HCM IV Acquisition Corp. 8-K

What Happened HCM IV Acquisition Corp. announced the closing of its initial public offering on February 13, 2026. The company sold 28,750,000 units at $10.00 per unit (including full exercise of a 3,750,000-unit over-allotment), generating gross proceeds of $287,500,000. Each unit consists of one Class A ordinary share and one-third of a redeemable warrant (each whole warrant exercisable for one share at $11.50). Simultaneously, the company completed a private sale of 4,666,667 warrants at $1.50 each to its Sponsor (HCM Investor Holdings IV, LLC) and the underwriter, raising $7,000,000. The company entered into underwriting, warrant, trustee, registration-rights, administrative and advisory agreements (including with Cantor Fitzgerald & Co., Continental Stock Transfer & Trust Company and Zenith Securities, LLC).

Key Details

• IPO: 28,750,000 units at $10.00 per unit; total gross proceeds $287,500,000 (includes $13,687,500 underwriter deferred discount).
• Private placement: 4,666,667 warrants sold at $1.50 each; gross proceeds $7,000,000; warrants are identical to public warrants.
• Trust account: $287,500,000 placed in a U.S.-based trust managed by Continental Stock Transfer & Trust Company; funds generally released only upon closing of an initial business combination or certain redemptions; limited interest permitted for taxes (less up to $100,000 for dissolution costs).
• Advisory fees: Zenith Securities will receive 0.50% of IPO proceeds (excl. over-allotment) for IPO advisory, 1.00% of IPO proceeds at closing of the initial business combination, and 1.50% of over-allotment proceeds at closing.

Why It Matters This 8-K confirms the company is capitalized and structured to pursue a business combination: substantial cash ($287.5M) is held in trust, limiting use until a qualifying deal or redemption events occur. The private placement warrants give the Sponsor and underwriter additional upside (and potential dilution) if exercised, and advisory fees reduce the net proceeds available for a deal. Retail investors should note the $11.50 warrant exercise price, the 24‑month window referenced for completing a business combination, and that the trust structure is designed to protect public investors’ funds until a transaction is completed or redemptions occur.