INSU Acquisition Corp. III announced that it has entered into a share purchase agreement with Insurance Acquisition Sponsor III, LLC for private placement of 575,000 units at a price of $10 per unit for gross proceeds of $5,750,000 on December 17, 2020. Each unit comprised of one share of class a common stock of the company, par value $0.0001 per share, and one third of one warrant to purchase one share of common stock, for a purchase price of $5,750,000, the shares of common stock underlying the warrants are hereinafter referred to as the warrant shares. The company has determined to issue and deliver up to 191,667 warrants. The shares of common stock underlying the units are hereinafter referred to as the placement shares. The warrants underlying the units are hereinafter referred to as the placement warrants. Placement warrants may be exercised only to the extent that, when aggregated with other placement warrants being exercised, the exercise is for a whole share or whole shares; no fractional shares shall be issuable. The exercise price for any warrant share shall be $11.50. Subject to the foregoing, the placement warrants are exercisable during the period commencing on the later of (i) 12 months from the date of the completion of the company’s initial public offering of units and (ii) 30 days following the consummation of the company’s initial business combination, as such term is defined in the registration statement filed in connection with the public offering, as amended at the time it becomes effective , and expiring on the fifth anniversary of the consummation of the business combination.