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SINGAPORE - Chenghe Acquisition III Co., a newly formed special purpose acquisition company (SPAC), announced Wednesday the completion of its initial public offering, raising $126.5 million. The stock currently trades at $9.98, with an average daily trading volume of 4.86 million shares according to InvestingPro data.
The company sold 12.65 million units at $10 each, including 1.65 million units from the full exercise of the underwriter’s overallotment option. The units are trading on the Nasdaq Global Market under the ticker symbol "CHECU." Since its debut, the stock has maintained stability, trading within a narrow range of $9.98 to $10.01.
Each unit consists of one Class A ordinary share and half of one redeemable warrant. Each whole warrant, exercisable 30 days after the company completes its initial business combination, will allow holders to purchase one Class A ordinary share at $11.50.
The company expects its Class A ordinary shares and warrants will trade separately on Nasdaq under the symbols "CHEC" and "CHECW," respectively, once the securities begin separate trading. For investors interested in tracking SPAC performance metrics and detailed warrant analysis, InvestingPro offers comprehensive SPAC monitoring tools and real-time market data.
BTIG, LLC served as the sole book-running manager for the offering.
Chenghe Acquisition III, incorporated in the Cayman Islands, intends to use the proceeds to pursue a business combination. While the SPAC may pursue acquisition opportunities in any sector, it plans to focus on growing companies in Asian markets or global companies with an Asian presence.
The SEC declared the registration statement for the securities effective on September 15, 2025.
According to the press release statement, the offering was made only through a prospectus, with copies available from BTIG or through the SEC’s website.
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