Business Wire·Oct 13, 2026, 8:00 AM ET

PlusAI and Texas Ventures Acquisition III Corp Announce Filing of Registration Statement on Form S-4 in Connection with Proposed Business Combination

PlusAI & Texas Ventures Acquisition III Corp filed a Form S-4 registration statement with the SEC to advance their previously announced business combination.
The transaction values PlusAI at approximately $800 million in pre-money equity & is supported by up to $300 million in capital.
The combined entity will operate as PlusAI & is expected to list on Nasdaq under the ticker symbol "PXAI".
Funds include over $60 million in fully committed financing & approximately $236 million held in the Texas Ventures III trust.
The filing marks a key milestone toward PlusAI's targeted 2027 commercial launch of factory-built autonomous trucks powered by SuperDrive™.
PlusAI currently generates revenue through its HyperFoundry™ platform, having earned $25 million year-to-date.
PlusAI is actively operating autonomous freight routes in Texas with Ryder & International while partnering with OEMs such as TRATON GROUP, Hyundai, & IVECO.
The Registration Statement remains preliminary & has not yet been declared effective by the SEC.