ITHAX Acquisition Corp. III, a blank check SPAC incorporated in the Cayman Islands, filed its Form 10-Q for the quarter ended June 30, 2026 with the SEC on August 13, 2026.

Key Highlights

  • Trust Account: Cash and marketable securities held in trust totaled $234,340,929 as of June 30, 2026, up from $230,296,082 at December 31, 2025.
  • Net Income: The company reported net income of $3,746,831 for the six months ended June 30, 2026, driven by $4,044,847 in interest earned on trust assets.
  • Redemption Value: 23,000,000 Class A ordinary shares were subject to possible redemption at $10.19 per share as of June 30, 2026, compared to $10.01 per share at December 31, 2025.
  • Shareholders' Deficit: Total shareholders' deficit stood at $(9,118,288) as of June 30, 2026.
  • Operating Cash: Net cash used in operating activities for the six months ended June 30, 2026 was $(216,286), with cash on hand of $526,042 at period end.
  • Share Count: As of August 13, 2026, there were 23,000,000 Class A ordinary shares and 7,666,667 Class B ordinary shares issued and outstanding.

ITHAX Acquisition Corp. III Q2 2026 Financial Results and SPAC Status

According to the filing, ITHAX Acquisition Corp. III (NASDAQ:ITHA) is a blank check company incorporated as a Cayman Islands exempted company on July 3, 2025. The company is classified as a non-accelerated filer, smaller reporting company, and emerging growth company, and indicated that it is a shell company as defined under Rule 12b-2 of the Exchange Act. The company's securities trade on The Nasdaq Stock Market LLC under three symbols: units as ITHAU, Class A ordinary shares as ITHA, and warrants as ITHAW.

For the three months ended June 30, 2026, the company reported net income of $1,963,107, with general and administrative costs of $122,504 and interest earned on trust assets of $2,085,611, according to the filing. For the full six-month period, general and administrative costs totaled $298,016 against $4,044,847 of trust interest income, yielding net income of $3,746,831. Basic and diluted net income per share was $0.12 for both redeemable Class A and non-redeemable Class B ordinary shares for the six months ended June 30, 2026.

The balance sheet as of June 30, 2026 reflected total assets of $235,117,055, with the trust account representing the substantial majority. Total liabilities were $9,894,414, which included a deferred underwriting fee of $9,800,000. The accumulated deficit as of June 30, 2026 was $(9,119,055). The filing noted that accretion of redeemable Class A ordinary shares reduced the accumulated deficit by $1,959,236 in the first quarter and by $2,085,611 in the second quarter of 2026.

What Was Disclosed

The 10-Q covers ITHAX Acquisition Corp. III's financial position and operating results for the quarter and six months ended June 30, 2026, including trust account balances, share redemption values, net income, and cash flows, as reported under the company's SPAC structure.