RP Investment Advisors group discloses 6.1% stake in HCM III (HCMA)

Rhea-AI Filing Summary

HCM III Acquisition Corp. reported a Schedule 13G showing coordinated holdings by RP Investment Advisors and affiliated funds. The filing lists combined shared dispositive and voting holdings across five related reporting persons, including 1,550,924 shares (6.1%) held in shared power by RP Investment Advisors and 25,300,000 shares outstanding as of May 14, 2026 cited for percentage calculations.

The statement is a joint filing by the advisor and four Funds that serve as the record owners; it clarifies ownership counts, voting/dispositive power allocations, and includes a Joint Filing Agreement signed on 06/24/2026.

Insights

Institutional Ownership Analyst

Large passive stake disclosed by RP-affiliated funds, with clear shared voting/dispositive power.

The filing shows 1,550,924 shares under shared voting and dispositive power attributed to RP Investment Advisors, representing 6.1% of the 25,300,000 outstanding shares noted as of May 14, 2026. The statement is a joint filing among the advisor and four Funds.

Ownership appears reported for disclosure purposes under Schedule 13G; cash‑flow treatment and plans for disposition are not stated in the excerpt. Subsequent filings would show any changes to these holdings.

Corporate Governance Specialist

Joint filing clarifies allocation of voting and dispositive authority across related entities.

The cover entries specify sole voting/dispositive power as 0 and shared voting/dispositive power for each Fund (examples: 894,150 and 326,325 shares). The filing includes a Joint Filing Agreement executed on 06/24/2026.

These disclosures identify who may influence shareholder votes; the document does not assert formation of an acquisition group or any coordinated sale program.

Key Figures

Shares outstanding used for percent: 25,300,000 shares RP Investment Advisors shared holdings: 1,550,924 shares RP Select Opportunities holdings: 894,150 shares +4 more

7 metrics

Shares outstanding used for percent 25,300,000 shares as of May 14, 2026

RP Investment Advisors shared holdings 1,550,924 shares reported shared voting/dispositive power

RP Select Opportunities holdings 894,150 shares shared voting/dispositive power

RP Debt Opportunities holdings 145,245 shares shared voting/dispositive power

RP Alternative Global Bond holdings 326,325 shares shared voting/dispositive power

RP Alternative Credit Opportunities holdings 185,204 shares shared voting/dispositive power

Joint Filing Agreement date 06/24/2026 signature date on Schedule 13G

Key Terms

Schedule 13G, shared dispositive power, beneficial owner, Joint Filing Agreement

4 terms

Schedule 13G regulatory

"This statement is jointly filed by and on behalf of each of RP Investment Advisors"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

shared dispositive power financial

"Shared Dispositive Power 1,550,924.00"

beneficial owner regulatory

"may be deemed to beneficially own securities owned by, the Funds"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Joint Filing Agreement legal

"Exhibit 99.1 Joint Filing Agreement (filed herewith)"

FAQ

What stake does RP Investment Advisors report in HCMA?

RP Investment Advisors reports shared voting and dispositive power over 1,550,924 shares, which the filing says represents 6.1% of HCM III Acquisition Corp.'s Class A ordinary shares. The percentage uses 25,300,000 shares outstanding as of May 14, 2026.

Which affiliated funds are included in the joint Schedule 13G for HCMA?

The joint filing lists RP Select Opportunities Master Fund Ltd., RP Debt Opportunities Fund Ltd., RP Alternative Global Bond Fund, and RP Alternative Credit Opportunities Fund as record owners, with RP Investment Advisors LP as the adviser and reporting co‑filing party.

Does the Schedule 13G indicate sole control of the shares?

No. The cover page shows sole voting and dispositive power of 0 for the reporting persons and reports the holdings under shared voting and shared dispositive power, indicating collective or shared control rather than sole control.

What date is used to calculate the ownership percentages in the filing?

Percentages reported (for example, 6.1%) are calculated using 25,300,000 Class A ordinary shares outstanding as of May 14, 2026, as cited in the filing's explanatory comments referencing the issuer's Form 10‑Q.

Were any sales, purchases, or disposition plans disclosed in the Schedule 13G?

No transactional plans are disclosed. The filing is a joint ownership statement listing holdings and voting/dispositive allocations; it does not describe purchases, sales, or intended dispositions in the provided excerpt.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 06/24/2026 - 02:21 PM Accepted by SEC EDGAR 06/24/2026 - 02:20 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

HCM III ACQUISITION CORP.

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

G4365E103

(CUSIP Number)

05/15/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G4365E103

1

Names of Reporting Persons

RP Investment Advisors LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,550,924.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,550,924.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,550,924.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.1 %

12

Type of Reporting Person (See Instructions)

PN, IA, FI

Comment for Type of Reporting Person: Based upon 25,300,000 Class A ordinary shares outstanding, as reported by the Issuer in its current report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2026.

SCHEDULE 13G

CUSIP Number(s): G4365E103

1

Names of Reporting Persons

RP Select Opportunities Master Fund Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 894,150.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 894,150.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

894,150.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.5 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Based upon 25,300,000 Class A ordinary shares outstanding, as reported by the Issuer in its current report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2026.

SCHEDULE 13G

CUSIP Number(s): G4365E103

1

Names of Reporting Persons

RP Debt Opportunities Fund Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 145,245.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 145,245.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

145,245.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.6 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Based upon 25,300,000 Class A ordinary shares outstanding, as reported by the Issuer in its current report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2026.

SCHEDULE 13G

CUSIP Number(s): G4365E103

1

Names of Reporting Persons

RP Alternative Global Bond Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 326,325.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 326,325.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

326,325.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.3 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Based upon 25,300,000 Class A ordinary shares outstanding, as reported by the Issuer in its current report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2026.

SCHEDULE 13G

CUSIP Number(s): G4365E103

1

Names of Reporting Persons

RP Alternative Credit Opportunities Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 185,204.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 185,204.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

185,204.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.7 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Based upon 25,300,000 Class A ordinary shares outstanding, as reported by the Issuer in its current report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: HCM III ACQUISITION CORP.
(b)	Address of issuer's principal executive offices: 100 FIRST STAMFORD PLACE, #330, STAMFORD, CONNECTICUT, 03902
Item 2.
(a)	Name of person filing: This statement is jointly filed by and on behalf of each of RP Investment Advisors LP, RP Select Opportunities Master Fund Ltd., RP Debt Opportunities Fund Ltd., RP Alternative Global Bond Fund and RP Alternative Credit Opportunities Fund (the "Funds"). RP Select Opportunities Master Fund Ltd., RP Debt Opportunities Fund Ltd., RP Alternative Global Bond Fund and RP Alternative Credit Opportunities Fund (the "Funds") are the record and direct beneficial owners of the securities covered by this statement. RP Investment Advisors LP is the investment advisor of, and may be deemed to beneficially own securities owned by, the Funds. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement. Each of the reporting persons may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of Section 13(d) or 13(g) of the Act. Each of the reporting persons declares that neither the filing of this statement nor anything herein shall be contrued as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the reporting persons is 39 Hazelton Avenue, Toronto, Ontario, Canada, M5R 2E3.
(c)	Citizenship: See Item 4 on the cover page(s) hereto.
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.0001 per share
(e)	CUSIP Number(s): G4365E103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 on the cover page(s) hereto.
(b)	Percent of class: See Item 11 on the cover page(s) hereto.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

RP Investment Advisors LP

Signature:	/s/ Richard Pilosof
Name/Title:	Richard Pilosof, Chief Executive Officer, RP Investment Advisors LP by its General Partner RP Investment Advisors GP Inc.
Date:	06/24/2026

RP Select Opportunities Master Fund Ltd.

Signature:	/s/ Richard Pilosof
Name/Title:	Richard Pilosof, Chief Executive Officer, RP Investment Advisors LP by its General Partner RP Investment Advisors GP Inc.
Date:	06/24/2026

RP Debt Opportunities Fund Ltd.

Signature:	/s/ Richard Pilosof
Name/Title:	Richard Pilosof, Chief Executive Officer, RP Investment Advisors LP by its General Partner RP Investment Advisors GP Inc.
Date:	06/24/2026

RP Alternative Global Bond Fund

Signature:	/s/ Richard Pilosof
Name/Title:	Richard Pilosof, Chief Executive Officer, RP Investment Advisors LP by its General Partner RP Investment Advisors GP Inc.
Date:	06/24/2026

RP Alternative Credit Opportunities Fund

Signature:	/s/ Richard Pilosof
Name/Title:	Richard Pilosof, Chief Executive Officer, RP Investment Advisors LP by its General Partner RP Investment Advisors GP Inc.
Date:	06/24/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement (filed herewith).