HCMA SEC filings, in plain English
Everything HCM III ACQUISITION CORP. has filed with the SEC that we hold — 38 filings, newest first, 36 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Quarterly report (Form 10-Q) for HCM III Acquisition Corp. for the quarter ended June 30, 2026, filed August 14, 2026. Trust account value increased from $257.3M to $261.8M, raising per-share redemption value from $10.17 to $10.35. Cash dropped from $1.02M to $0.67M, leading to a working capital deficit of $0.75M. Accrued expenses rose from $0.59M to $1.45M. The company still has no target; it explicitly states it has not engaged in substantive discussions with any business combination target. The company reiterated substantial doubt about its ability to continue as a going concern if it cannot complete a business combination by August 4, 2027. No working capital loans from sponsor were outstanding. Why it matters: Trust per share continues to accrete upward, providing a growing floor for redemptions. However, the cash burn and working capital deficit raise concerns about the company's ability to fund operations until the August 2027 deadline. The absence of any target discussions indicates no near-term deal is likely. The going concern qualification is a red flag for investors monitoring liquidation risk.
What changed vs 2026-05-14trust $259.4M → $261.8M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $259.4M$261.8M
- Combination deadline
- not previously extracted2027-08-04
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 25.3M · unchanged
SpacBrain reads this as $2,397,984 was added to the trust between the two filings.
The clause “80,323 1,088,566 Long-term prepaid insurance 5,417 37,917 Marketable securities held in Trust Account 261,800,278 257,298,929 Total Assets $ 262,586,018 $ 258,425,412 Liabilities, Class A Ordinary Shares Subject to Possible Redemption,”…
The clause …“position, projected operating costs, and the requirement to complete a Business Combination by August 4, 2027 or otherwise liquidate, the Company may not have sufficient liquidity to meet its obligations for at least twelve”…
The clause …“date of these unaudited condensed financial statements. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. 7 HCM III ACQUISITION CORP. NOTES TO THE CONDENSED FINANCIAL STATEMENTS JUNE 30,”…
The clause …“value; 200,000,000 shares authorized; none issued or outstanding, excluding 25,300,000 Class A ordinary shares subject to possible redemption, as of June 30, 2026 and December 31, 2025 — — Class B ordinary shares, $ 0.0001 par value;”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: SEC Schedule 13G/A — an amended beneficial ownership report. The filing identifies Meteora Capital, LLC as the reporting holder submitting Accession No. 0001905106-26-000136. The excerpt discloses no share quantity, voting or investment discretion shifts, redemption threshold impacts, trust account metrics, extension proceedings, target acquisition progress, or sponsor conduct. Why it matters: Amended 13G filings typically update previously disclosed positions, adjust shared versus sole control designations, or reflect ownership movements near the statutory five-percent line. Tracking these submissions helps investors map institutional participation ahead of HCMA’s potential business combination vote or mandatory conversion timeline, though this text alone provides no quantitative stake data or operational commentary.
What changed: A routine compliance exhibit: a Joint Filing Agreement serving as Exhibit 99.1 to a Schedule 13G beneficial ownership report, dated June 24, 2026. No operational or structural mechanics changed. The filing does not modify the SPAC’s redemption calendar, trust per-share value, extension provisions, or business combination timeline. It solely establishes a procedural arrangement permitting five RP-affiliated entities to satisfy their Section 13 reporting obligations simultaneously rather than submitting individual schedules. Why it matters: According to the execution blocks, CEO Richard Pilosof acts through General Partner RP Investment Advisors GP Inc. to bind RP Investment Advisors LP, RP Select Opportunities Master Fund Ltd., RP Debt Opportunities Fund Ltd., RP Alternative Global Bond Fund, and RP Alternative Credit Opportunities Fund to a single filing obligation. This confirms centralized voting and disposition authority across those vehicles, which is relevant for blockholder mapping if the SPAC eventually enters a definitive merger agreement phase. The document contains no assertions about customers, revenue targets, market size, technology roadmaps, strategic partnerships, or pending litigation. It is strictly an administrative disclosure tool designed to streamline SEC submissions while preserving each party’s right to unilaterally revoke the joint arrangement via signed written notice.
What changed: A Schedule 13G — beneficial ownership report. According to the filing submitted by Meteora Capital, LLC, this document contains no updates, amendments, or disclosures bearing on redemption deadlines, trust value per share, extension provisions, business combination deal progress, or sponsor conduct. The text does not report any figures, operational timelines, or corporate action resolutions relevant to HCM III ACQUISITION CORP.’s current search phase. Why it matters: As reported by Meteora Capital, LLC in this routine compliance exhibit, the filing does not identify customer contracts, revenue milestones, market size projections, strategic initiatives, proprietary technology, partnership arrangements, litigation exposure, or personnel transitions. Because the submission solely registers a passive equity position without addressing liquidity triggers, trust account sufficiency, or transaction milestones, it does not alter investor calculations for redemptions or extension funding, and stakeholders should monitor subsequent merger proxies or prospectus amendments for substantive mechanical changes.
What changed: Quarterly report on Form 10-Q for the period ended March 31, 2026, filed by HCM III Acquisition Corp., a blank check company still searching for a business combination target. Trust account marketable securities increased from $257,298,929 at December 31, 2025 to $259,402,294 at March 31, 2026 (redemption value per share rose from $10.17 to $10.25). Cash and cash equivalents decreased from $1,015,282 to $830,149. The company reported net income of $1,724,603 for the quarter, consisting entirely of interest income on trust securities ($2,103,365) and cash equivalents ($8,511), offset by $387,273 in general and administrative costs. Management disclosed substantial doubt about the company's ability to continue as a going concern, citing insufficient liquidity to meet obligations for twelve months from the financial statement issuance date. No business combination target has been selected, and no substantive discussions have occurred. The deadline to complete a business combination is 24 months from the IPO closing date of August 4, 2025 (i.e., August 4, 2027). No extension has been sought or approved. Sponsor conduct remains standard: the sponsor has agreed to waive redemption rights on founder shares and vote in favor of any business combination, and has agreed to indemnify the trust for certain third-party claims, though the company notes the sponsor's only assets are its securities in the company. Working capital loans of up to $1,500,000 may be available, but none were outstanding as of March 31, 2026. Why it matters: For investors monitoring redemption deadlines and trust value, this SPAC remains on track with its 24-month deadline (August 2027). The trust is growing from interest, but the going concern warning signals that if no deal is reached soon, the company may run out of working capital. The sponsor's indemnification is unsecured and the sponsor appears to have no other assets, which introduces risk if claims arise. No substantive discussions with any target have occurred, indicating the search is still in early stages. The current cash burn rate is modest, but the company explicitly states it may not have sufficient liquidity for the next twelve months, which could force a liquidation or extension vote sooner than the deadline.
What changed vs 2025-11-14trust $254.7M → $259.4M +2%going concern APPEAREDtrust account, going-concern doubt, redeemable shares2 moved · 1 with no prior record of ours
- Trust account
- $254.7M$259.4M
- Going-concern doubt
- not statedstated
- Redeemable shares
- 25.3M · unchanged
SpacBrain reads this as $4,675,134 was added to the trust between the two filings.
The clause “3,566 1,088,566 Long-term prepaid insurance 21,667 37,917 Marketable securities held in Trust Account 259,402,294 257,298,929 Total Assets $ 260,387,527 $ 258,425,412 Liabilities, Class A Ordinary Shares Subject to Possible Redemption,”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“date of the unaudited condensed financial statements. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. 7 HCM III ACQUISITION CORP. NOTES TO THE CONDENSED FINANCIAL STATEMENTS MARCH”…
The clause “1, 2025, there were no Class A ordinary shares issued or outstanding, excluding 25,300,000 shares subject to possible redemption. Class B Ordinary Shares — The Company is authorized to issue a total of 20,000,000 Class B ordinary shares”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Annual report on Form 10-K for the fiscal year ended December 31, 2025, filed by HCM III Acquisition Corp., a blank-check special purpose acquisition company (SPAC) that completed its IPO on August 4, 2025 and has not yet identified a business combination target. This is the company's first 10-K since inception. Key developments: (1) IPO closed on August 4, 2025, selling 25,300,000 units at $10.00 each, raising $253.0 million; (2) trust account balance at year-end was $257,298,929 ($10.17 per public share) due to $4,298,929 in interest; (3) working capital outside trust totaled $1,015,282 with a surplus of $423,735; (4) management expressed substantial doubt about the company's ability to continue as a going concern; (5) no business combination discussions have been initiated; (6) sponsor transferred 25,000 founder shares to each of three independent directors; (7) non-managing sponsor investors indirectly hold 49.42% of founder shares and 90.6% of sponsor's private placement warrants; (8) advisory fee of $1,204,500 payable to an affiliate upon closing of a business combination. Why it matters: The trust value per share ($10.17) exceeds the $10.00 IPO price, providing a modest premium for redeeming shareholders. The company must complete an initial business combination by August 4, 2027 (24-month deadline). The going-concern warning highlights the risk of liquidation if no deal is reached. Sponsor conduct includes nominal cost for founder shares ($0.003-$0.004 per share) and potential conflicts of interest due to affiliates' involvement (Zenith advisory fees, Hondius Capital Management). The disclosure of non-managing sponsor investors reveals dilution structure and potential voting influence.
What changed: A Schedule 13G beneficial ownership report. The filing attributes the reporting holder designation to Meteora Capital, LLC. It contains zero disclosures regarding redemption deadlines, trust account valuation, extension provisions, business combination advancement, or sponsor conduct. It additionally contains no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel attributed to any party. Why it matters: As a routine ownership disclosure lacking share quantities, target identifiers, or timeline amendments, the submission does not alter HCMA’s SEARCHING status, affect trust capital preservation, modify redemption windows, or signal sponsor accountability shifts. Tracking investors will find no mechanical or strategic update from this excerpt.
What changed: A Securities and Exchange Commission Schedule 13G, which is a regulatory disclosure form used to report the acquisition of beneficial ownership exceeding five percent of a class of equity securities. The provided filing text identifies HCM Investor Holdings III, LLC and Shawn Matthews as the reporting holders for HCMA. It contains no numerical holdings, acquisition dates, purpose statements, or references to redemption deadlines, trust balances, extension proposals, merger negotiation status, or sponsor conduct adjustments. Why it matters: Schedule 13G filings typically designate passive investment positions rather than active campaigns or tender offers. For shareholders monitoring HCM III Acquisition Corp., this excerpt confirms that these two parties maintained a reportable stake as of the November 14, 2025 filing date, but it delivers zero mechanical updates regarding the August 4, 2027 liquidation window, per-share trust value, or business combination timeline. Without attached exhibit schedules showing exact share counts or subsequent Form 4/13D filings, this document functions solely as a routine compliance checkpoint and does not alter the current SEARCHING status or trigger redemption or extension protocols.
What changed: Quarterly Report (Form 10-Q) for the period ended September 30, 2025, filed by HCM III Acquisition Corp., a blank check company that completed its IPO on August 4, 2025. This is the first 10-Q since the IPO. The IPO closed on August 4, 2025, raising $253,000,000 (25,300,000 units at $10.00, including full over-allotment). The trust account held $254,727,160 as of September 30, 2025, including $1,727,160 in interest income, resulting in a trust value of $10.07 per share. The company reported net income of $390,364 for the quarter (mostly from trust interest). It has $1,144,833 in cash outside trust and working capital of $1,129,082. No business combination target has been selected, and no substantive discussions have occurred. The deadline to complete a business combination is 24 months from the IPO (August 2027). No redemptions or extensions are reported. The sponsor and officers have agreed to standard lock-up and waiver provisions. Why it matters: This filing establishes the baseline post-IPO financial position for investors. The trust value per share is slightly above $10.00 due to interest, which is favorable. The company has sufficient working capital to continue its search. The absence of any target or substantive discussions confirms the SPAC is in early-stage searching. The document also confirms that the underwriters' over-allotment was fully exercised, increasing the trust size. The reported advisory fee expenses and reimbursements provide transparency on costs. No material changes to risk factors were noted.
trust account, redeemable shares, sponsor loans outstandingnothing moved · 3 with no prior record of ours
- Trust account
- not previously extracted$254.7M
- Redeemable shares
- not previously extracted25.3M
- Sponsor loans outstanding
- $228Knot matched in this filing
The clause …“Assets 1,244,024 Long term prepaid insurance 54,167 Marketable securities held in Trust Account 254,727,160 Total Assets $ 256,025,351 Liabilities and Shareholders’ Deficit: Current Liabilities Accrued expenses $ 39,942 Accrued”…
The clause “0, 2025, there were no Class A ordinary shares issued or outstanding, excluding 25,300,000 shares subject to possible redemption. Class B Ordinary Shares — The Company is authorized to issue a total of 20,000,000 Class B ordinary shares”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: A Form 8-K current report and accompanying press release announcing the commencement of separate trading for HCMA III Acquisition Corp.'s Class A ordinary shares and redeemable warrants. The company announced that beginning September 22, 2025, holders of units from its initial public offering—each originally comprising one Class A ordinary share and one-third of one warrant—may elect to separate those components into standalone securities. Following separation, only whole warrants will trade, with no fractional warrants issued. Investors must direct their brokers to contact Continental Stock Transfer & Trust Company to initiate the split. Unseparated units will retain the HCMAU symbol on Nasdaq, while the separated shares and warrants will trade under HCMA and HCMAW, respectively. The press release confirms each whole warrant entitles the holder to purchase one Class A ordinary share for $11.50 per share. Why it matters: This filing details a routine listing and capitalization adjustment that alters the tradability of HCMA's securities but leaves the acquisition timeline, redemption mechanics, and trust account structure unaffected. The document does not announce a business combination target, nor does it modify the stated search deadline or per-share trust balance. The company reiterated its organizational leadership in the attached press release: Chairman and CEO Shawn Matthews, President and CFO Steven Bischoff, alongside board members Richard Donohoe, Craig Goos, and Jacob Loveless. The stated strategy remains focused on completing a business combination with an established business of scale. For calendar trackers, this is an administrative event rather than a trigger for redemption or extension votes.
What changed: Quarterly Report (Form 10-Q) for the period ended June 30, 2025, filed by HCM III Acquisition Corp., a blank check company. This is the company's first quarterly report since inception (April 15, 2025). The IPO closed on August 4, 2025, after the quarter end, so the financial statements as of June 30, 2025, show only pre-IPO activity: formation costs, deferred offering costs, and a related-party promissory note. No business combination has been announced or discussed. The trust account was not yet funded at June 30, 2025; subsequent to quarter end, the company placed $253,000,000 ($10.00 per unit) in trust from the IPO and private placement warrants. Why it matters: The filing confirms the trust value ($10.00 per share) and the 24-month deadline to complete a business combination (by August 4, 2027). It also discloses that the sponsor has limited assets and may be unable to satisfy its indemnification obligations. The company has no target or substantive discussions with any target. The working capital loans available (up to $1.5 million) are convertible into warrants, which could dilute shareholders if used. The filing is routine for a newly public SPAC but provides the baseline terms for redemption mechanics and sponsor conduct.
What changed: Form 8-K Current Report announcing the consummation of an initial public offering, the concurrent private sale of warrants, the execution of an advisory agreement with a sponsor affiliate, and the issuance of an audited balance sheet. According to the registrant, the Company completed its IPO on August 4, 2025, selling 25,300,000 units at $10.00 per unit, which included the full exercise of a 3,300,000-unit overallotment option. Item 8.01 and the accompanying audited balance sheet state that $253,000,000 was deposited into a trust account administered by Continental Stock Transfer & Trust Company. Simultaneously, the Company sold 4,266,667 private placement warrants to the Sponsor and Cantor Fitzgerald & Co. for $6,400,000. The advisory agreement filed as Exhibit 10.1 establishes a combined compensation of 0.65% of the IPO gross proceeds (structured as a 0.20% Advisor IPO Fee payable at IPO closing and a 0.45% Advisor IBC Fee payable at the initial business combination), with the underwriters contractually obligated to reimburse the Company for these costs. The financial notes confirm that the Sponsor’s 8,433,333 Class B founder shares are no longer subject to forfeiture following the full over-allotment exercise. Why it matters: This filing transitions the SPAC into a funded, public search phase, fixing the trust value at $253,000,000 and activating a 24-month completion window that expires on August 4, 2027, as disclosed in Note 1. The registrant reports $12,045,000 in deferred underwriting discounts, which remain payable only upon a successful business combination, alongside a recurring $15,000-per-month administrative services payment to a sponsor affiliate that ceases at combination or liquidation. Management states the Company has not engaged in substantive discussions with any target and requires a target with a fair market value equal to at least 80% of the net trust balance at signing. The Company holds $1,306,160 in operational cash outside the trust, maintains a $7,080 receivable from the Sponsor, and has reserved up to $1,500,000 in convertible working capital loan capacity, though none are currently outstanding. Warrant exercise economics are locked at $11.50 per whole share, exercisable 30 days post-business combination, and expire five years thereafter.
What changed: Form 4 — insider ownership report filed under Section 16 of the Securities Exchange Act, disclosing securities transactions and holdings of HCM III Acquisition Corp. directors, officers, and principal shareholders. Per the filing, Director Richard Charles Donohoe reported no non-derivative transactions or holdings changes for the covered period. Regarding SPAC mechanics, the document contains no updates on the redemption deadline of 2027-08-04, the trust account value of $10 per share, any extension referendum, target acquisition progress, or sponsor conduct. No claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel changes were disclosed in this submission. Why it matters: Investors monitoring redemption liquidity, trust preservation, and executive alignment should treat this filing as standard regulatory transparency that does not alter expected cash flows or governance timelines. During the current SEARCHING status, a board member’s static equity position neither accelerates a de-SPAC merger nor increases redemption risk against the 2027-08-04 expiration. Because the filing introduces no pricing data, voting schedules, or operational metrics, it does not trigger immediate action items for trust valuation tracking or extension planning. Event-driven capital remains dependent on subsequent business combination disclosures rather than this routine compliance submission.
What changed: A Form 4 insider ownership report submitted to the SEC for HCM III ACQUISITION CORP., identifying Director, Chairman, and CEO Matthews Shawn and Sponsor HCM INVESTOR HOLDINGS III, LLC as the reporting persons. According to the filing’s own declarations, there are no changes to the company’s redemption calendar, trust account valuation, or proposed business combination timeline. The document explicitly states 'No non-derivative transactions or holdings reported,' meaning neither Matthews Shawn nor HCM INVESTOR HOLDINGS III, LLC—each classified in the submission as a '10% owner'—has altered their equity positions. Consequently, the sponsor’s economic stake and the firm’s operational 'SEARCHING' designation remain unchanged relative to the stated deadline. Why it matters: The SEC submission confirms routine administrative compliance and provides a verified checkpoint on insider retention during the merger search phase. While the document contains no substantive claims regarding target customers, projected revenue, addressable market size, strategic partnerships, technological roadmap, or pending litigation, the unmodified 10% holdings attributed to both the chief executive and the sponsor help investors assess alignment and baseline governance stability ahead of any potential extension vote or acquisition announcement.
What changed: A routine SEC Form 4 insider ownership compliance report filed by Director Craig Goos for HCM III Acquisition Corp. The Form 4 filing states that Director Craig Goos executed no non-derivative transactions and reported no changes to his existing equity holdings during the covered period. Accordingly, there are no alterations to insider ownership levels, trust account mechanics, redemption calendar thresholds, extension provisions, business combination progress, or sponsor/director conduct. The submission contains no claims or disclosures regarding customer pipelines, revenue streams, addressable market sizing, corporate strategy, technology assets, partnership agreements, legal proceedings, or management personnel changes. Why it matters: For investors tracking SPAC governance and milestone readiness, this document establishes a verified baseline that Director Goos has not adjusted his financial exposure or voting alignment ahead of the stated 2027-08-04 deadline. Zero-activity Form 4 filings eliminate speculation around recent insider trading behavior while simultaneously confirming that no capital call, lock-up adjustment, or targeted entity introduction has been initiated through this directorship. The filing carries no independent weight on shareholder liquidation options, trust accrual rates, or conversion ratios, serving strictly as a periodic transparency update that leaves all operational and redemption mechanics unchanged.
What changed: A Form 4 insider ownership report filed with the SEC, identifying HCM III Acquisition Corp. as the issuing SPAC and Director Jacob Loveless as the reporting person. Jacob Loveless explicitly stated that he had 'No non-derivative transactions or holdings reported,' confirming zero adjustments to his direct equity positions or derivative contracts for the reporting window closing on or before 2025-08-05. Why it matters: This routine compliance disclosure does not modify the SPAC's operational timeline or capital structure: the trust balance stays referenced at $10 per share, the final conversion deadline remains 2027-08-04, and the organization continues its SEARCHING phase. The absence of recorded insider purchases or sales offers no actionable signal regarding redemption pressure, target pursuit velocity, or willingness to fund a potential extension. Attributing no quotes or data to the sponsor, management team, or any prospective acquisition target, the filing contains no substantive forward-looking statements, customer disclosures, revenue figures, market size assessments, strategic roadmaps, technology details, partnership announcements, or litigation updates.
What changed: A Schedule 13G Joint Filing Agreement pursuant to Rule 13d-1(k), functioning as a routine compliance exhibit that formalizes collective submission of a beneficial ownership report on behalf of Saba Capital Management, L.P., Boaz R. Weinstein, and Saba Capital Management GP, LLC. The provided filing text consists solely of signature authority declarations dated August 5, 2025, authorizing Michael D'Angelo as signatory. It stipulates that the referenced Schedule 13G statement and all subsequent amendments will be filed jointly, assigns individual responsibility for timely submission and accuracy of each signer's information, and clarifies that no party assumes liability for the others' data unless aware of its inaccuracy. The excerpt contains no updates to HCMA's redemption calendar, trust distribution mechanics, proposed extensions, acquisition target screening, or sponsor governance conduct. Why it matters: Investors tracking HCMA should classify this as an administrative filing confirmation rather than a substantive corporate event. Because the excerpt discloses no share quantities, transaction timestamps, voting directives, or activist mandates, it does not influence redemption window timing, alter per-share trust valuations, signal business combination progress, or reflect sponsor intervention in HCMA's search process. Material impact would require a companion filing attaching actual position data, a schedule amendment crossing regulatory thresholds, or explicit declarations regarding HCMA's management, acquisition targets, or shareholder voting behavior.
What changed: Form 8-K reporting the closing of the initial public offering of HCM III Acquisition Corp., including the underwriting agreement, trust agreement, warrant agreement, registration rights agreement, private placement agreements, insider letter, and administrative support agreement. HCM III Acquisition Corp. consummated its initial public offering of 25,300,000 units at $10.00 per unit, raising $253,000,000 in gross proceeds, which were deposited into a trust account. The company also completed a private placement of 4,266,667 warrants to the sponsor and underwriter at $1.50 per warrant, raising $6,400,000. The company has 24 months from the closing date (August 4, 2025) to complete a business combination, i.e., by August 4, 2027. The sponsor and insiders agreed to vote in favor of any business combination and not redeem shares, subject to lock-up provisions. No target has been identified. Why it matters: This filing establishes the baseline trust value (~$10.00 per share), the deal deadline, and the sponsor's conduct commitments. Investors can now track the trust balance, any extensions, and future business combination announcements against this initial setup.
What changed: Prospectus (424B4) for the initial public offering of HCM III Acquisition Corp., a blank check company (SPAC) formed to effect a business combination. The document sets forth the terms of the offering: 22,000,000 units at $10.00 per unit, each unit consisting of one Class A ordinary share and one-third of one redeemable warrant. It details the trust account, redemption rights, business combination deadline, sponsor and underwriter arrangements, conflicts of interest, risk factors, and the company's strategy to target technology and software infrastructure companies. No prior public filings; this is the initial IPO prospectus. It establishes the trust value at $10.00 per share, a 24-month deadline to complete an initial business combination (through August 2027), and describes sponsor founder shares purchased for $25,000 (~$0.003/share) and private placement warrants. The document also discloses the management team's track record with prior SPACs (HCM I merged with Murano Global Investments; HCM II announced merger with Terrestrial Energy) and includes extensive risk factors, including potential classification as an investment company. Why it matters: This filing defines all key terms for the SPAC: trust per-share value, redemption mechanics, deadline for a business combination, sponsor economics (substantial dilution potential), and the conditions under which public shareholders can redeem. Investors must assess these terms, the sponsor's incentives, and the risks (including PFIC, excise tax, and investment company risks) before investing.
What changed: A Form 8-A filing registering certain classes of securities pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934. The Registrant formally registers three security classes for The Nasdaq Stock Market LLC: units comprising one Class A ordinary share and one-third of one Redeemable Warrant; Class A ordinary shares with a par value of $0.0001 per share; and whole Redeemable Warrants exercisable for one Class A ordinary share at $11.50 per share. President and Chief Financial Officer Steven Bischoff executes the document on July 31, 2025. The text discloses no alterations to the stated redemption deadline, trust-per-share valuation, extension mechanics, combination timeline, or sponsor conduct. Why it matters: This registration completes the exchange-clearance step referenced in the Form S-1 initially filed on June 6, 2025, permitting daily trading of the listed instruments. It establishes the contractual packaging of fractional warrant rights alongside underlying equity but adds no commercial assertions, executive commentary, customer disclosures, revenue forecasts, market sizing, technology milestones, strategic partnerships, litigation filings, or leadership changes beyond the standard incorporation-by-reference clause. Because the instrument serves strictly as a listing formalization without adjusting capital structure, trust accounting, or operational milestones, it does not materially impact investor decision calculus.
What changed: A Form 3 insider ownership report filed to disclose initial beneficial ownership and statutory holding statements for HCM III Acquisition Corp. The filing records that Shawn Matthews (director, Chairman and CEO) and HCM Investor Holdings III, LLC (labeled a 10% owner and Sponsor) submitted zero non-derivative transactions and zero non-derivative holdings. Accordingly, the SPAC’s active search status, the documented $10 per share trust calculation, the 2027-08-04 redemption deadline, extension timelines, target business combination progress, and sponsor trading behavior remain entirely unaltered by this submission. Why it matters: For investors tracking the redemption calendar, trust mechanics, and sponsor conduct, this report confirms continuous Section 16 compliance and establishes a verified baseline for executive and sponsor equity positions without triggering dilution or tapping the trust account. The explicit statement that no non-derivative activity occurred indicates neither the sponsor nor the CEO has purchased, sold, or otherwise adjusted shares in a way that would impact shareholder redemption liquidity or alter the capital structure before the August 4, 2027 deadline. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, or litigation; all referenced figures—the $10 trust amount, the 10% ownership classification, and the 2027-08-04 cutoff date—are sourced directly from the provided filing text and issuer metadata, with no external calculations, rounding, or standardized trust assumptions applied.
What changed: A routine compliance exhibit: SEC Form 3 — insider ownership report filed by director Jacob Loveless for HCM III Acquisition Corp. The reporting person explicitly states "No non-derivative transactions or holdings reported." The document contains no updates regarding trust account mechanics, shareholder redemption rights, extension votes, or business combination negotiations. Why it matters: This filing establishes a regulatory baseline for director-level equity tracking during the SEARCHING phase. Because director Jacob Loveless reported zero non-derivative transactions or holdings, the document confirms that no tracked purchases, sales, or derivative exercises by this individual are currently reflected. While it does not alter the August 4, 2027 liquidation timeline, trust structure, or search status, it verifies administrative completeness and insider transparency ahead of any future target announcements. The filing mentions no customers, revenue, market size, technology, partnerships, or litigation.
What changed: A Form 3 initial statement of beneficial ownership reporting the insider equity position of director Goos Craig for HCM III Acquisition Corp. The filing declares no non-derivative transactions or holdings for the named director. There are no modifications to the trust per-share value, the August 4, 2027 redemption or business combination deadline, nor any disclosed sponsor capital contributions, extension proposals, or target advancement. Why it matters: This is a routine SEC registration submission accompanying the company's public listing. By formally confirming director compliance without reporting equity movement, it signals that the sponsor and insiders have not altered their positions relative to the trust reserve or search timeline. For investors monitoring the redemption window and extension mechanics, the filing leaves all economic assumptions and calendar constraints unchanged, though it establishes the baseline insider transparency required through the merger search phase.
What changed: Form 3 insider ownership report. The filing discloses zero non-derivative transactions or holdings for Director and Chief Financial Officer Steven Bischoff, establishing a clean reporting baseline with no recorded equity movement upon his statutory reporting obligation. Why it matters: For HCMA’s search phase extending to 2027-08-04, this submission does not alter redemption mechanics, trust distribution calculations, extension voting windows, or business combination progress. The absence of reported activity neither signals executive conviction nor indicates sponsor conduct that would affect capital structure or shareholder liquidity. The document contains no forward-looking statements, customer data, revenue figures, market sizing claims, technology disclosures, partnership announcements, litigation descriptions, or personnel updates, leaving all operational and strategic variables unchanged from prior disclosures.
What changed: routine compliance exhibit (SEC Form 3 initial statement of beneficial ownership). Per the filing submitted by director Richard Charles Donohoe, no non-derivative transactions or holdings were reported for HCM III Acquisition Corp. Why it matters: This regulatory disclosure contains no transaction data, share volumes, or price figures that could affect the SPAC’s trust account, per-share redemption floor, extension vote triggers, or acquisition timeline. It introduces no operational claims concerning customer pipelines, revenue trajectories, market sizing, strategic partnerships, or litigation exposure. The submission functions solely as a statutory compliance record confirming the director’s initial Section 16(a) reporting posture without advancing deal mechanics or altering sponsor conduct indicators.
What changed: Amendment No. 3 to a Form S-1 Registration Statement, filed exclusively as an exhibit-only submission to incorporate Exhibit 5.2, a Cayman Islands corporate validity opinion from Maples and Calder (Cayman) LLP. According to the explanatory note, the registrant states the amendment adds only the Cayman opinion letter, facing pages, Part II, and signatures, leaving the remainder of the registration statement unchanged. Item 15 records that on April 16, 2025 the sponsor paid $25,000 for 7,666,667 founder shares, and following a May 29, 2025 share recapitalization that issued 766,666 additional Class B ordinary shares, the sponsor now holds 8,433,333 founder shares valued at approximately $0.003 per share. The filing notes up to 1,100,000 of these shares will be surrendered depending on the underwriters’ over-allotment option, which covers 3,300,000 units out of a maximum offering size of 25,300,000 units priced at US$10 per Unit. Management states the sponsor and Cantor Fitzgerald & Co. agreed to purchase an aggregate of 4,266,667 private placement warrants at $1.50 per warrant for $6,400,000 in total, with the sponsor buying 3,533,333 warrants and Cantor buying 733,334 warrants, each exercisable at $11.50 per share. Item 14 attributes to the company the assertion that officers and directors have waived any right, title, interest, or claim in the trust account, retaining recourse only to the extent derived from public share ownership. Issuance expenses are itemized as $750,000 total, consisting of $300,000 legal fees, $40,000 printing and engraving, $40,000 trustee fees, $50,000 accounting fees, $61,120 SEC/FINRA expenses, $7,000 travel and road show expenses, $85,000 Nasdaq listing fees, and $166,880 miscellaneous costs. Why it matters: This filing does not alter the stated August 4, 2027 redemption deadline or the US$10 unit pricing, but it finalizes pre-effectiveness structural commitments. Per Item 14 and the attached legal certificate, the explicit trust account waiver by management removes non-public-share indemnification risk from shareholder redemption pools. The documented $6,400,000 private warrant commitment establishes sponsor alignment parallel to the lead underwriter representative’s purchase. Exhibit 16 includes consents naming Richard Donohoe, Craig Goos, and Jacob Loveless as director nominees, indicating board composition steps toward post-combination governance. As a routine compliance exhibit-only amendment, the filing satisfies Cayman authorization requirements and locks the 25% founder share ratio against the 25,300,000 unit ceiling without modifying trust administration mechanics, extension procedures, or redemption calendar dates.
What changed: A Rule 461 correspondence from lead underwriter Cantor Fitzgerald & Co. to the SEC Division of Corporation Finance requesting acceleration of the effective date for HCM III Acquisition Corp.’s amended Form S-1 registration statement. The filing requests that the registration statement become effective at 4:45 p.m. Eastern Time on July 31, 2025. This advances the IPO pricing and prospectus distribution timeline but does not alter the stated 2027-08-04 redemption deadline, modify the per-share trust amount, propose a trust extension, or indicate any business combination progress or sponsor conduct. Shareholder redemption mechanics and trust accounting remain unchanged until capital is actually raised and deposited. Why it matters: Acceleration locks the calendar for when SPAC proceeds enter the trust account, which directly sets the mathematical baseline for per-share redemption thresholds and subsequent dilution calculations. The document contains zero claims regarding target screening, customer metrics, revenue, market size, strategy, technology, partnerships, litigation, or personnel; it is strictly a procedural administrative letter. Investor attention must shift to the attached preliminary prospectus for substantive operational disclosures, as this filing only confirms execution timing.
What changed: An SEC correspondence (Rule 461 request) formally petitioning the Division of Corporation Finance to accelerate the effectiveness of HCM III Acquisition Corp.’s Form S-1 registration statement (File No. 333-287841). No mechanisms governing redemptions, trust valuation, extension deadlines, or sponsor conduct have been altered. This filing exclusively advances the anticipated capital markets timeline, requesting declaration of effectiveness at 4:45 p.m. Eastern Time on July 31, 2025. The company remains unlisted, with no public securities issued, no trust account funded, and no business combination target identified or disclosed. Why it matters: It signals active execution toward an initial public offering ahead of the stated August 4, 2027 shareholder deadline, but carries zero immediate impact on investor liquidity or redemption options. The document contains no strategic claims, customer disclosures, revenue projections, partnership announcements, or litigation details. Personnel references are limited to signatory Chief Financial Officer Steven Bischoff and external counsel King & Spalding LLP and Ellenoff Grossman & Schole LLP. Until pricing and listing occur, the filing is a procedural scheduling action rather than a development affecting trust mechanics or deal progress.
What changed: A regulatory correspondence letter (CORRESP) submitted to the U.S. Securities and Exchange Commission’s Division of Corporation Finance, formally responding to an oral comment received on July 28, 2025, and simultaneously transmitting a revised Form S-1/A that updates Exhibit 5.2. Chief Executive Officer and Chairman Shawn Matthews states the filing introduces no alterations to redemption timelines, trust mechanics, or extension voting procedures. The only adjustment reported is a revision to Exhibit 5.2 of the July 23, 2025 registration statement to accommodate SEC staff feedback, with legal counsel Kevin E. Manz, Esq. designated as the point of contact for further regulatory inquiries. Why it matters: The correspondence confirms ongoing SEC examination of the SPAC’s registration materials during its SEARCHING phase, indicating that technical or compliance-related modifications to Exhibit 5.2 are being processed rather than substantive deal announcements. Because no target acquisition, financing term sheet, or shareholder meeting date is disclosed, the filing does not advance merger timelines or trigger trust distribution mechanics. The company continues its search operations without reporting internal shifts, sponsor governance changes, or strategic pivots regarding real estate targets, construction pipelines, or partnership frameworks, leaving all pending regulatory steps tied to the July 23, July 28, and July 30, 2025 filings.
What changed: A corporate response letter (CORRESP) to an SEC Division of Corporation Finance comment letter regarding a Registration Statement on Form S-1/A for HCM III Acquisition Corp., functioning as a routine regulatory compliance filing addressing staff feedback on registration disclosures and exhibits. SEC Staff comments prompted targeted regulatory and mechanical adjustments: (1) Staff requested clarification under Item 1602(a)(3) of Regulation SK that cashless exercise of private warrants may result in material dilution to public stockholders; the Company acknowledged and revised the cover page. (2) Staff noted an opinion references up to 23.5 million units including overallotment, while the cover page currently reflects 22 million units plus up to 3.3 million for overallotments, totaling 25.3 million units, and demanded removal of blanket authorization assumptions; the Company acknowledged and revised Exhibit 5.1. (3) Staff required Exhibit 5.2 to register ordinary shares underlying warrants, remove ascertainable assumptions 2.10 and 2.12 from legality opinions, and delete certifications 3 and 4 from the attached Director’s Certificate; the Company acknowledged and revised. Staff also requested an updated auditors’ consent, which the Company uploaded. CEO and Chairman Shawn Matthews executed the response, directing inquiries to legal counsel Kevin E. Manz at 212-556-2133. Why it matters: This submission does not alter the SPAC’s redemption deadline, trust value, extension mechanics, or deal progress, as the company remains in the SEARCHING phase with no target identified or shareholder vote pending. The mechanical relevance is confined to registration preconditions: the disclosed cashless exercise dilution parameter establishes how private warrant conversions will interact with public equity before any trust deployment occurs, while confirming the exact unit caps (22 million base plus up to 3.3 million overallotment) finalizes the primary offering capital stack. Stripping assumption 2.10 and assumption 2.12 from legality opinions, alongside removing certifications 3 and 4 from the Director’s Certificate, purges stale boilerplate that could delay SEC clearance. Uploading a fresh auditors’ consent satisfies the statutory prerequisite checklist. Because no merger proxy, redemption window, or extension trigger is activated, the filing keeps the SPAC compliant but entirely static relative to shareholder exit rights, trust distributions, acquisition timelines, or sponsor conduct.
What changed: Amendment No. 2 to Form S-1 Registration Statement under the Securities Act of 1933 for HCM III Acquisition Corp., a blank-check Cayman Islands exempted company, filed July 23, 2025. It is a preliminary prospectus for an initial public offering of 22,000,000 units (plus a 45-day over-allotment option of up to 3,300,000 units) at $10.00 per unit, each unit consisting of one Class A ordinary share and one-third of one redeemable warrant. The document is not yet effective and the offering is subject to completion. This is the second amendment to the S-1, updating the prospectus with current information as of July 23, 2025. The filing refines disclosures on the IPO structure, the non-managing sponsor investors (26 institutions acquiring private placement warrants and founder interests), risk factors (including new SEC SPAC rules and Investment Company Act considerations), and updates on management's prior SPACs (HCM I and HCM II). The trust remains at $10.00 per share, and the deadline for a business combination is 24 months from the closing of this offering, with no specified calendar deadline but the user lists 2027-08-04 as the current estimate. Why it matters: HCM III Acquisition Corp. is a new SPAC raising up to $253 million (if over-allotment fully exercised) to search for a technology/software infrastructure target in financial services, real estate, or asset management. The filing details a complex sponsor structure with 26 institutional non-managing sponsor investors who will indirectly own about 49% of founder shares and about 75% of private placement warrants, creating alignment but also potential conflicts. Management has a track record: HCM I (MRNO) completed a business combination after high redemptions (83% of public shares redeemed), and HCM II (HOND) announced a merger with Terrestrial Energy. The prospectus highlights risks of dilution, the 24-month deadline, and the potential for the SPAC to be deemed an investment company. Key for investors: trust value is protected at $10, but redemptions could be high given the prior pattern.
What changed: A Division of Corporation Finance comment letter dated July 22, 2025, addressed to Chief Executive Officer Shawn Matthews regarding Amendment No. 1 to HCM III Acquisition Corp.’s Registration Statement on Form S-1. The filing does not amend the redemption deadline, alter the trust per share amount, propose an extension, announce a business combination, or reflect changes in sponsor conduct. Instead, the SEC staff outlines four compliance directives: (1) amend paragraph 7 to state that cashless exercise of private warrants may result in material dilution to public stockholders per Item 1602(a)(3) of Regulation S-K; (2) revise Exhibit 5.1 to reconcile a legality opinion referencing up to 23.5 million units with a cover page listing 22 million units plus up to 3.3 million for overallotments, yielding a stated total of 25.3 million units, and eliminate assumptions regarding document authorization; (3) update Exhibit 5.2 to include ordinary shares underlying the warrants, delete assumptions 2.10 and 2.12 from the Director’s Certificate, and remove certifications 3 and 4; and (4) submit an updated auditors’ consent in the subsequent filing. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel beyond the stated corporate officers and SEC contacts. Why it matters: This correspondence confirms the SEC is actively reviewing the IPO registration prior to effectiveness, a mandatory step before the SPAC can price its offering, secure trust account funding, and open any shareholder redemption period. The requested dilution disclosures, exhibit reconciliations, and auditor consent serve as procedural bottlenecks that typically postpone registration statement approval and, consequently, delay the initiation of merger negotiations and the deployment of capital toward acquisition targets. Until these comments are resolved, the company cannot finalize its public listing or begin its operational search. All references and numerical figures derive exclusively from the July 22, 2025, SEC Division of Corporation Finance letter.
What changed: A Response to Comments (CORRESP) letter transmitting revised prospectus pages following a July 3, 2025, request from the SEC Division of Corporation Finance staff, filed by the Company on July 11, 2025. The Company amended its draft registration statement to address SEC observations on trust mechanics, sponsor conduct, and capital structure. On trust mechanics, the SEC Staff queried whether interest could fund U.S. federal excise taxes; the Company responded that revised disclosure clarifies 'the Company many not withdraw interest from the trust account for the payment of excise taxes.' On redemption and extension tracking, the SEC mandated disclosure of each prior SPAC the sponsor and officers organized, requiring data on 'extensions of the time to complete the transaction' and 'the level of redemptions' alongside financing details. On sponsor conduct and deal incentives, the SEC required clarification that non-managing sponsor investors hold 'different interests than other public shareholders' and are 'incentivized to vote for a business combination due to their indirect interest in founder shares and their placement warrants.' The Company also committed to identifying all persons with direct or indirect material stakes in the sponsor and detailing director-compensation structures involving sponsor membership interests. Duplicate management biographies were deleted per Staff direction. Why it matters: These amendments finalize critical risk and control narratives before the offering closes, directly shaping how investors assess sponsor discipline, trust preservation, and equity dilution. Contractually barring interest withdrawals for excise taxes eliminates a potential drain on trust balance sheets, preserving capital for shareholder redemptions or merger consideration. Disclosing historical SPAC extension durations and redemption percentages establishes a verifiable baseline to evaluate whether HCM III’s sponsors repeat past delays or demand excessive deal concessions, directly informing the utility of the current search deadline as a leverage point for public holders. Highlighting that sponsor-affiliated investors are structurally motivated to approve transactions—even against public preference—signals potential downside for public holders if targets are suboptimal. Additionally, clarifying anti-dilution mechanics, cashless private warrant exercises, and warrant unit composition ('each unit contains on-third of one warrant') refines post-IPO liquidity expectations and equity percentage calculations. Updating fee disclosures and conflict-of-interest allocation rules among affiliated SPACs tightens insider alignment metrics and prevents future regulatory friction, ensuring the prospectus accurately reflects the economic incentives driving the search-phase strategy.
What changed: Amendment No. 1 to Registration Statement on Form S-1 for an initial public offering of units by a blank-check company that has not yet selected a business combination target. This Amendment No. 1 updates the preliminary prospectus with the filing date (July 11, 2025), adds the underwriting agreement, amended memorandum and articles, legal opinions, and director nominee consents as exhibits. It also adds forward-looking disclosure about the risk that the SPAC may be deemed an investment company under the Investment Company Act and states the company may instruct the trustee to liquidate trust investments into cash or a demand deposit account to mitigate that risk. Why it matters: The disclosure adds a new material risk: the company may liquidate trust investments into cash, which would reduce interest earned and the per-share amount public shareholders receive upon redemption or liquidation. It also provides full operating documents (underwriting agreement, charter) that define sponsor economics, founder-share conversion, and redemption mechanics. The filing signals the IPO is procedurally moving toward effectiveness, but provides no update on a business combination search.
What changed: SEC Division of Corporation Finance comment letter dated July 3, 2025, responding to HCM III Acquisition Corp.’s June 6, 2025 Form S-1 registration statement (File No. 333-287841). First, this document is an SEC comment letter mandating amendments to HCM III’s registration statement before acceleration can occur. Second, regarding mechanics: the SEC staff highlighted a structural discrepancy on page 9 stating Class B ordinary shares adjust so convertible Class A shares equal “20% of the sum of all ordinary shares issued and outstanding,” while the cover page and other sections indicate a 25% interest upon conversion. The staff asked whether the company may withdraw interest for tax payments per page 26, and requested clarification on whether those withdrawals cover the U.S. federal excise tax risk disclosed on page 89 if triggered. On sponsor conduct and alignment, referencing pages 37 and 146, the staff noted disclosures that the sponsor, officers, or directors may sponsor or form other SPACs or pursue other ventures, and requested clarification on how target acquisition opportunities will be allocated across those entities. Citing page 18 and 19, the staff requested clarification that non-managing sponsor investors will be incentivized to approve a business combination due to their indirect interest in founder shares and placement warrants rather than merely holding different interests. For prior execution visibility affecting redemption expectations, directing management to page 108 and 140, the staff demanded disclosure of each prior SPAC sponsor, officer, and director has organized, requiring specifics on any extensions granted, redemption levels associated with those extensions, and details on completed business combinations including financing needed and redemption levels. On capital structure, the staff flagged page 36’s reference to paying finder’s fees, advisory fees, consulting fees, success fees or salaries to sponsor, officers, directors or affiliates, while noting elsewhere these are limited to independent directors, and asked whether cashless exercise of private warrants may cause material dilution alongside anti-dilution adjustments. Regarding trading mechanics, citing page 14’s statement that investors must purchase at least two units to trade a whole warrant versus the unit containing one-third of one warrant, the staff requested revision. On ownership transparency, requesting revisions to page 112 and 143, the staff asked for identification of all persons with a direct or indirect material interest in the SPAC sponsor, the nature and amount of those interests, and independent director membership interests under Item 402(r)(3). The SEC explicitly reminded HCM III that company and management remain responsible for disclosure accuracy notwithstanding any SEC review, action, or absence thereof. Why it matters: These comments delay registration effectiveness and force granular transparency on sponsor track record, historically forcing the manager to quantify prior extension usage and redemption rates—direct inputs for modeling capital preservation and target-acquisition discipline. Clarifying the 20% versus 25% conversion math and tax-withdrawal boundaries shapes the actual net proceeds flowing to the trust and available for combination financing. Demands for allocation protocols among multiple SPACs and explicit documentation of sponsor/independent director equity stakes address classic agency risks that often trigger misaligned voting behavior during redemption windows. Until amendments are cleared, the July 3, 2025 letter freezes acceleration requests, extending the pre-effective timeline without altering the August 4, 2027 deadline.
What changed: Registration statement on Form S-1 for the initial public offering of HCM III Acquisition Corp., a blank check company incorporated to effect a merger or similar business combination. No target has been selected. Initial filing. Sets IPO terms: 22,000,000 units at $10.00/unit ($220M, $253M if overallotment exercised). Each unit: one Class A ordinary share + one-third of one redeemable warrant ($11.50 exercise). Trust account funded with $10.00 per unit. Deadline to complete business combination: 24 months from closing (or earlier board-approved date). Sponsor (HCM Investor Holdings III, LLC) holds 8,433,333 founder shares purchased for $25,000 (~$0.003/share). Sponsor and Cantor commit to purchase 4,266,667 private placement warrants at $1.50/warrant ($6.4M aggregate). Non-managing sponsor investors may indirectly purchase 3,200,000 private placement warrants and receive membership interests in sponsor for 4,168,333 founder shares. Public shareholders have redemption rights at trust value (initially $10.00) upon business combination. 15% redemption cap if shareholder vote used. Founder shares locked up 1 year post-business combination (or earlier if price ≥$12 for 20/30 days after 150 days). Private placement warrants locked up 30 days. Sponsor to provide up to $300,000 loan for offering expenses. Monthly administrative fee of $15,000 to sponsor affiliate. No target selected; focus on technology/software infrastructure for financial services, real estate, asset management. Why it matters: Establishes all core SPAC mechanics for investor evaluation: trust value, redemption terms, deadline, sponsor economics (nominal founder share cost creates strong incentive to close any deal), potential dilution from founder shares and warrants, and conflict-of-interest disclosures. The 24-month deadline is standard. The 15% redemption cap and non-managing sponsor investor structure (which could reduce public float and create aligned voting incentives) are notable features. The management team's track record (HCM I closed with MRNO after 83% redemptions; HCM II announced Terrestrial Energy deal) provides context but not a guarantee.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.