Bleichroeder Acquisition Corp. III (BCCQW) Warrant
Each BCCQW warrant gives the holder the right to buy 1 share of Bleichroeder Acquisition Corp. III at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.94, below the strike, so the warrant is out of the money. Bleichroeder Acquisition Corp. III has a market value of about $457.24M. Bleichroeder Acquisition Corp. III is a SPAC (deal signed with Ursa Major (via Inflection Point Mach X Bleichroeder Corp.)). It must complete a deal by July 8, 2028 or the warrants expire worthless. There are 8.62M listed warrants; exercising all of them would add 18.8% to the 46.00M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $12.35
From the issuer's 8-K (2026-07-08).
Company and stock
- Company
- Bleichroeder Acquisition Corp. III
- Underlying stock
- BCCQ
- Share price
- $9.94
- Market cap
- $457.24M
- Shares outstanding
- 46.00M
- Range since Aug 2026
- $9.85 – $10.06
- Change since Aug 2026
- +0%
- Value of all listed warrants
- $7.33M (1.6% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- New York, NY
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.8500
- Price / model
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Dilution
- Shares outstanding
- 46.00M
- Listed warrants
- 8.62M
- Dilution if all exercised
- 18.8%
Warrant count from filing notes, read by hand (high): Public Warrants (one-fourth warrant per Unit).
SPAC deal
- Status
- deal signed
- Target
- Ursa Major (via Inflection Point Mach X Bleichroeder Corp.)
- Deal announced
- 2026-08-24
- Deadline
- 2028-07-08
- Latest possible deadline
- —
- Trust per share
- $10.20
- Sponsor
- Bleichroeder Sponsor 3 LLC
- Sponsor's earlier SPACs
- 2 (2 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about BCCQW
When does the BCCQW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of BCCQW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many BCCQW warrants are outstanding?
8.62M listed warrants, equal to 18.8% dilution if all are exercised.
Related warrants
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