Helix Acquisition Corp. III (HLXC)

Helix Acquisition Corp. III is a special purpose acquisition company, or blank-check company, formed to raise capital through an initial public offering and then complete a business combination with an operating company. Its sponsor is affiliated with Cormorant Asset Management, a Boston-based investment firm specializing in life sciences.

The company focuses its search on businesses in the healthcare and life sciences sectors, particularly biotechnology. Earlier Helix vehicles from the same sponsor completed combinations with biotechnology companies developing new therapies.

As with other SPACs, the company has no operating business of its own. The money raised in its offering is held in a trust account until a deal is completed, and holders of its Class A ordinary shares generally have the right to redeem their shares in connection with a proposed transaction.