HCM Acquisition Corp Announces Pricing of $250 Million Initial Public Offering

Rhea-AI Summary

HCM Acquisition Corp has priced its initial public offering (IPO) of 25,000,000 units at $10.00 each, with trading on Nasdaq commencing January 21, 2022, under the symbol "HCMAU." Each unit comprises one Class A ordinary share and one-half warrant, with the whole warrant allowing the purchase of one Class A share at $11.50. Cantor Fitzgerald & Co. is the sole bookrunner and has a 45-day option to purchase an additional 3,750,000 units. The company aims to acquire established businesses in the financial services sector offering disruptive technologies.

Positive

• Initial public offering priced at $10.00 per unit.
• Potential to raise up to $275 million with additional units.
• Focus on acquiring established businesses in the financial services industry.

Negative

• None.

STAMFORD, Conn., Jan. 20, 2022 (GLOBE NEWSWIRE) -- HCM Acquisition Corp (the “Company”), a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, announced today that it has priced its initial public offering of 25,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market ("Nasdaq") and will begin trading tomorrow, January 21, 2022, under the ticker symbol "HCMAU." 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 under the symbols “HCMA” and “HCMAW,” respectively.

Cantor Fitzgerald & Co. is acting as sole bookrunner for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,750,000 units at the initial public offering price to cover over-allotments, if any.

The Company intends to focus on identifying businesses which provide disruptive technology or innovations within the financial services industry. The Company’s efforts will be focused on acquiring established businesses that it believes are fundamentally sound, but in need of assistance to maximize their potential value. The Company is led by Shawn Matthews, Chairman and Chief Executive Officer; and James Bond, President and Chief Financial Officer.

The public offering is being made only by means of a prospectus. When available, 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 prospectus@cantor.com.

A registration statement relating to the securities was filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on January 20, 2022. 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.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements”. 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's registration statement filed with the SEC and the preliminary prospectus included therein. Copies of these documents are available on the SEC's 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.

About HCM Acquisition Corp

HCM Acquisition Corp is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on identifying businesses which provide disruptive technology or innovations within the financial services industry. The Company’s efforts will be focused on acquiring established businesses that it believes are fundamentally sound, but in need of assistance to maximize their potential value.

Media Contact:
James Bond
jbond@hondiuscapital.com

FAQ

What is the price of HCM Acquisition Corp's initial public offering?

The initial public offering is priced at $10.00 per unit.

When will HCM Acquisition Corp start trading on Nasdaq?

HCM Acquisition Corp will begin trading on Nasdaq on January 21, 2022.

What does each unit of HCM Acquisition Corp consist of?

Each unit consists of one Class A ordinary share and one-half of a redeemable warrant.

What are the symbols for HCM Acquisition Corp's shares and warrants?

The Class A ordinary shares trade under the symbol 'HCMA' and the warrants under 'HCMAW.'

Who is acting as the underwriter for HCM Acquisition Corp's IPO?

Cantor Fitzgerald & Co. is the sole bookrunner for the offering.