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Chenghe Acquisition III Co. Announces Closing of $126.5 Million Initial Public Offering, Including Full Exercise of the Underwriter's Overallotment Option

1. Chenghe Acquisition III closed IPO, raising $126.5 million. 2. Units listed on Nasdaq under the ticker CHECU. 3. Each unit includes one Class A share and redeemable warrants. 4. Proceeds will be used for potential business combinations. 5. Focus on Asian markets or global companies with Asia presence.

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FAQ

Why Bullish?

The successful IPO reflects investor confidence and offers substantial liquidity for future acquisitions, similar to previous SPACs that gained after successful offerings.

How important is it?

The IPO establishes financial groundwork and investor interest, crucial for future growth strategies in target markets.

Why Long Term?

The announced intentions for future acquisitions could yield substantial value over time, akin to how SPACs like Virgin Galactic performed post-acquisition.

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SPACVTIQDLPN
September 17, 2025 21:41 ET  | Source: Chenghe Acquisition III Co. SINGAPORE, Sept. 17, 2025 (GLOBE NEWSWIRE) -- Chenghe Acquisition III Co. (“the Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, announced today the closing of its initial public offering of 12,650,000 units at a price of $10.00 per unit, which includes 1,650,000 units pursuant to the full exercise of the overallotment option granted to the underwriter, resulting in total gross proceeds of the offering of $126.5 million. The units have been listed for trading on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CHECU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant, which becomes exercisable 30 days after the completion of the Company’s initial business combination, will entitle the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on Nasdaq under the symbols “CHEC” and “CHECW,” respectively. The Company intends to use the net proceeds from the offering and the simultaneous private placement of units to pursue and consummate a business combination with one or more businesses.  BTIG, LLC acted as sole book-running manager for the offering. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, or by email at ProspectusDelivery@btig.com, or by accessing the website of the Securities and Exchange Commission (“SEC”) at www.sec.gov. A registration statement relating to the securities has been filed with the SEC and was declared effective by the SEC on September 15, 2025, at 4:30 pm Eastern Standard Time. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Chenghe Acquisition III Co. The Company is a special purpose acquisition company incorporated under the laws of Cayman Islands for the purpose of effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations or similar business combinations with one or more businesses. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, it intends to focus its search on growing companies in Asian markets or global companies with a presence or focus in Asia. Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination and the anticipated use of the net proceeds from the offering. No assurance can be given that the Company will ultimately complete a business combination transaction in the sector it is targeting or at all. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Registration Statement on Form S-1 and prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Company Contact:        Chenghe Acquisition III Co.38 Beach Road #29-11South Beach TowerSingapore 189767Attn: Shibin WangEmail: shibin.wang@chenghecap.comTel: (65) 9851 8611

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