Company: CGCT
Filing Date: 2025-01-29
Form Type: S-1
Source: 0001104659-25-006780
Chunk: 158

Company: Cartesian Growth Corp III
Filing Date: 2025-01-29
Form: S-1
Chunk 158
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 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 may contact any such targets subsequent to the closing of this offering if we
become aware that the valuations, operations, profits or prospects of such target business, or the benefits of any potential transaction
with such target business, would be attractive to our shareholders. We have conducted no operations and have generated no revenues to
date, and we will not generate operating revenues until, at the earliest, after we consummate our initial business combination.

We