Chenghe Acquisition III Co. Announces Closing of $126.5 Million Initial Public Offering, Including Full Exercise of the Underwriter’s Overallotment Option
Rhea-AI Summary
Chenghe Acquisition III Co. (NASDAQ:CHECU) has successfully completed its initial public offering, raising $126.5 million in gross proceeds through the sale of 12.65 million units at $10.00 per unit, including the full exercise of the underwriter's overallotment option.
Each unit comprises one Class A ordinary share and one-half of one redeemable warrant. Whole warrants will be exercisable 30 days after the business combination at $11.50 per share. The company's Class A ordinary shares and warrants will trade separately under the symbols CHEC and CHECW respectively. BTIG, LLC served as the sole book-running manager for this SPAC offering.
Positive
- Successfully raised $126.5 million in gross proceeds
- Full exercise of underwriter's overallotment option indicates strong investor demand
- Listing on Nasdaq Global Market provides strong trading visibility
Negative
- No specific target business identified yet for acquisition
- SPAC structure carries inherent risks of potential deal failure
- Warrant dilution potential at $11.50 exercise price
News Market Reaction – CHECU
In the Sep 18 session, CHECU gained 0.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SINGAPORE, Sept. 17, 2025 (GLOBE NEWSWIRE) -- Chenghe Acquisition III Co. (“the Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, announced today the closing of its initial public offering of 12,650,000 units at a price of
The Company intends to use the net proceeds from the offering and the simultaneous private placement of units to pursue and consummate a business combination with one or more businesses.
BTIG, LLC acted as sole book-running manager for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, or by email at ProspectusDelivery@btig.com, or by accessing the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov.
A registration statement relating to the securities has been filed with the SEC and was declared effective by the SEC on September 15, 2025, at 4:30 pm Eastern Standard Time. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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.
About Chenghe Acquisition III Co.
The Company is a special purpose acquisition company incorporated under the laws of Cayman Islands for the purpose of effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations or similar business combinations with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, it intends to focus its search on growing companies in Asian markets or global companies with a presence or focus in Asia.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination and the anticipated use of the net proceeds from the offering. No assurance can be given that the Company will ultimately complete a business combination transaction in the sector it is targeting or at all. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. 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 on Form S-1 and prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, at 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.
Company Contact:
Chenghe Acquisition III Co.
38 Beach Road #29-11
South Beach Tower
Singapore 189767
Attn: Shibin Wang
Email: shibin.wang@chenghecap.com
Tel: (65) 9851 8611
