HCM IV Acquisition Corp. completes IPO, raises $287.5M, auditor flags going concern

HCM IV Acquisition Corp.

IPO of 28,750,000 units at $10/unit closed Feb 13, 2026, gross proceeds $287.5M.
Private placement of 4,666,667 warrants at $1.50 each to sponsor and Cantor Fitzgerald, gross $7M.
Total $287.5M from IPO and private placement deposited into trust account.
Balance sheet shows shareholders' deficit of $15.7M from accumulated deficit.
Auditor raises substantial doubt about company's ability to continue as going concern due to insufficient working capital.

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