Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Shareholders’ equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Market
Information
Our
Units, Class A ordinary shares and Warrants are traded on Nasdaq under the symbols “HVMCU,” “HVMC” and “HVMCW,”
respectively.
Holders
As of March 27, 2026, there were three holders
of record of our Units, one holder of record of our Class A ordinary shares, one holder of record of our Warrants and 1 holder of record
for our Class B ordinary shares. The number of holders of record does not include a substantially greater number of “street name”
holders or beneficial holders whose Units, Class A ordinary shares and Warrants are held of record by banks, brokers and other financial
institutions.
Dividends
We
have not paid any cash dividends on our Ordinary Shares to date and do not intend to pay cash dividends prior to the completion of our
initial business combination even if we have substantial assets outside the Trust Account. Our amended and restated memorandum and articles
of association provides that, prior to the completion of our initial business combination, no dividends or other distributions will be
payable on our Class A ordinary shares from assets held outside the Trust Account, and no additional sums will be deposited into the
Trust Account following the completion of the Initial Public Offering, unless approved by the written consent of the holders of not less
than two-thirds of our Class B ordinary shares. The payment of cash dividends following the completion of our initial business combination
will be within the discretion of our board of directors at such time and will be dependent upon our revenues and earnings, if any, capital
requirements and general financial condition at such time. There is no certainty we will be in a position to, or decide to, pay cash
dividends after completing any business combination. Further, if we incur any indebtedness in connection with our initial business combination,
our ability to declare dividends following completion of our initial business combination may be limited by restrictive covenants we
may agree to in connection therewith.
Securities
Authorized for Issuance Under Equity Compensation Plans
None.
Recent
Sales of Unregistered Securities; Use of Proceeds from Registered Offerings
On
April 16, 2025, our Sponsor purchased an aggregate of 5,750,000 Founder Shares in exchange for a capital contribution of $25,000, or
approximately $0.004 per share.
On
August 13, 2025, we consummated our Initial Public Offering of 23,000,000 Units, including the issuance of 3,000,000 Over-Allotment Option
Units as a result of the underwriters’ exercise of Over-Allotment Option in full. The Units and Over-Allotment Option Units were
sold at an offering price of $10.00 per Unit, generating total gross proceeds of $230,000,000. Jeffries LLC acted as the sole book-running
manager. The securities sold in the Initial Public Offering were registered under the Securities Act on a registration statement on Form
S-1 (No. 333- 288914). The SEC declared the registration statement effective on August 11, 2025.
Simultaneously
with the consummation of the Initial Public Offering, we consummated the private placement of 660,000 Private Placement Units to the
Sponsor and Jefferies at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds of $6,600,000. Of those 660,000
Private Placement Units, the Sponsor purchased 372,500 Private Placement Units and Jefferies LLC purchased 287,500 Private Placement
Units. Each Private Placement Unit consists of one Class A ordinary share and one-half of one warrant. Such securities were issued pursuant
to the exemption from registration contained in Section 4(a)(2) of the Securities Act.
Of
the gross proceeds received from the Initial Public Offering, including the Over-Allotment Option Units and the private placement of
Private Placement Units, $230,000,000 was placed in the Trust Account.
Transaction
costs of the Initial Public Offering amounted to $14,440,234, consisting of $4,600,000 of cash underwriting fee, $9,200,000 of
deferred underwriting fee, and $640,234 of other offering costs.
Item
6. [Reserved]
51
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