A common share at an exercise price of $ 11.50 per share. Once the securities comprising the Units begin to trade separately, the Class A Common Shares and Warrants are expected to be listed on the Nasdaq under the symbols “IIII” and “IIIIW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will be traded.
Cantor Fitzgerald & Co. and Wells Fargo Securities acted as co-book managers for the offer.
A registration statement relating to the Units and the underlying securities was declared effective by the Securities and Exchange Commission on December 17, 2020. This press release does not constitute an offer to sell or the solicitation of an offer to buy , and there will be no sale of such securities in any state or jurisdiction in which such offering, solicitation or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.
The offer was made by means of a prospectus, copies of which can be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor, New York, New York 10022; E-mail: [email protected]; or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or by sending an email request to [email protected]. Copies of the registration statement can be viewed free of charge on the SEC’s website at www.sec.gov.
This press release contains statements that constitute “forward-looking statements”, in particular with respect to the initial public offering. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set out in the Risk Factors section of the Company’s registration statement and prospectus for the offer filed with the Securities. and Exchange Commission. The Company assumes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
About Cohen & Company
Cohen & Company is a financial services company specializing in bond markets. It was founded in 1999 as an investment firm focused on small cap banking institutions, but has grown to provide a growing range of capital markets and asset management services. Cohen & Company’s operating segments are Capital Markets, Asset Management and Principal Investing. The Capital Markets segment comprises the sale of fixed income securities, the trading and financing of matched book repos, as well as new issue placements in corporate and securitized products, and advisory services, operating primarily through through subsidiaries of Cohen & Company, JVB Financial Group, LLC in the United States. and Cohen & Company Financial (Europe) Limited in Europe. The Asset Management segment manages assets through secured debt instruments, managed accounts and investment funds. As of September 30, 2020, the Company managed approximately $ 2.7 billion in fixed income assets across various asset classes, including US and European trust preferred securities, subordinated debt and corporate loans. As at September 30, 2020, 77.4% of the Company’s assets under management were secured debt securities that Cohen & Company manages, all of which were securitized prior to 2008. The core investments segment primarily includes investments that the Company holds in as part of its after-sales service. franchise and other investments that the Company has made for the purpose of generating a return on investment rather than investments made to support its trading, matched book repurchase or other business activities in the capital markets. For more information, please visit www.cohenandcompany.com.
Cohen & Company, LLC
Joseph W. Pooler, Jr.
Cohen & Company Inc.
investor [email protected]