The IPO Buzz: HCM II Acquisition (HONDU) Raises $200 Million in SPAC  IPO

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 is expected to start trading today – Friday,  Aug. 16, 2024 – on the NASDAQ. 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. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.