AR15News.com has a great photo breakdown of the upcoming Gen 3 Folding Stock Adapter from Law Tactical. There are few notable changes on the Generation 3, notably the height of the hinge has been dropped so it is easier to rack the action without racking your knuckles.
There are a few other changes including a set screw and the ability to easily separate the receivers like a non-folding AR-15. The Gen 3 also includes a Q/D cut out and nice cerakote finish.
Law Tactical expects pricing to be around $229. Dealers are able to pre-order the new generation now. Law Tactical expects to be shipping the adapters very soon.