Special purpose acquisition company HCM Acquisition Corp (Nasdaq: HCMAU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$250 million in its initial public offering.
The offering consists of 25.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable for one Class A common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “HCMAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “HCMA” and “HCMAW”, respectively.
The proposed offering is being managed by Cantor Fitzgerald & Co. as the sole bookrunner. The underwriters were granted a 45-day over-allotment option to purchase additional 3.75 million company units at the same IPO price.
The blank check company is led by alternative investment firm Hondius Capital Management alums Shawn Matthews and James Bond as CEO and president, respectively. The firm said it intends to search for businesses providing “disruptive technology or innovations within the financial services industry.”
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
