ITHAX Acquisition Corp. III Announces Pricing of $200 Million Initial Public Offering

Rhea-AI Summary

ITHAX Acquisition Corp III (Ticker: ITHA / ITHAU units) priced an initial public offering of 20,000,000 units at $10.00 per unit for gross proceeds of $200 million. Units are expected to begin trading on the Nasdaq Global Market under ITHAU on December 12, 2025. Each unit contains one Class A share and one-half redeemable warrant; each whole warrant is exercisable for one Class A share at $11.50. The company granted underwriters a 45-day option to purchase up to 3,000,000 additional units. The registration statement was declared effective by the SEC on December 11, 2025.

The sponsor is Orestes Fintiklis, founder of Ithaca Capital Partners, who serves as CEO, CFO and chairman. The company was formed as a blank check company to pursue a business combination, currently targeting sectors including asset management, leisure, hospitality, travel, entertainment, gaming, lifestyle and related services with technology focus.

Positive

• Gross proceeds of $200 million from the IPO
• Nasdaq listing expected to begin on December 12, 2025
• Warrants provide potential post-listing upside at $11.50 strike

Negative

• Company is a blank check entity with no operating business at IPO
• Sponsor holds multiple executive roles as CEO, CFO and chairman
• Underwriters have a 45-day overallotment option for up to 3,000,000 units (15%)

NEW YORK, Dec. 11, 2025 (GLOBE NEWSWIRE) -- ITHAX Acquisition Corp III (the “Company”), a newly incorporated blank check company, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “ITHAU” beginning December 12, 2025.

The Company is sponsored by Orestes Fintiklis, founder of Ithaca Capital Partners, who is also acting as Chief Executive Officer, Chief Financial Officer and Chairman of the Company.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry, it currently intends to concentrate its search for a target business operating in the asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services sectors, driven by next-generation technologies including AI and digital assets.

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin trading separately, the Company expects that the Class A ordinary shares and redeemable warrants will be listed on the Nasdaq under the symbols “ITHA” and “ITHAW,” respectively.

Cantor Fitzgerald & Co. is serving as sole book-running manager. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, New York, NY 10022, or by e-mail at prospectus@cantor.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on December 11, 2025. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. 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 and preliminary prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, 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.

About ITHAX Acquisition Corp III

ITHAX Acquisition Corp III (www.ithaxacquisition.com) is a newly organized blank check company sponsored by Orestes Fintiklis, founder of Ithaca Capital Partners, a private equity manager. Orestes Fintiklis was also sponsor and Chief Executive Officer of ITHAX Acquisition Corp.

Media Contact

Orestes Fintiklis
info@ithaxacquisition.com

FAQ

What did ITHAX Acquisition Corp III (ITHA) price in its December 11, 2025 IPO?

ITHAX priced 20,000,000 units at $10.00 per unit for gross proceeds of $200 million.

When will ITHAX units (ITHAU) begin trading on Nasdaq?

Units are expected to begin trading on the Nasdaq Global Market under ITHAU on December 12, 2025.

What securities does each ITHAX unit include and what is the warrant exercise price?

Each unit includes one Class A ordinary share and one-half of a redeemable warrant; each whole warrant is exercisable at $11.50 per share.

How large is the underwriters' overallotment for the ITHAX IPO?

The underwriters have a 45-day option to purchase up to 3,000,000 additional units to cover over-allotments.

Who sponsors ITHAX Acquisition Corp III and what roles does the sponsor hold?

The sponsor is Orestes Fintiklis of Ithaca Capital Partners, who is serving as CEO, CFO and chairman of the company.

What industries will ITHAX target for a business combination after the IPO?

The company intends to concentrate on asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services with a focus on next-generation technologies.