HCM III Acquisition, the third blank check company formed by Hondius Capital Management, raised $220 million by offering 22 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Shawn Matthews, the founder and CIO of alternative investment firm Hondius Capital Management, and CFO Steven Bischoff, who was previously a Partner at NatAlliance Securities. While it has not selected a target industry or geography, the SPAC plans to focus on established businesses of scale poised for continued growth, led by a highly regarded management teams.
Management's previous SPACs include HCM II Acquisition (HOND; +10% from $10 offer price), which has a pending merger agreement with nuclear reactor developer Terrestrial Energy, and HCM Acquisition, which completed its combination with real estate company Murano Global Investments (MRNO; -26%) in March 2024.
HCM III Acquisition plans to list on the Nasdaq under the symbol HCMAU. Cantor Fitzgerald acted as sole bookrunner on the deal.
