TVA SPAC to merge with Plus Automation at $800M pre-money; combined company to be PlusAI Holdings

Texas Ventures Acquisition III Corp

Deal values Plus Automation at $800M pre-money; exchange ratio based on $10.00 per share.
Up to 70M earnout shares in three tranches tied to VWAP price targets over 5 years.
Closing requires ≥$40M cash from trust, PIPE, and convertible note; TVA net tangible assets ≥$5,000,001.
TVA to domesticate to Delaware and rename PlusAI Holdings, Inc.; deadline Oct 24, 2026, extendable to Jun 2, 2027.
Sponsor Yorkville Acquisition Sponsor II agrees to vote for deal and cover SPAC expenses over $7.5M.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.