NEW YORK, Dec. 15, 2025 (GLOBE NEWSWIRE) -- ITHAX Acquisition Corp III (the "Company"), a newly incorporated blank check company, today announced the closing of its initial public offering of 23,000,000 units at a price of $10.00 per unit, including 3,000,000 units issued pursuant to the full exercise by the underwriter of its over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000.

The Company's units commenced trading on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "ITHAU" on December 12, 2025.

The Company is sponsored by Orestes Fintiklis, founder of Ithaca Capital Partners, who is also acting as Chief Executive Officer, Chief Financial Officer and Chairman of the Company.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry, it currently intends to concentrate its search for a target business operating in the asset management, leisure, hospitality, catering, travel, entertainment, gaming, lifestyle and related services sectors, driven by ...