Chenghe Acquisition III Co. Announces Closing of $126.5 Million Initial Public Offering, Including Full Exercise of the Underwriter’s Overallotment Option

Company Overview - Chenghe Acquisition III Co. is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands, aimed at executing mergers, share exchanges, asset acquisitions, and similar business combinations with one or more businesses [5] - The company intends to focus its acquisition efforts on growing companies in Asian markets or global companies with a presence or focus in Asia [5] Initial Public Offering (IPO) Details - The company closed its initial public offering of 12,650,000 units at a price of $10.00 per unit, resulting in total gross proceeds of $126.5 million [1] - The offering included 1,650,000 units from the full exercise of the overallotment option granted to the underwriter [1] - The units are listed for trading on the Nasdaq Global Market under the ticker symbol "CHECU," with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant [1] - Each whole warrant will allow the holder to purchase one Class A ordinary share at a price of $11.50 per share, becoming exercisable 30 days after the completion of the initial business combination [1] Use of Proceeds - The net proceeds from the offering and a simultaneous private placement of units will be used to pursue and consummate a business combination with one or more businesses [2]