Ithax Acquisition Iii Stock Price, News & Analysis
Company Description
ITHAX Acquisition Corp III (ticker: ITHA) is a special purpose acquisition company (SPAC), also known as a blank check company. According to company disclosures, it 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. Its securities are associated with the Nasdaq Global Market, where its units began trading under the symbol ITHAU, with the Class A ordinary shares and redeemable warrants expected to trade separately under the symbols ITHA and ITHAW.
The company states that, while it may pursue an initial business combination target in any industry, it currently intends to concentrate its search on a target business operating in the asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services sectors. It also notes a focus on businesses driven by next-generation technologies, including AI and digital assets. This sector focus defines the types of operating companies that ITHAX Acquisition Corp III aims to combine with through its business combination process.
As a SPAC, ITHAX Acquisition Corp III raised capital through an initial public offering of units. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. The company explains that only whole warrants are exercisable, and that each whole warrant entitles the holder to purchase one Class A ordinary share at a specified exercise price. The proceeds from the offering and a simultaneous private placement of warrants were placed in a trust account, as described in the company’s public communications.
ITHAX Acquisition Corp III is sponsored by an entity associated with Ithaca Capital Partners. The sponsor’s role is to organize the SPAC, participate in the offering structure, and support the search for a suitable business combination target, as outlined in the company’s announcements. The company’s structure and stated objectives are typical of blank check companies that seek to identify and merge with private operating businesses.
Business purpose and target sectors
The company explicitly states that its business purpose is to complete a business combination with one or more businesses. Its current intention is to focus on targets in asset management and in consumer-facing areas such as leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services. It also highlights an interest in businesses influenced by next-generation technologies, including AI and digital assets. This focus shapes the types of potential merger partners it may evaluate.
Because ITHAX Acquisition Corp III is a SPAC and not an operating company, it does not describe its own products or services in the way a traditional operating business would. Instead, its value proposition to investors is tied to its ability to identify, negotiate and complete a business combination with a target that aligns with its stated sector and technology focus.
Capital structure and units
In its public announcements, the company describes an initial public offering of units at a fixed price per unit. Each unit includes one Class A ordinary share and one-half of one redeemable warrant. The company notes that only whole warrants are exercisable, and that each whole warrant entitles the holder to purchase one Class A ordinary share at a defined exercise price. This structure is common among SPACs and is intended to provide investors with both equity exposure and warrant coverage linked to a potential future business combination.
The company further states that, once the securities comprising the units begin trading separately, the Class A ordinary shares and redeemable warrants are expected to be listed on Nasdaq under the symbols ITHA and ITHAW, respectively. Until that separation occurs, the units trade under the symbol ITHAU.
Trust account and use of proceeds
ITHAX Acquisition Corp III explains that the proceeds from its initial public offering, together with proceeds from a simultaneous private placement of warrants, were placed in a trust account. This is a structural feature of SPACs, designed to hold the funds raised until a business combination is completed or the company is liquidated in accordance with its governing documents and applicable law. The company has indicated that an audited balance sheet reflecting receipt of the proceeds and the establishment of the trust account would be included as an exhibit to a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.
Regulatory framework
The company’s securities are registered with the U.S. Securities and Exchange Commission, and a registration statement relating to these securities was declared effective by the SEC. The company notes that the offering was made only by means of a prospectus and that sales of the securities are subject to applicable securities laws and regulations in relevant jurisdictions. These disclosures outline the regulatory context in which ITHAX Acquisition Corp III operates as a blank check company.
FAQs about ITHAX Acquisition Corp III (ITHA)
- What is ITHAX Acquisition Corp III (ITHA)?
ITHAX Acquisition Corp III is a blank check company, also referred to as a special purpose acquisition company (SPAC). It was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
- What sectors does ITHAX Acquisition Corp III intend to target?
The company states that it intends to concentrate its search for a business combination target in the asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services sectors, with an emphasis on businesses driven by next-generation technologies, including AI and digital assets.
- How are ITHAX Acquisition Corp III’s securities structured?
According to company announcements, each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Only whole warrants are exercisable, and each whole warrant entitles the holder to purchase one Class A ordinary share at a stated exercise price.
- On which market do ITHAX Acquisition Corp III’s units trade?
The company has stated that its units commenced trading on the Nasdaq Global Market under the ticker symbol ITHAU. Once the securities comprising the units trade separately, the Class A ordinary shares and redeemable warrants are expected to be listed under the symbols ITHA and ITHAW, respectively.
- What is the purpose of the trust account mentioned by ITHAX Acquisition Corp III?
The company reports that the proceeds from its initial public offering and a simultaneous private placement of warrants were placed in a trust account. This trust account is intended to hold the funds raised until they are used in connection with a business combination or returned to investors in accordance with the company’s governing documents.
- How does ITHAX Acquisition Corp III plan to complete a business combination?
The company states that it was formed to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Specific transaction terms and targets are not detailed in the available information and would depend on future negotiations and approvals.
- Is ITHAX Acquisition Corp III limited to one specific industry?
The company notes that it may pursue an initial business combination target in any industry. However, it currently intends to focus its search on asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services sectors, particularly those influenced by next-generation technologies such as AI and digital assets.
- Where can investors find more detailed financial information about ITHAX Acquisition Corp III?
The company has indicated that an audited balance sheet reflecting the proceeds of the offering and private placement, and the establishment of the trust account, would be included as an exhibit to a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission. Additional details would be available in the company’s SEC filings and prospectus.