Osprey Acquisition Corp. III (OSPRW) Warrant
Each OSPRW warrant gives the holder the right to buy 1 share of Osprey Acquisition Corp. III at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.82, below the strike, so the warrant is out of the money. Osprey Acquisition Corp. III has a market value of about $402.78M. Osprey Acquisition Corp. III is a SPAC (no deal announced yet). It must complete a deal by July 2, 2028 or the warrants expire worthless. There are 10.01M listed warrants; exercising all of them would add 24.4% to the 41.02M 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
- $11.85
From the issuer's 8-K (2026-07-07).
Company and stock
- Company
- Osprey Acquisition Corp. III
- Underlying stock
- OSPR
- Share price
- $9.82
- Market cap
- $402.78M
- Shares outstanding
- 41.02M
- Range since Aug 2026
- $9.82 – $9.95
- Change since Aug 2026
- -1%
- Value of all listed warrants
- $3.50M (0.9% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Philadelphia, PA
- 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
- $0.3500
- Price / model
Pro will show whether OSPRW is cheap or rich against our model. It is not open yet. Leave your email to hear when it is.
Dilution
- Shares outstanding
- 41.02M
- Listed warrants
- 10.01M
- Dilution if all exercised
- 24.4%
Warrant count from filing notes, read by hand (high): Public Warrants (one-third warrant per unit).
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-07-02
- Latest possible deadline
- —
- Trust per share
- $10.20
- Sponsor
- Osprey Acquisition Sponsor III 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 OSPRW
When does the OSPRW 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 OSPRW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many OSPRW warrants are outstanding?
10.01M listed warrants, equal to 24.4% dilution if all are exercised.
Related warrants
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