ITHAX Acquisition III, a blank check company formed by Ithaca Capital Partners, raised $200 million by offering 20 million shares at $10.00. Each unit consists of one share of common stock and one-half of one warrant, exercisable at $11.50.
The SPAC is led by CEO, CFO, and Chairman Orestes Fintiklis, the founder and Managing Partner of private equity real estate investment management firm Ithaca Capital Partners. He previously served as CEO and Chairman of ITHAX I, which merged with Mondee (formerly Nasdaq: MOND) in 2022, and later delisted in 2024.
The SPAC plans to target businesses that have an enterprise value of over $500 million, and are currently in the asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle, and related services sectors, driven by next-generation technologies including AI and digital assets, and material business positioning in the United States, as well as Latin America, European markets and beyond.
ITHAX Acquisition III plans to list on the Nasdaq under the symbol ITHAU. Cantor Fitzgerald acted as sole bookrunner on the deal.
