Mercator Acquisition, the fifth blank check company formed by Hondius Capital Management, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
Mercator Acquisition is led by CEO and Chairman Shawn Matthews, the founder and CIO of alternative investment firm Hondius Capital Management. The SPAC plans to target technology and software infrastructure companies whose products and services target financial services, real estate, and asset management companies.
Management's previous SPACs include HCM IV Acquisition (HACQU) which went public this past February; HCM III Acquisition (HCMAU), which went public this past July; HCM II Acquisition, which completed its combination with nuclear reactor developer Terrestrial Energy (IMSR; -31% from $10 offer price) this past October; and HCM Acquisition, which completed its combination with real estate company Murano Global Investments (Nasdaq: MRNO; -92%) in March 2024.
The Norwalk, CT-based company was founded in 2025 and plans to list on the Nasdaq under the symbol MRCOU. Clear Street is the sole bookrunner on the deal.
