HCM II Acquisition Corp. (NASDAQ:HOND), a blank check company, announced today that it has successfully completed its initial public offering (IPO) and a concurrent private sale of warrants, resulting in significant funding placed into a trust account.
On Monday, the company finalized its IPO, issuing 23 million units, which includes 3 million units from the underwriter's over-allotment option, at $10.00 each. Each unit comprises one Class A ordinary share and half of one redeemable warrant, with each full warrant entitling the holder to purchase an additional Class A ordinary share at $11.50.
Simultaneously with the IPO, HCM II Acquisition Corp. also completed a private sale of 6.85 million warrants to its sponsor, HCM Investor Holdings, LLC, and Cantor Fitzgerald & Co., at a price of $1.00 per warrant, raising an additional $6.85 million.
The combined proceeds from the IPO and the private sale of warrants, totaling $231.15 million (which includes $10.72 million of the underwriter’s deferred discount), have been placed in a trust account with Continental Stock Transfer & Trust Company serving as the trustee.
An audited balance sheet dated today reflects the receipt of the proceeds from the IPO and the private sale. This financial milestone ensures that the company has the necessary capital to execute its strategic plans moving forward.
HCM II Acquisition Corp. is classified under the "blank checks" industry sector and is incorporated in the Cayman Islands with its principal executive offices located in Stamford, Connecticut.
The successful funding round marks a pivotal moment for the company, which is now poised to seek out merger or acquisition opportunities within the real estate and construction sectors.
This news is based on a statement from the company's SEC filing.
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