Stamford’s HCM Acquisition completes IPO

HCM Acquisition Corp. a Stamford-based special purpose acquisition company (SPAC), has closed on its initial public offering (IPO) of 28.7 million units, including 3.75 units issued pursuant to the full exercise of the underwriter of its over-allotment option.

According to the company, the units were sold at a price of $10.00 per unit. HCM Acquisition”™s units began trading on Jan. 21, 2022 on the Nasdaq Global Market under the symbol “HCMAU,” with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant.

SPACs, also known as blank check companies, are shell firms designed to merge with privately-owned companies and have them listed on stock exchanges. In a press statement, HCM said it “intends to focus on identifying businesses which provide disruptive technology or innovations within the financial services industry.” HCM Acquisition is led by Shawn Matthews, chairman and CEO, and James Bond, president and chief financial officer.