Mercator Acquisition, a blank check company formed by Hondius Capital executives targeting financial technology, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock, and one-half of one warrant to purchase a share, exercisable at $11.50.
The company originally filed to offer 25 million units at $10, before it decreased the share offering on July 2.
Mercator Acquisition is led by CEO and Chairman Shawn Matthews, the founder and CIO of alternative investment firm Hondius Capital Management. He is joined by CFO Steve Bischoff and President Shawn Matthews Jr. 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 last August; HCM II Acquisition, which completed its combination with nuclear reactor developer Terrestrial Energy (IMSR) last October; and HCM Acquisition, which completed its combination with real estate company Murano Global Investments (MRNO) in March 2024. Terrestrial Energy briefly skyrocketed more than 150% above its offer price around the time of the de-SPAC, before the stock returned back to earth.
The Norwalk, CT-based company will trade on the Nasdaq under the symbol MRCOU. Clear Street acted as sole bookrunner on the deal.
