The IPO Buzz: Crane Harbor Acquisition (CHACU) & Inflection Point III Raise $420 Million Total

Two SPACs – Crane Harbor Acquisition Corp. (CHACU) and Inflection Point Acquisition Corp. III (IPCXU)– raised a total of $420 million with the pricing of their IPOs on Thursday night, April 24, 2025. Both SPACs are expected to start trading today – Friday, April 25, 2025 – on the NASDAQ. Both SPACs are incorporated in the Cayman Islands. Cohen & Company Capital Markets and Jones served as the joint book-runners for Crane Harbor Acquisition’s $200 million IPO. Crane Harbor Acquisition priced 20 million units at $10.00 apiece – in sync with the terms in the prospectus. Each unit consists of one Class A ordinary share and one right to receive one-tenth (1/10th) of a share upon the consummation of an initial business combination. The technology, real assets and energy sectors will be in focus as Crane Harbor Acquisition searches for target companies – either for an acquisition or an initial business combination, according to the prospectus. Inflection Point Acquisition Corp. III (IPCXU) priced 22.0 million units at $10.00 apiece – the terms in the prospectus – and raised $220 million on Thursday night, April 24, 2025.Each unit consists of one share of Class A common stock and one right to receive one-tenth (1/10th) of one Class A ordinary share upon the consummation of an initial business combination. Cantor was the sole book-runner of Inflection Point Acquisition III’s SPAC IPO. Inflection Point Acquisition Corp. III intends “to focus our search initially on North American and European businesses in disruptive growth sectors, which complements the expertise of our management team,” according to the prospectus. Michael Blitzer has been the chairman and the CEO of Inflection Point Acquisition III since October 2024. He is the founder and co-CEO of Kingstown Capital Management, which he founded in 2006 and grew to a multi-billion asset manager with some of the world’s largest endowments and foundations as clients, the prospectus said. Over 18 years, Kingstown has invested in public and private equities, SPACs, PIPEs and derivatives. He began his Wall Street career at J.P. Morgan Securities in 1999, advising companies globally in private debt and equity capital raises. He subsequently worked at the investment fund Gotham Asset Management, which was founded by the author and investor Joel Greenblatt. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the  shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.