STOP THE WAR! Let’s support Ukraine Together

Hudson Executive Investment Corp. II (HCII) and III (HIII) to Liquidate

liquidation

Hudson Executive Investment Corp. II (HCII) and III (HIII) to Liquidate

Hudson Executive II (NASDAQ:HCII) and Hudson Executive III (NASDAQ:HIII) announced this morning that both will liquidate as neither will consummate a business combination by their original deadline.

Both will return $10.10 per share to public investors as the anticipated redemption rate with the distribution expected to occur on December 21.

Hudson Executive II raised $250 million in its January 2021 IPO, while Hudson Executive III raised $600 million a month later in February of that year.

Around that same time, the Hudson Executive team announced its first combination with text-based therapy provider Talkspace (NASDAQ:TALK). Talkspace fell swiftly after the parties completed the deal in June 2021, and its stock has never quite recovered, closing the year at $1.97 and trading at $0.79 Monday.

But, that doesn’t mean the team is done. Hudson Executive II and III hit the markets with team-friendly terms including a 24-month search window and no overfunding of the trust, but the team’s fourth vehicle, Hudson Executive I (NASDAQ:HUDAU) bears some of the features of SPACs listed in 2022.

It IPO’d (out of sequential order) on October 2022 with nine months on its clock and a $60.9 million trust overfunded at 101.5%. This SPAC has until next July to complete a deal and can auto-extend its deadline up to six months.

As such, the Hudson Executive team is still out hunting in the Searching column, albeit likely with somewhat smaller game in its sights.