ITHAX Acquisition Corp III (ITHAW) Warrant
Each ITHAW warrant gives the holder the right to buy 1 share of ITHAX Acquisition Corp III at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.07, below the strike, so the warrant is out of the money. ITHAX Acquisition Corp III has a market value of about $308.81M. ITHAX Acquisition Corp III is a SPAC (no deal announced yet). It must complete a deal by December 15, 2027 or the warrants expire worthless. There are 4.71M listed warrants; exercising all of them would add 15.4% to the 30.67M shares outstanding.
ITHA vs strike, last 12 months
No share-price history for ITHA yet.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $11.68
From the issuer's 424B4 (2025-12-15).
Company and stock
- Company
- ITHAX Acquisition Corp III
- Underlying stock
- ITHA
- Share price
- $10.07
- Market cap
- $308.81M
- Shares outstanding
- 30.67M
- Value of all listed warrants
- $848.70K (0.3% of market cap)
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.1800
- Price / model
Get Pro to see whether ITHAW is cheap or rich against our model.
Dilution
- Shares outstanding
- 30.67M
- Listed warrants
- 4.71M
- Dilution if all exercised
- 15.4%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2027-12-15
- Latest possible deadline
- —
- Trust per share
- $10.19
- Sponsor
- ITHAX Acquisition Sponsor III LLC
- Sponsor's earlier SPACs
- 1 (1 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about ITHAW
When does the ITHAW warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of ITHAW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many ITHAW warrants are outstanding?
4.71M listed warrants, equal to 15.4% dilution if all are exercised.