Company: CGCT
Filing Date: 2025-03-05
Form Type: S-1/A
Source: 0001104659-25-020969
Chunk: 156

Company: Cartesian Growth Corp III
Filing Date: 2025-03-05
Form: S-1/A
Chunk 156
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 sale    
 of the private placement warrants. As of December 31, 2024, we had borrowed $41,626           
 under the promissory note with our sponsor.                                                   |

| (2) | Upon the completion of                                                                         
 our initial business combination, we will provide our public shareholders with the opportunity 
 to redeem their public shares, regardless of whether they abstain, vote for, or vote against,  
 our initial business combination, for cash at a per share price equal to the aggregate amount  
 then on deposit in the trust account calculated as of two business days prior to               
 the consummation of our initial business combination, including interest earned on the funds   
 held in the trust account (less taxes payable, but without deduction for any excise or similar 
 tax that may be due or payable), divided by the number of then-outstanding public shares,      
 subject to any limitations (including, but not limited to, cash requirements) created by       
 the terms of the proposed business combination.                                                |

| (3) | Actual share amount is                                                                      
 prior to any forfeiture of founder shares and as adjusted amount assumes no exercise of the 
 underwriters’ over-allotment option and forfeiture of an aggregate of 750,000               
 founder shares.                                                                             |

<div align='center'>87

Management’s Discussion and Analysis of
Financial Condition and Results of Operations</div>

Overview

We are a blank check company incorporated on
October 29, 2024 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange,
asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer
to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not,
nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. Additionally,
we have not contacted any of the prospective target businesses that CGC I, a former SPAC sponsored by affiliates of our sponsor that
completed its initial business combination in January 2023, had considered and rejected while such entity was a blank check company
searching for target businesses to acquire. We also have not contacted any of the prospective target businesses that CGC II, an existing
SPAC sponsored by affiliates of our sponsor that consummated its initial public offering in May 2022, has considered while such
entity continues its search for target businesses to acquire. However, we