Core Viewpoint - ITHAX Acquisition Corp III has successfully closed its initial public offering, raising $230 million through the sale of 23 million units at $10.00 per unit, including an over-allotment option [1][6]. Company Overview - ITHAX Acquisition Corp III is a newly formed blank check company sponsored by Orestes Fintiklis, who serves as the CEO, CFO, and Chairman [2][10]. - The company aims to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination, focusing on sectors such as asset management, leisure, hospitality, catering, travel, entertainment, gaming, and lifestyle, leveraging next-generation technologies like AI and digital assets [3][10]. Financial Details - The offering consisted of 23,000,000 units, with gross proceeds amounting to $230 million, which will be placed in the company's trust account [1][6]. - Each unit comprises one Class A ordinary share and one-half of one redeemable warrant, with whole warrants allowing the purchase of one Class A ordinary share at $11.50 [4]. Trading Information - The units began trading on the Nasdaq Global Market under the ticker symbol "ITHAU" on December 12, 2025 [2]. - Once the securities begin trading separately, the Class A ordinary shares and redeemable warrants are expected to be listed under the symbols "ITHA" and "ITHAW," respectively [4]. Management and Sponsorship - The company is sponsored by Orestes Fintiklis, who is also the founder of Ithaca Capital Partners, a private equity manager [10]. - Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering [5].
ITHAX Acquisition Corp III Announces Closing of $230 Million Initial Public Offering