CIIG Capital Partners III (NYSE: CPTK, warrant ticker CPTKW) is a blank-check special purpose acquisition company incorporated as a Cayman Islands entity that raised capital through an initial public offering to identify and complete a merger or acquisition with a target business. The company generates no operating revenue. Its IPO units began trading on the NYSE under 'CPTK.U' on February 11, 2021, with Class A ordinary shares and public warrants subsequently trading separately under 'CPTK' and 'CPTK.WS' before the warrants were delisted by the NYSE on November 18, 2022. As of the 10-K filed March 31, 2026 (fiscal year ended December 31, 2025), the company had not completed an initial business combination. It disclosed a proposed business combination with Mkango Resources entities, with Jett Capital engaged as financial advisor as of June 1, 2025. CIIG Management III LLC held 82.1% of Class B ordinary shares as of the filing date, and BlackRock, Inc. held 15.0% of total ordinary shares. The company had one executive officer and no full-time employees.

Revenue model

No operating revenue. The company holds IPO proceeds in trust and earns no revenue prior to completing an initial business combination. Expenses are funded through promissory notes, including a convertible note from former CEO Richard Chera with principal up to $1,000,000, amended most recently on February 10, 2026 (the Third A&R Note) to extend maturity to December 31, 2026.

Products and services

IPO units consisting of Class A ordinary shares and public warrants. Each whole public warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share, subject to adjustment per the final prospectus dated February 8, 2021. Warrants become exercisable 30 days after completion of an initial business combination and expire five years thereafter.

Customers and end markets

Public shareholders who participated in the NYSE IPO. No commercial customers or end markets, as the company has no operating business as of the 10-K filed March 31, 2026.

Value-chain role

SPAC sponsor vehicle seeking to acquire a controlling interest (50% or more of voting securities) in a target operating business. Structures acquisitions so the post-combination company owns 100% of target equity or assets where possible.

Geographic exposure

Incorporated in the Cayman Islands. Listed on the NYSE. Proposed business combination target includes Mkango Polska S.P.Z.O.O. (Poland) and Mkango ServiceCo UK Limited (United Kingdom) as disclosed in the 10-K filed March 31, 2026.

Source: SEC 10-K, filed 2026-03-31

Industry: Wholesale-Hardware