SPACs Go For the Three-Peat: ITHAX III and Twelve Seas III Raise $350M in New IPOs
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TWELVE SEAS AND ITHAX LAUNCH THIRD ITERATIONS WITH NEW IPOS
The SPAC market sees two repeats launch today as ITHAX Acquisition Corp III and Twelve Seas Investment Co III begin trading following their IPO pricing.
Ithax Acquisition Corp III priced a $200 million initial public offering of 20 million units at $10.00 per unit. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 per share. The company is led by Orestes Fintiklis, founder of Ithaca Capital Partners, who serves as CEO, CFO, and Chairman. Ithax continues its sponsor’s sector focus on asset management, leisure, hospitality, travel, entertainment, gaming, lifestyle, and related services, particularly those driven by next-generation technologies.
Twelve Seas Investment Co III priced a $150 million IPO of 15 million units at $10.00 per unit. Similar to Ithax, each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 per share. The company intends to pursue a global business combination, specifically emphasizing established, profitable enterprises outside the United States, including potential oil and gas opportunities. This marks the third SPAC effort for CEO and Director Dimitri Elkin and CFO Jonathan Morris, with Elkin having previously served in senior private equity roles at KKR and UFG.
SPAC VOTE RESULTS
ALSAF – ALPHA STAR ACQUISITION CORP * Extend to Dec 15, 2026
EXTENSION VOTES
BAYA – BAYVIEW ACQUISITION CORP * extend from December 19, 2025 to June 19, 2026
BOWN – BOWEN ACQUISITION CORP * extend from December 14, 2025 to June 14, 2026
RDAC – RISING DRAGON ACQUISITION CORP * extend from January 15, 2026 to July 15, 2026
WELNF – INTEGRATED WELLNESS ACQUISITION CORP * extend from December 15, 2025 to March 16, 2026
SEPARATE WARRANTS/RIGHTS
Dec 15: HARVARD AVE ACQUISITION CORP (HAVA)
Dec 15: MILUNA ACQUISITION CORP (MMTX)
Dec 09: CROWN RESERVE ACQUISITION CORP I (CRAC)
OTHER SPAC NEWS
CLRCF – CLIMATEROCK * Confirmed Trust * trust $12.71
HSPO – HORIZON SPACE ACQUISITION I CORP * Delisting
FSHP – FLAG SHIP ACQUISITION CORP * Merger Agreement Amendment
NEW SPAC IPOs
Dec 12: ITHA – Ithax Acquisition Corp III $200M IPO
Dec 12: TWLV – Twelve Seas Investment Co IIII $150M IPO
Dec 11: KBON – Karbon Capital Partners Corp. $300M IPO
Dec 11: BLRK – Bluerock Acquisition Corp. $150M IPO
Dec 10: MESH – Meshflow Acquisition Corp $300M IPO
Dec 09: DSAC – Daedalus Special Acquisition Corp. $225M IPO (+underwriter overallotment: $25M)
Dec 05: LFAC – Leapfrog Acquisition Corp $125M IPO (+underwriter overallotment: $18.75M)
Dec 04: SAC – Safeguard Acquisition Corp. $200M IPO (+underwriter overallotment: $30M)
Dec 04: NWAX – New America Acquisition I Corp. $300M IPO (+underwriter overallotment: $45M)
Dec 04: AEAQ – Activate Energy Acquisition Corp. $200M IPO (+underwriter overallotment: $30M)
Dec 03: SBXE – Silverbox Corp V $240M IPO (+underwriter overallotment: $36M)
Dec 03: GPAC – General Purpose Acquisition Corp. $200M IPO (+underwriter overallotment: $30M)
Dec 02: BIXI – Bitcoin Infrastructure Acquisition Corp Ltd. $200M IPO (+underwriter overallotment: $20M)
SPAC Movers
YESTERDAY’S TOP SPAC GAINERS
4.8% ~ $ 14.68 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
3.3% ~ $ 35.85 | AFJK – AIMEI HEALTH TECHNOLOGY CO LTD (Announced)
2.7% ~ $ 11.50 | BKHA – BLACK HAWK ACQUISITION CORP (Announced)
2.0% ~ $ 10.89 | MBAV – M3-BRIGADE ACQUISITION V CORP (Announced)
1.0% ~ $ 11.00 | EURK – EUREKA ACQUISITION CORP (Announced)
YESTERDAY’S TOP SPAC LOSERS
-22.7% ~ $ 13.00 | ASPC – ASPAC III ACQUISITION CORP (Announced)
-19.0% ~ $ 12.17 | HSPO – HORIZON SPACE ACQUISITION I CORP (Pre-Deal)
-9.9% ~ $ 9.66 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
-8.8% ~ $ 11.66 | ESHA – ESH ACQUISITION CORP (Announced)
-1.9% ~ $ 11.15 | SPKL – SPARK I ACQUISITION CORP (Pre-Deal)
LATEST SPAC IPO PERFORMANCE
Dec 12 | ITHA – ITHAX Acquisition Corp III
Dec 12 | TWLV – Twelve Seas Investment Co III
Dec 11 | KBON – Karbon Capital Partners Corp.
Dec 11 | BLRK – Bluerock Acquisition Corp.
Dec 10 | MESH – Meshflow Acquisition Corp
Dec 09 | DSAC – Daedalus Special Acquisition Corp.
Dec 05 | $ 10.02 | LFAC – Leapfrog Acquisition Corp
Dec 04 | $ 10.10 | SAC – Safeguard Acquisition Corp.
Dec 04 | $ 10.02 | AEAQ – Activate Energy Acquisition Corp.
Dec 04 | $ 10.30 | NWAX – New America Acquisition I Corp.
Dec 03 | $ 10.00 | GPAC – General Purpose Acquisition Corp.
Dec 03 | $ 10.15 | SBXE – SilverBox Corp V
Dec 02 | $ 10.01 | BIXI – Bitcoin Infrastructure Acquisition Corp Ltd.
Nov 26 | $ 10.06 | SCII – SC II Acquisition Corp
Nov 25 | $ 10.02 | IGAC – Invest Green Acquisition Corp
Nov 21 | $ 10.03 | HCAC – Hall Chadwick Acquisition Corp
Nov 13 | $ 10.04 | ALUB – Alussa Energy Acquisition Corp. II