<SEC-DOCUMENT>0000950123-24-012377.txt : 20250313
<SEC-HEADER>0000950123-24-012377.hdr.sgml : 20250313
<ACCEPTANCE-DATETIME>20241223214653
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-24-012377
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20241223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TCFIII SPACECO HOLDINGS LLC
		CENTRAL INDEX KEY:			0002040127
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				852660232
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		5351 ARGOSY AVE
		CITY:			HUNTINGTON BEACH
		STATE:			CA
		ZIP:			92649
		BUSINESS PHONE:		(714) 898-9951

	MAIL ADDRESS:	
		STREET 1:		5351 ARGOSY AVE
		CITY:			HUNTINGTON BEACH
		STATE:			CA
		ZIP:			92649

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TCFIII SPACECO HOLDINGS LLC
		DATE OF NAME CHANGE:	20241003
</SEC-HEADER>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">787 Seventh Avenue</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10019-6099</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: 212 728 8000</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Fax: 212 728 8111</P></TD></TR>
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<TD VALIGN="top">December&nbsp;23, 2024</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Via EDGAR Submission </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of
Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Technology </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Attention: Eiko Yaoita Pyles, Ernest Greene, Eranga Dias, Asia Timmons-Pierce </P>
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<TD VALIGN="top">Re:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>TCFIII Spaceco Holdings LLC Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Submitted October&nbsp;22, 2024</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>CIK
No.&nbsp;0002040127</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">On behalf of our client, TCFIII Spaceco Holdings LLC, a Delaware limited liability company (the &#147;<B>Company</B>&#148;),
set forth below are the Company&#146;s responses to the comments of the staff of the SEC (the &#147;<B>Staff</B>&#148;) communicated in its letter to the Company, dated November&nbsp;19, 2024. In connection with such responses, the Company will be
confidentially submitting, electronically via EDGAR, Amendment No.&nbsp;1 (the &#147;<B>Amendment</B>&#148;) to the Confidential Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> initially submitted on October&nbsp;22,
2024 (the &#147;<B>Registration Statement</B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company is seeking confidential treatment for the Registration
Statement, the Amendment and this letter pursuant to Rule 83 of the Securities and Exchange Commission. The Company will publicly file the Registration Statement, as amended, and <FONT STYLE="white-space:nowrap">non-public</FONT> draft submissions
at least 15 days prior to any road show or, in the absence of a road show, at least 15 days prior to the requested effective date of the Registration Statement, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">For ease of reference, each of the Staff&#146;s comments is reproduced below in italics and is followed by the Company&#146;s
response. In addition, unless otherwise indicated, all references to page numbers in such responses are to page numbers in the Amendment. Capitalized terms used in this letter but not otherwise defined herein shall have the meaning ascribed to such
term in the Amendment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCFIII Spaceco Holdings LLC has requested confidential treatment of this registration statement and associated
correspondence pursuant to Rule 83 of the Securities and Exchange Commission. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B<SMALL>RUSSELS&#8195;</SMALL>C<SMALL>HICAGO&#8195;</SMALL>D<SMALL>ALLAS&#8195;</SMALL>F<SMALL>RANKFURT&#8195;</SMALL>H<SMALL>OUSTON&#8195;</SMALL>L<SMALL>ONDON&#8195;
</SMALL>L<SMALL>OS</SMALL> A<SMALL>NGELES&#8195;</SMALL>M<SMALL>ILAN</SMALL> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">M<SMALL>UNICH&#8195;</SMALL>N<SMALL>EW</SMALL>
Y<SMALL>ORK&#8195;</SMALL>P<SMALL>ALO</SMALL> A<SMALL>LTO&#8195;</SMALL>P<SMALL>ARIS&#8195;</SMALL>R<SMALL>OME&#8195;</SMALL>S<SMALL>AN</SMALL> F<SMALL>RANCISCO&#8195;</SMALL>W<SMALL>ASHINGTON</SMALL> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December&nbsp;23, 2024 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 2
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCFIII Spaceco Holdings LLC has requested confidential treatment of this registration
statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission. </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> submitted
October&nbsp;22, 2024 </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Summary, page 1 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>1. Please balance the disclosure in the summary by addressing the challenges that you face. Please disclose your indebtedness. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on pages 6-7 of the Amendment
accordingly. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Key Financial and <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Operating Measures, page 68 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>2. We note you present the <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> financial measures, Adjusted EBITDA and Adjusted EBITDA margin,
and they include adjustments for integration expenses and <FONT STYLE="white-space:nowrap">non-recurring</FONT> restructuring costs and lender and administrative agent fees. Please address the following: </I></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>You disclose that integration expenses and <FONT STYLE="white-space:nowrap">non-recurring</FONT>
restructuring costs include amounts incurred or paid as a part of the Company&#146;s rebranding efforts, which included signage redesign, installation of new signage, and associated personnel costs. Please explain to us the nature of these costs and
why you believe they do not represent normal, recurring operating expenses. In doing so, please quantify for us the amounts that represent process improvement and/or strategic initiatives from the amounts that represent costs related to a formal
restructuring plan and integration costs from actions related to business acquisitions.</I> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>It appears that lender and administrative agents fees are also normal operating expense related to your
business. Please revise your disclosure to not exclude lender and administrative agent fees from <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> performance measures or explain why you believe the adjustment is appropriate. Please explain your
consideration of Question 100.01 of the <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures Compliance and Disclosure Interpretations in determining the appropriateness of these adjustments.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledge the Staff&#146;s comment and has revised the disclosure on pages 5, 9,
17, 68, 70, 80 and 84 of the Amendment accordingly. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 23, 2024 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 3
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCFIII Spaceco Holdings LLC has requested confidential treatment of this registration
statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission. </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">3. <I>We note on page 70 that you present Adjusted EBITDA margin, but do not present the most
directly comparable GAAP measure, net income / (loss) margin, with equal or greater prominence. Please revise your disclosure to present the most directly comparable GAAP measure with equal or greater prominence in accordance with Item
10(e)(1)(i)(A) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT></I> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the
Staff&#146;s comment and has revised its references to <I>net income / (loss) margin</I> throughout the Amendment, including on pages 17, 68, and 70-71 of the Amendment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Business </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Government Contracts, page 84 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I></I>4.<I> To the extent material, please quantify the amount of revenue attributable to government contracts or subcontracts. Refer to Item
101(c)(1)(i) and (iv)&nbsp;of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully
acknowledges the Staff&#146;s comment and has revised the disclosure on page 85 of the Amendment accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Properties, page 85 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I></I>5.<I> Please revise to provide more detailed information regarding your properties. </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on pages 86-87 of the Amendment
accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Intellectual Property, page 86 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I></I>6.<I> We note your disclosure that you rely on patents, trademarks, trade secrets and proprietary knowledge and technology in order to
maintain a competitive advantage. Please revise to disclose the duration and effects of any patents, trademarks, licenses, franchises, and/or concessions held by the company, as applicable. Refer to Item 101(c)(1)(iii) of Regulation <FONT
STYLE="white-space:nowrap">S-K.</FONT> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has revised
the disclosure on page 88 of the Amendment accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Raw Materials, page 86 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I></I>7.<I> Please revise to identify the raw materials used to manufacture your products. </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on pages 87-88 of the Amendment
accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Executive Compensation, page 93 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I></I>8.<I> In your next amendment please include the missing information including the information for your summary compensation table.
</I></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 23, 2024 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 4
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCFIII Spaceco Holdings LLC has requested confidential treatment of this registration
statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission. </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has
revised the disclosure on pages 94-99 of the Amendment accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Principal Stockholders, page 99 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>9. Please revise this section to include all the information required by Item 403 of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT>
Including prominent disclosure of the title of class of security and the address of each individual/entity owner. </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The
Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on page 104 of the Amendment accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Forum Selection,
page 102 </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>10. We note that your forum selection provision identifies a state court located within the State of Delaware (or, if no
state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware) as the exclusive forum for certain litigation, including any &#147;derivative action.&#148; Please disclose whether this
provision applies to actions arising under the Securities Act or Exchange Act. If so, please also state that there is uncertainty as to whether a court would enforce such provision. If the provision applies to Securities Act claims, please also
state that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. In that regard, we note that Section&nbsp;22 of the Securities Act creates concurrent jurisdiction for federal and state courts
over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. If this provision does not apply to actions arising under the Exchange Act, please also ensure that the exclusive forum
provision in the governing documents states this clearly, or tell us how you will inform investors in future filings that the provision does not apply to any actions arising under the Exchange Act. </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on page 106 of the Amendment
accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 10. Membership Units </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Profit
interest units, page <FONT STYLE="white-space:nowrap">F-23</FONT> </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>11. We note that ASC 710, Compensation was applied to account for
the PIUs. Please tell us the specific characteristics of the PIUs that you considered and your basis for the accounting treatment, including specific authoritative guidance that supports your analysis. Also, revise to disclose any expected changes
to the PIUs upon corporate conversion. </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment
and has revised its historical financial statements to reflect the accounting for the PIUs or &#147;P Units&#148; as share-based compensation under ASC 718. Please refer to Notes&nbsp;3 (Restatement) and 12 (Share-Based Compensation) of the
Consolidated Financial Statements for a discussion of the impacts of this change and our revised disclosure associated with the P Units, respectively. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 23, 2024 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 5
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCFIII Spaceco Holdings LLC has requested confidential treatment of this registration
statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission. </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Notes to Consolidated Financial Statements </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 11. Provision for Income Tax, page <FONT STYLE="white-space:nowrap">F-23</FONT> </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>12. We note that your tax rate reconciliation includes a &#147;Return to provision&#148; line item. Please clarify for us and disclose in
your filing the nature of the return to provision <FONT STYLE="white-space:nowrap">true-up</FONT> line item. In addition, please provide us with a comprehensive analysis to show how you determined whether your return to provision adjustment is a
change in accounting estimate or an error correction pursuant to ASC 250. </I></P>
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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 23, 2024 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 6
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCFIII Spaceco Holdings LLC has requested confidential treatment of this registration
statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission. </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has
revised the disclosure in Note&nbsp;14 (Provision for Income Taxes) of the consolidated Financial Statements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>General </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>13. Please revise your registration statement to provide under separate title &#147;Determination of Offering Price&#148; the various
factors considered in determining your initial offering price. See Item 505(a) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on page 122 of the Amendment
accordingly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>14. We note your disclosure regarding rights of certain shareholders under the Stockholder&#146;s Agreement. Please
disclose these rights in your summary and include appropriate risk factor disclosures. </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company respectfully
acknowledges the Staff&#146;s comment and has revised its disclosure regarding rights of Trive Capital under the stockholders agreement throughout the Amendment, including on pages <FONT STYLE="white-space:nowrap">48-49,</FONT> 101, and 107 of the
Amendment. </P>
</DIV></Center>


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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 23, 2024 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 7
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCFIII Spaceco Holdings LLC has requested confidential treatment of this registration
statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission. </B></P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Please do not hesitate to contact Sean M. Ewen at <FONT STYLE="white-space:nowrap">(212)&nbsp;728-8867&nbsp;at</FONT> Willkie
Farr&nbsp;&amp; Gallagher LLP with any questions you may have regarding this confidential submission or if you wish to discuss any of the above responses. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Sean M. Ewen</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sean M. Ewen, Willkie Farr&nbsp;&amp; Gallagher LLP</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tony Koblinski, TCFIII Spaceco Holdings LLC</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mike Willis, TCFIII Spaceco Holdings LLC</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dave Boston, Willkie
Farr&nbsp;&amp; Gallagher LLP</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Hugh McLaughlin, Willkie Farr&nbsp;&amp; Gallagher LLP</P></TD></TR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
