HCM II Acquisition Corp.聽Announces Closing of聽$230,000,000 Initial Public Offering

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The successful $230 million IPO of HCM II Acquisition Corp. signals strong investor interest in Special Purpose Acquisition Companies (SPACs). With 23 million units sold at $10 each, including full exercise of the over-allotment option, the market appears receptive to new SPAC offerings. The unit structure, combining shares and warrants, provides investors with potential upside through the warrants while maintaining a $10 floor price for the shares. The involvement of Cantor Fitzgerald as sole bookrunner lends credibility to the offering. However, investors should be cautious as SPACs carry risks, including the potential for dilution and the uncertainty of finding a suitable acquisition target within the typical two-year timeframe.

The successful completion of HCM II Acquisition Corp.'s IPO demonstrates compliance with SEC regulations, as evidenced by the effective registration statement. The inclusion of the over-allotment option exercise indicates strong demand and proper structuring of the offering. The clear disclosure of the unit composition and trading symbols adheres to transparency requirements. Investors should note the standard SPAC structure with redeemable warrants and the $11.50 exercise price, which aligns with market norms. The statement regarding the availability of the prospectus and the disclaimer about offer and sale restrictions in certain jurisdictions reflect adherence to securities laws. As always, potential investors should carefully review the full prospectus for complete risk disclosures and terms.

The successful IPO of HCM II Acquisition Corp. reflects continued appetite for SPAC investments, despite recent market volatility. The full exercise of the over-allotment option suggests strong initial demand. The $230 million raise positions the SPAC competitively in the current market, providing sufficient capital to target a range of potential acquisition candidates. The listing on Nasdaq Global Market offers liquidity and visibility to investors. The unit structure with a half-warrant component is typical, balancing investor incentives with potential dilution. As the SPAC market evolves, investors are likely becoming more selective, focusing on management teams with proven track records. The success of this IPO may indicate that HCM II's leadership has garnered market confidence, but the true test will be in their ability to identify and close a value-creating business combination.

08/19/2024 - 04:56 PM

STAMFORD, Conn., Aug. 19, 2024 (GLOBE NEWSWIRE) -- HCM II Acquisition Corp. (Nasdaq: HONDU) (the 鈥淐ompany鈥�), announced today the closing of its previously announced initial public offering of 23,000,000 units, including 3,000,000 units issued pursuant to the full exercise of the underwriter of its over-allotment option. The units were sold at a price of $10.00 per unit. The Company鈥檚 units began trading on August 16, 2024, on the Nasdaq Global Market under the symbol 鈥淗ONDU鈥�. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant is exercisable to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq Global Market under the ticker symbols 鈥淗OND鈥� and 鈥淗ONDW,鈥� respectively.

Cantor Fitzgerald & Co. acted as sole bookrunner for the offering.

A registration statement relating to the securities was filed with, and declared effective by, the Securities and Exchange Commission (鈥淪EC鈥�) on August 15, 2024. The public offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from: Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, New York, NY 10022, or by e-mail at聽.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About HCM II Acquisition Corp.

HCM II Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any business or industry or at any stage of its corporate evolution. Its primary focus, however, will be in completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.

The Company鈥檚 management team is led by Shawn Matthews, its Chairman of the Board and Chief Executive Officer, and Steven Bischoff, its President and Chief Financial Officer. The Company鈥檚 Board of Directors includes Andrew Brenner, Michael J. Connor and Jacob Loveless.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute 鈥渇orward-looking statements,鈥� including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company鈥檚 registration statement and prospectus for the Company鈥檚 initial public offering filed with the SEC. Copies of these documents are available on the SEC鈥檚 website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contact:
Steven Bischoff
[email protected]

FAQ

How much did HCM II Acquisition Corp. (HOND) raise in its IPO?

HCM II Acquisition Corp. raised $230 million in its initial public offering by selling 23 million units at $10 per unit.

What is the structure of HCM II Acquisition Corp.'s (HOND) IPO units?

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant is exercisable to purchase one Class A ordinary share at $11.50 per share.

When did HCM II Acquisition Corp.'s (HOND) units start trading?

HCM II Acquisition Corp.'s units began trading on August 16, 2024, on the Nasdaq Global Market under the symbol 'HONDU'.

Who was the bookrunner for HCM II Acquisition Corp.'s (HOND) IPO?

Cantor Fitzgerald & Co. acted as the sole bookrunner for HCM II Acquisition Corp.'s initial public offering.

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