| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|
| Net income | 1,724,603 | 1,850,172 | 342,819 |
| Payment of operating costs through promissory note | - | 0 | -47,545 |
| Interest earned on marketable securities held in trust account | 2,103,365 | 2,571,769 | 1,727,160 |
| Prepaid expenses | 60,133 | -25,907 | 14,191 |
| Prepaid insurance | -16,250 | -16,250 | 119,167 |
| Advisory fee payable - non-current | - | 1,204,500 | - |
| Accrued expenses | 237,512 | 549,889 | 39,942 |
| Net cash used in operating activities | -185,133 | 1,074,949 | -1,430,212 |
| Investment of cash into trust account | - | 0 | 253,000,000 |
| Net cash used in investing activities | - | 0 | -253,000,000 |
| Proceeds from sale of units, net of underwriting discounts paid | - | 0 | -248,600,000 |
| Proceeds from sale of private placements warrants | - | 0 | 6,400,000 |
| Repayment of promissory note - related party | - | 0 | 248,243 |
| Advisory fee payable - non-current | - | - | -1,204,500 |
| Payment of offering costs | - | 0 | 381,212 |
| Net cash provided by financing activities | - | -1,204,500 | 255,575,045 |
| Net change in cash and cash equivalents | -185,133 | -129,551 | 1,144,833 |
| Cash and cash equivalents beginning of period | 1,015,282 | - | 0 |
| Cash and cash equivalents end of period | 830,149 | 1,015,282 | 1,144,833 |
HCM III ACQUISITION CORP. (HCMAW)
HCM III ACQUISITION CORP. (HCMAW)