Helix Acquisition Corp. III IPO - What You Need to Know

Hey there! Thinking about dipping your toes into the Helix Acquisition Corp. III IPO? That's awesome! It can feel a bit like a maze out there with all the financial jargon, but don't worry, I'm here to break it down for you, just like I would for a friend. Let's get into what this company is all about and what you should keep in mind.

Just a heads-up, the information we're looking at comes from a preliminary filing dated December 5, 2025. This means it's a draft, and things could still change a bit before the final IPO. Also, this company is incorporated in the Cayman Islands, which is pretty common for SPACs.

1. What does this company actually do? (in plain English)

Okay, so this is a bit different from your usual company that sells products or services. Helix Acquisition Corp. III is what's called a "SPAC" (pronounced "spack"), which stands for Special Purpose Acquisition Company.

Think of it like this: A group of experienced investors and business people (we'll call them the "sponsors") have created this company with one main goal: to raise money from investors like you, and then use that money to buy another private company. They don't have a business of their own yet; they're essentially a blank check company looking for a good deal.

Their plan is to find a promising private company, likely in the biotechnology or healthcare space (given the "Helix" name, which often relates to DNA and life sciences), and merge with it. Once that merger happens, the private company becomes publicly traded through Helix Acquisition Corp. III.

2. How do they make money and are they growing?

Right now? They don't make money in the traditional sense because, as we just discussed, they don't actually do anything yet. They're not selling products or services.

Their "growth" isn't about increasing sales or profits today. Instead, their value and potential for growth come from their ability to:

• Successfully find a good, high-potential private company to merge with.
• Complete that merger at a fair price.
• Have that merged company perform well once it's public.

So, you're essentially investing in the potential of a future company that hasn't been identified yet, and in the ability of the Helix team to find a good one.

3. What will they do with the money from this IPO?

This is pretty straightforward for a SPAC. Almost all the money they raise from this IPO will be put into a special bank account called a trust account. This account is usually invested in very safe, low-risk government securities.

Here's what that money is for:

• Buying the Target Company: The main purpose is to use this money to fund the merger with the private company they eventually choose.
• Returning Money to Investors: If they can't find a suitable company to merge with within a certain timeframe (usually 18-24 months), they'll return the money in the trust account to the investors.
• Covering Costs: A small portion might be used for operating expenses, but the bulk is protected in the trust. The "sponsors" (the team behind Helix) also get a special share of the company for their efforts and risk, which is how they make their money if the deal goes through.

4. What are the main risks I should worry about?

Every investment has risks, and SPACs have a few unique ones:

• They Might Not Find a Good Company (or any company!): This is a big one. If Helix can't find a suitable private company to merge with within their set deadline, they'll have to give your money back. You'll get your initial investment back (plus a tiny bit of interest from the trust account), but you'll have lost the opportunity to invest that money elsewhere, and you won't have made any profit.
• They Might Find a Bad Company: Even if they find a company, there's no guarantee it will be a successful business once it's public. If the merged company underperforms, your investment could lose value.
• "Dilution" (Your Slice of the Pie Gets Smaller): When the merger happens, new shares are often issued to the owners of the private company and sometimes to other investors. This means your original shares represent a smaller percentage of the combined company, which can sometimes reduce the value of each share.
• SPACs Can Be Trendy: The popularity of SPACs can go up and down. If the overall market loses interest in SPACs, even a good one might see its share price drop.
• Warrants: When you buy a "unit" (more on that below), you often get a share of stock and a "warrant." Warrants give you the right to buy more shares later at a set price. While they can be a bonus, they also add complexity and can contribute to dilution if many are exercised.

5. How do they compare to competitors I might know?

This is a bit different because Helix Acquisition Corp. III doesn't have direct "competitors" in the way Apple competes with Samsung. They're not selling a product.

Instead, their "competition" is other SPACs out there that are also looking for promising private companies to merge with. There are many SPACs, and they're all trying to find the best deals.

What really sets them apart from other SPACs is the track record and expertise of the team behind Helix. You're essentially betting on their ability to identify and successfully merge with a great company. So, you'd compare them by looking at what their sponsors have done in the past.

6. Who's running the company?

This is super important for a SPAC! Since you're investing in their ability to find a good company, you want to know who's doing the searching.

The "company" is essentially run by its sponsors – the experienced individuals who set up Helix Acquisition Corp. III. Specifically, Helix Acquisition Corp. III is sponsored by Cormorant Asset Management, LP. They're based out of Boston, MA, and this is the team whose past successes (or failures!) in the biotech and healthcare investment world you'll want to research. Their experience and network are absolutely key to finding a valuable private company to merge with.

You'll want to look into their backgrounds:

• What kind of deals have they done before?
• Do they have experience in the biotech/healthcare sector? (Since that's their likely focus).
• Do they have a good reputation for picking winners?

Their experience and network are key to finding a valuable private company.

7. Where will it trade and under what symbol?

Helix Acquisition Corp. III is expected to trade on a major stock exchange, likely the NASDAQ or NYSE.

You'll typically see it trade under a few different symbols:

• HLYX.U: This is for the "units" initially offered. A unit usually includes one share of common stock and a fraction of a warrant (a right to buy more stock later).
• HLYX: This will be the symbol for the common stock once the units separate (which usually happens about 52 days after the IPO).
• HLYX WS: This will be the symbol for the warrants once they separate.

So, if you buy in the IPO, you'll likely be buying HLYX.U.

8. How many shares and what price range?

For most SPAC IPOs, the initial offering price is pretty standard:

• Price Range: Typically, each "unit" (HLYX.U) will be offered at $10.00. This is the standard starting price for almost all SPACs.
• Number of Units: The company will announce how many units they plan to offer. For example, they might offer 20,000,000 units, meaning they aim to raise $200 million (20 million units x $10/unit).

Hopefully, this helps clear things up a bit! Investing in a SPAC can be exciting because of the potential for big gains if they find a great company, but it also comes with its own set of unique considerations. Always do your own research and consider if it fits your personal investment goals and risk tolerance. Good luck!