Every 10-Q that HCM III Acquisition Corp. (HCMA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HCMA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HCMA filings page.
HCM III Acquisition Corp., a Cayman Islands SPAC, reported net income of $1.6 million for the quarter and $3.3 million for the six months ended June 30, 2026, driven by $4.5 million of interest on U.S. Treasury securities held in its trust account, partly offset by $1.2 million of general and administrative expenses.
Total assets were $262.6 million, including $261.8 million in the trust account and $0.7 million in cash and cash equivalents. All 25,300,000 Class A public shares are classified as temporary equity at a redemption value of $10.35 per share, resulting in a shareholders’ deficit of $14.0 million.
The company had a working capital deficit of $747,185 and no operating revenues, as it has not yet completed a business combination. It must consummate an initial business combination by August 4, 2027 or liquidate, and management discloses substantial doubt about its ability to continue as a going concern without completing a transaction or obtaining additional financing.
HCM III Acquisition Corp. reported net income of $1.7 million for the quarter ended March 31, 2026, driven almost entirely by interest on the cash held in its trust account. The company is a blank check vehicle that has not yet begun operating a business.
General and administrative costs were modest at $387,273, while interest on marketable securities in the trust account totaled $2.1 million, reflecting the yield on the $259.4 million of funds set aside for a future business combination. Cash outside the trust account was $830,149, giving limited liquidity for search and operating expenses.
Management discloses substantial doubt about the company’s ability to continue as a going concern for at least 12 months without additional capital or completing a business combination. If it cannot close a deal within its defined completion window, it must liquidate and return trust funds to public shareholders.
HCM III Acquisition Corp. (HCMA) filed its Q3 2025 report, detailing its post-IPO balance sheet and SPAC structure. The company completed its Initial Public Offering on August 4, 2025, selling 25,300,000 units at $10.00 each, including the full over-allotment. Simultaneously, it sold 4,266,667 private placement warrants for $6.4 million.
As of September 30, 2025, $254,727,160 was held in the Trust Account, primarily in U.S. Treasury-focused money market funds, while cash outside the trust was $1,144,833. Transaction costs totaled $17,106,910, including a deferred underwriting fee of $12,045,000 and an advisory fee payable of $1,204,500. The quarter showed net income of $390,364, driven by $1,727,160 of interest on trust investments and advisory fee reimbursements, offset by advisory expense and operating costs.
Class A ordinary shares subject to possible redemption were recorded at $254,727,160 (25,300,000 shares at $10.07 per share). As of November 14, 2025, shares issued and outstanding were 25,300,000 Class A and 8,433,333 Class B.