HCM II Acquisition Corp. (HONDU) priced its SPAC IPO in sync with the terms in the prospectus – 20 million units at $10.00 each – to raise $200 million on Thursday night, Aug. 15, 2024. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. HCM II Acquisition’s stock opened at $9.99 – 1 cent below its IPO price – today – Friday, Aug. 16, 2024 – on the NASDAQ. Volume on that opening trade totaled 881,500 shares, NASDAQ records showed.
Cantor was the sole book-runner.
HCM II Acquisition, based in Stamford, Connecticut, said its search for an acquisition or a business combination target will not be limited to any business or sector. Its search will focus on “an established business of scale poised for continued growth, led by a highly regarded management team.” This SPAC is incorporated in the Cayman Islands.
Shawn Matthews, chairman and CEO of HCM II Acquisition Corp., was the CEO of Cantor Fitzgerald & Co. from 2009 – 2018, the prospectus said. He is the founder and chief investment officer of Hondius Capital Management, an alternative investment firm founded in 2019.
Steven Bischoff, president and CFO of HCM II Acquisition Corp. , is also the chief operating officer (COO) of Hondius Capital Management. From 2003 – 2007, Bischoff worked for Cantor Fitzgerald, where he was hired as the head of fixed income trading and subsequently promoted to co-COO of capital markets, the prospectus said.
Matthews and Bischoff have worked together for over 15 years, the prospectus said.
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