CC Neuberger Principal Holdings III announced the pricing of its initial public offering of 35,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol "PRPC.U" beginning February 3, 2021. Each unit consists of one Class A ordinary share of the Company and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on the New York Stock Exchange under the symbols "PRPC" and "PRPC WS," respectively.

CC Neuberger Principal Holdings III, led by Chinh E. Chu, Matthew Skurbe, Douglas Newton, Jason K. Giordano, Charles Kantor and other senior professionals of CC Capital and Neuberger Berman, is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Citigroup and Evercore ISI are acting as joint book-running managers for the offering and Houlihan Lokey, Natixis, Nomura, Rothschild & Co, Loop Capital Markets and Academy Securities are acting as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,250,000 units at the initial public offering price to cover over-allotments, if any.