Chenghe Acquisition III Co. completed its IPO, raising $126.5 million for business acquisitions with units trading on Nasdaq.
Quiver AI Summary
Chenghe Acquisition III Co., a newly formed special purpose acquisition company based in the Cayman Islands, has successfully completed its initial public offering, raising $126.5 million by selling 12,650,000 units at $10.00 each, which included 1,650,000 units from an overallotment option. The units are now trading on the Nasdaq under the ticker symbol "CHECU." Each unit consists of one Class A ordinary share and a half redeemable warrant, with whole warrants being exercisable post the company’s initial business combination. Chenghe Acquisition III intends to use the proceeds to pursue mergers or acquisitions, primarily focusing on growing businesses in Asia or those with a strong presence in the region. The offering was managed by BTIG, LLC, and the registration statement for the securities is available on the SEC website.
Potential Positives
- The successful closing of the initial public offering raised a total of $126.5 million, providing significant funds for future business combinations.
- The units have been listed for trading on the Nasdaq Global Market under the ticker symbol "CHECU," which enhances the visibility and credibility of the company.
- The offering included the full exercise of the overallotment option, indicating strong demand from investors.
- The company's strategic focus on growing companies in Asian markets may position it well for future investment opportunities as these markets expand.
Potential Negatives
- The press release emphasizes that there is no assurance that the Company will successfully complete a business combination, highlighting uncertainty in future operations.
- It mentions numerous risks and uncertainties that could impact the Company's ability to execute its plans, which could undermine investor confidence.
- The focus on Asian markets may limit potential acquisition targets, presenting a risk if these markets underperform or face regulatory challenges.
FAQ
What is Chenghe Acquisition III Co.?
Chenghe Acquisition III Co. is a special purpose acquisition company formed in the Cayman Islands for business combinations.
How much did Chenghe Acquisition III Co. raise from its IPO?
The company raised $126.5 million from its initial public offering of 12,650,000 units.
When did the Chenghe Acquisition III Co. IPO close?
The IPO for Chenghe Acquisition III Co. closed on September 17, 2025.
What will the proceeds from the IPO be used for?
The proceeds will be used to pursue and consummate a business combination with one or more businesses.
What exchanges will Chenghe Acquisition III Co.'s shares trade on?
Shares will trade on the Nasdaq Global Market under the ticker symbols “CHEC” for shares and “CHECW” for warrants.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
SINGAPORE, Sept. 17, 2025 (GLOBE NEWSWIRE) -- Chenghe Acquisition III Co. (“the Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, announced today the closing of its initial public offering of 12,650,000 units at a price of $10.00 per unit, which includes 1,650,000 units pursuant to the full exercise of the overallotment option granted to the underwriter, resulting in total gross proceeds of the offering of $126.5 million. The units have been listed for trading on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CHECU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant, which becomes exercisable 30 days after the completion of the Company’s initial business combination, will entitle the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on Nasdaq under the symbols “CHEC” and “CHECW,” respectively.
The Company intends to use the net proceeds from the offering and the simultaneous private placement of units to pursue and consummate a business combination with one or more businesses.
BTIG, LLC acted as sole book-running manager for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, or by email at [email protected] , or by accessing the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov .
A registration statement relating to the securities has been filed with the SEC and was declared effective by the SEC on September 15, 2025, at 4:30 pm Eastern Standard Time. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Chenghe Acquisition III Co.
The Company is a special purpose acquisition company incorporated under the laws of Cayman Islands for the purpose of effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations or similar business combinations with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, it intends to focus its search on growing companies in Asian markets or global companies with a presence or focus in Asia.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination and the anticipated use of the net proceeds from the offering. No assurance can be given that the Company will ultimately complete a business combination transaction in the sector it is targeting or at all. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Registration Statement on Form S-1 and prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Chenghe Acquisition III Co.
38 Beach Road #29-11
South Beach Tower
Singapore 189767
Attn: Shibin Wang
Email:
[email protected]
Tel: (65) 9851 8611
