Lakeshore Acquisition III Corp. closes IPO of 6.9M units, raises $69M

Lakeshore Acquisition III Corp.

IPO of 6,900,000 units at $10.00/unit, including full exercise of over-allotment, gross proceeds $69,000,000.
Simultaneous private placement of 280,000 units to sponsor RedOne Investment Ltd. for $2,800,000.
Net proceeds of $69,000,000 deposited into trust account with Wilmington Trust, National Association.
Cash outside trust $1,221,788; total offering costs $3,934,900 (incl. deferred underwriting fees).
Company has 15 months from IPO to complete an initial business combination or liquidate.

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