HCM IV Acquisition Corp., a Cayman Islands-based special purpose acquisition company, completed its February 2026 IPO of 28,750,000 units at $10.00 per unit, raising $287.5 million. After offering costs, $287,500,000 was deposited into a Trust Account, which totaled $291,161,379 including interest as of June 30, 2026, invested mainly in U.S. Treasury Bills.
For the quarter ended June 30, 2026, the company reported net income of $1,889,014, driven by $2,650,081 of interest on Trust investments, offset by $770,227 of general and administrative costs. For the six-month period, it recorded a net loss of $1,057,842, largely due to a one-time $3,062,500 advisory fee expense and ongoing public-company costs.
HCM IV reported $814,444 in cash outside the Trust and a working capital deficit of $404,061. All 28,750,000 Class A shares are classified as redeemable at an aggregate redemption value of $291,161,379. Management states it has not yet identified a business combination target and discloses that limited liquidity and ongoing expenses raise substantial doubt about its ability to continue as a going concern without completing a business combination or securing additional financing.
The Goldman Sachs Group, Inc. and its subsidiary Goldman Sachs & Co. LLC report beneficial ownership of Class A ordinary shares of HCM IV Acquisition Corp. They disclose beneficial ownership of 1,485,647 Class A shares, representing 5.2% of the class.
Both entities report 0 shares with sole voting and dispositive power and 1,485,647 shares with shared voting and shared dispositive power
HCM IV Acquisition Corp., a newly formed SPAC, completed its initial public offering in February 2026 and is still in the pre‑deal stage. The company sold 28,750,000 units at $10.00 each, placing $287.5 million into a trust account invested mainly in U.S. Treasury Bills. As of March 31, 2026, trust assets totaled $288.5 million, reflecting interest income.
For the quarter ended March 31, 2026, HCM reported a net loss of $2.95 million, driven primarily by a $3.06 million advisory fee expense and $0.90 million of general and administrative costs, partially offset by $1.01 million of interest income on the trust investments. All 28,750,000 Class A ordinary shares are classified as redeemable at about $10.04 per share, leading to a shareholders’ deficit of $16.6 million.
The company held $1.02 million in cash and working capital of $338,881 outside the trust, which it uses for ongoing operating and deal‑search expenses. Management discloses that these limited resources raise substantial doubt about its ability to continue as a going concern for one year from issuance, absent completing a business combination or obtaining additional financing. No business combination target has yet been selected, and there are no revenues from operations at this stage.