ITHAX Acquisition Corp III

ITHAX Acquisition Corp III is a blank check company formed to complete a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses. It has no operating business of its own and is focused on sourcing, diligencing, and closing an acquisition using IPO proceeds, private placement warrants, and other financing sources.

— ITHAX Acquisition Corp III
%
SPAC formation and capital raising100% Formation of the shell company and raising capital through the IPO and private placement warrants.
Business combination execution0% Identifying, negotiating, and closing a merger or similar transaction with a target business.
Trust account and treasury management0% Managing IPO proceeds held in trust and related interest income until a transaction closes.

The company does not sell products or services to end customers today; its counterparties are investors, sponsors,...

  • Public market investorsprimary

    Buy units, shares, and warrants in the SPAC structure because they expect value from a future business combination.

  • Sponsor and private placement investorsprimary

    Provide seed capital and warrant financing to support formation and transaction costs.

  • Target operating businessesprimary

    Enter into a merger or similar transaction to access public markets and growth capital.

  • Underwriters and transaction advisorssecondary

    Support the IPO and eventual business combination through capital markets and diligence services.

ITHAX Acquisition Corp III is incorporated in the Cayman Islands, while the available filing context identifies the...

  • •Incorporated in the Cayman Islands
  • •Reported as a U.S.-based public filing entity
  • •No operating revenue geography yet because no business combination closed
  • •Future geographic exposure will depend on the acquisition target

The company’s strategy is to identify and complete a business combination with one or more operating businesses using...

01
Identify a suitable target businessshort-term

The SPAC has no operating revenue until it closes a transaction, so target selection is the core value-creation step.

02
Complete due diligence and transaction executionshort-term

Thorough diligence reduces the risk of overpaying or acquiring a weak business, which is critical in a SPAC structure.

03
Maintain liquidity and public-company readinessshort-term

The company must fund legal, accounting, and compliance costs while searching for a deal.

The main risk is that the company may fail to identify or complete a business combination within the required...

critical

Failure to complete a business combination

The company exists solely to acquire another business, so not closing a deal would leave it without operating assets.

Scope
All shareholders and warrant holders
Materiality
high
high

Liquidity pressure before closing a transaction

Legal, accounting, due diligence, and public-company costs must be funded while the company is still pre-revenue.

Scope
Operating cash and sponsor support
Materiality
high
high

Dilution from warrants and transaction financing

The capital structure may include warrants, sponsor shares, and additional financing that reduce per-share economics.

Scope
Post-combination equity holders
Materiality
medium
high

Target selection and valuation risk

A poor acquisition decision can destroy value if diligence misses operational or financial weaknesses.

Scope
Transaction outcome and future earnings power
Materiality
high
Trust account interest income
Affects reported earnings and liquidity presentation
Deferred underwriting discount
Creates a contingent liability tied to deal completion
Warrant and equity classification
Can materially affect balance sheet and fair value measurements
Transaction and formation costs
Drive net loss in the pre-combination period

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: 28/04/2026