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SPAC · Deal announced · TVA

Texas Ventures Acquisition III Corp

Business combination with Plus Automation, Inc.

Texas Ventures Acquisition III Corp (TVA) is a blank-check company (SPAC) that raised $200M in its initial public offering on Apr 23, 2025, listing on Nasdaq Global Market. It agreed to combine with Plus Automation, Inc., announced on Sep 3, 2026, at a stated value of $800M. The deal has not closed yet. Clear Street led the IPO. Ellenoff Grossman & Schole advised the SPAC and Loeb & Loeb advised the underwriters on the IPO.

Plus Automation, operating as PlusAI, develops AI-based virtual driver software for factory-built autonomous trucks. Headquartered in Silicon Valley with operations in the United States and Europe, it works with commercial vehicle makers and partners including Scania, MAN, International, Hyundai, Iveco and NVIDIA.

Status
Deal announced
Ticker
TVA
IPO date
Apr 23, 2025
IPO size
$200M
IPO exchange
Nasdaq Global Market
Target
Plus Automation, Inc. (PlusAI)
Target sector
AI/Software
Announced
Sep 3, 2026
Stated deal value
$800M
Combined company
PlusAI (PXAI)
IPO underwriters
Clear Street
SPAC counsel (IPO)
Ellenoff Grossman & Schole and Ogier
Underwriters' counsel (IPO)
Loeb & Loeb

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