HCM IV Acquisition Corp. filed its Form 10-Q with the SEC on November 13, 2026, covering the quarterly period ended September 30, 2026, its first full operating quarter since completing its Initial Public Offering earlier in the year.

Key Highlights

  • Trust Account balance: Cash and marketable securities held in Trust Account totaled $293,585,500 as of September 30, 2026, compared to zero at December 31, 2025.
  • Net income, Q3 2026: The company reported net income of $2,173,837 for the three months ended September 30, 2026, driven primarily by $2,424,121 in interest earned on trust assets.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $1,495,448, after recording a $3,062,500 advisory fee expense related to a related party.
  • Class A shares subject to redemption: 28,750,000 Class A ordinary shares were outstanding at a redemption value of $10.21 per share as of September 30, 2026.
  • Shareholders' deficit: Total shareholders' deficit stood at $(17,216,151) as of September 30, 2026, reflecting accumulated deficit of $(17,217,013).
  • IPO completion: On February 13, 2026, the company consummated its Initial Public Offering, selling 28,750,000 Units, including 3,750,000 Units sold pursuant to the full exercise of the underwriters' over-allotment option.
  • Exchange listings: Class A ordinary shares trade on NASDAQ:HACQ; units trade under HACQU and redeemable warrants under HACQW, all on the Nasdaq Stock Market LLC.

HCM IV Acquisition Corp. Financial Position After February 2026 IPO

HCM IV Acquisition Corp. is a blank check company incorporated in the Cayman Islands and organized for the purpose of completing a business combination. According to the filing, the company consummated its Initial Public Offering on February 13, 2026, raising proceeds that are now held in a trust account. The trust held $293,585,500 in cash and marketable securities as of September 30, 2026, generating $6,085,500 in interest income over the nine months ended September 30, 2026. As of November 13, 2026, the company reported 28,750,000 Class A ordinary shares and 8,625,000 Class B ordinary shares issued and outstanding, each with a par value of $0.0001 per share.

The filing also disclosed several significant liabilities. A deferred underwriting fee payable of $13,687,500 is recorded on the balance sheet, alongside an advisory fee payable to a related party of $3,062,500 classified as non-current, and deferred legal fees of $233,551. General and administrative costs for the nine months ended September 30, 2026 totaled $1,544,716. The company's total assets were $294,329,344 at the end of the quarter, up from $160,959 at December 31, 2025, reflecting the proceeds raised through the IPO and their placement in trust. The company identifies itself as a smaller reporting company and an emerging growth company, and confirmed it is classified as a shell company under Rule 12b-2 of the Exchange Act.

Private Placement Warrants were also a component of the capital structure, with the filing noting the sale of 4,666,666 Private Placement Warrants for proceeds of $7,000,000. The fair value of Public Warrants at issuance was recorded at $3,076,250. The company was incorporated on September 5, 2025, and the nine-month income statement reflects this as the inception date, with operating activity confined primarily to the period following the February 2026 IPO.

What Was Disclosed

HCM IV Acquisition Corp. disclosed its unaudited financial statements for the quarter and nine months ended September 30, 2026, reporting trust account assets of $293,585,500, net income of $2,173,837 for Q3, a total shareholders' deficit of $(17,216,151), and details of its February 2026 IPO structure and related liabilities.