Capitol Acquisition Corp. III is a public investment vehicle formed for the purpose of effecting a merger, acquisition or similar business combination with an entity that has an operating business. Capitol III raised $325 million in its initial public offering on October 19, 2015 and is focusing its search on businesses that may provide significant opportunities for growth. These prospective target businesses will not be limited to a particular industry.
Capitol III plans to capitalize on the 24 years of private equity and venture capital investing experience and significant contacts of our Chairman and Chief Executive Officer, Mark D. Ein. In addition, L. Dyson Dryden, our President and Chief Financial Officer, brings over 15 years of investment banking and investing experience and together the team has raised two prior public acquisition vehicles, both of which have successfully completed transactions.
Capitol I created Two Harbors Investment Corp. (NYSE: “TWO”), a real estate investment trust, in October 2009. Two Harbors was established to capitalize on severe dislocation in the residential mortgage backed securities market post-crash and has grown into one of the preeminent franchises in the mortgage REIT industry. Two Harbors currently has a $3.9 billion market capitalization, including the spin-off of Silver Bay Realty Trust (NYSE: “SBY”), which was the first publicly-traded single-family housing REIT.
Capitol II completed its $439 million business combination with Lindblad Expeditions, Inc. (NASDAQ: “LIND”) in July 2015. Lindblad is a global leader in expedition cruising and extraordinary travel experiences offering captivating trips featuring highly curated content to 40+ remarkable destinations on all seven continents. Lindblad’s merger with Capitol II will enable it to pursue attractive future growth opportunities including new ship builds, expanded charters and potential acquisitions.