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Rhea‑AI Summary
ITHAX Acquisition Corp III (ticker: ITHA / ITHAU units) priced an initial public offering of 20 million units at $10.00 per unit, generating gross proceeds of $200 million. The units are slated to begin trading on the Nasdaq Global Market under the symbol ITHAU on December 12 2025. Each unit comprises one Class A ordinary share and one‑half of a redeemable warrant; a full warrant allows the holder to purchase one Class A share at $11.50. Underwriters received a 45‑day option to purchase up to 3 million additional units. The SEC declared the registration statement effective on December 11 2025.
The sponsor, Orestes Fintiklis, founder of Ithaca Capital Partners, serves as chief executive officer, chief financial officer and chairman. ITHAX is a blank‑check company formed to seek a merger or other business combination, with an initial focus on asset management, leisure, hospitality, travel, entertainment, gaming, lifestyle and related services, all driven by next‑generation technologies such as artificial intelligence and digital assets.
Positive
- Strong capital raise of $200 million provides ample runway for a strategic acquisition.
- Nasdaq listing expected to commence on December 12 2025, enhancing visibility.
- Warrants priced at a $11.50 strike offer potential upside for investors if the post‑combination stock appreciates.
Negative
- As a SPAC, ITHAX has no operating business at the time of the IPO, making its valuation highly speculative.
- Founder Orestes Fintiklis holds multiple senior roles (CEO, CFO, chairman), which could raise governance concerns.
- Underwriters’ 45‑day overallotment option for up to 3 million units (15% of the offering) may dilute early investors.
NEW YORK, Dec. 11, 2025 (GLOBE NEWSWIRE) – ITHAX Acquisition Corp III, a newly formed blank‑check vehicle, announced the pricing of its initial public offering of 20 million units at $10.00 per unit. The units will trade on the Nasdaq Global Market under the ticker ITHAU starting December 12, 2025.
The sponsor, Orestes Fintiklis, founder of Ithaca Capital Partners, will serve as chief executive officer, chief financial officer and chairman of the company.
ITHAX was created to pursue a merger, capital‑stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. While the SPAC is permitted to consider targets in any sector, its current strategic focus is on businesses operating in asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services that are leveraging next‑generation technologies such as artificial intelligence and digital assets.
Each unit consists of one Class A ordinary share and one‑half of a redeemable warrant. A full warrant entitles the holder to purchase one Class A share at an exercise price of $11.50. After the securities begin trading separately, the Class A shares and redeemable warrants are expected to be listed on Nasdaq under the symbols ITHA and ITHAW, respectively.
Cantor Fitzgerald & Co. serves as sole book‑running manager. The underwriters have been granted a 45‑day option to purchase up to an additional 3 million units at the offering price to satisfy any over‑allotments.
The offering is being made solely by means of a prospectus. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 11, 2025. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such an offer would be unlawful.
Forward‑Looking Statements
This release contains forward‑looking statements regarding the IPO and the anticipated use of net proceeds. Actual results may differ materially due to risks and uncertainties, including those detailed in the Risk Factors section of the registration statement and preliminary prospectus filed with the SEC. The company is not obligated to update any forward‑looking statements, except as required by law.
About ITHAX Acquisition Corp III
ITHAX Acquisition Corp III is a newly organized blank‑check company sponsored by Orestes Fintiklis, founder of Ithaca Capital Partners, a private‑equity manager. The SPAC seeks to combine with a target that can benefit from digital transformation and emerging technology trends.
FAQ
What did ITHAX Acquisition Corp III price in its December 11, 2025 IPO?
ITHAX priced 20 million units at $10.00 per unit, generating gross proceeds of $200 million.
When will ITHAX units (ITHAU) begin trading on Nasdaq?
Trading is expected to start on the Nasdaq Global Market under the ticker ITHAU on December 12 2025.
What securities does each ITHAX unit include and what is the warrant exercise price?
Each unit includes one Class A ordinary share and one‑half of a redeemable warrant; a full warrant can be exercised at $11.50 per share.
How large is the underwriters’ overallotment for the ITHAX IPO?
The underwriters have a 45‑day option to purchase up to 3 million additional units.
Who sponsors ITHAX Acquisition Corp III and what roles does the sponsor hold?
The sponsor is Orestes Fintiklis of Ithaca Capital Partners, serving as CEO, CFO and chairman.
What industries will ITHAX target for a business combination after the IPO?
The SPAC intends to focus on asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services, emphasizing next‑generation technologies such as AI and digital assets.
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