How will the exercise of the over‑allotment option affect the overall supply and liquidity of HVMC shares?

The under‑writers’ over‑allotment option added another 3 million Class A shares (and the associated 1.5 million half‑warrants) to the IPO. In other words, the total HV‑MC float is now roughly 26 million shares instead of the 23 million that would have existed without the option.

Supply impact – the extra 3 M shares represent a ~13 % increase in the post‑IPO share count, which dilutes the original offering and adds a modest “new‑issue” pressure on the price as the market digests the larger pool of tradable stock.

Liquidity impact – because the over‑allotment shares are placed in the hands of the under‑writers (who typically sell them into the market quickly), the daily trading volume and the depth of the order book are expected to rise. A bigger float usually narrows bid‑ask spreads, makes it easier for large‑block trades to be executed without moving the market, and reduces short‑term price volatility.

Trading implication – the immediate effect should be a modest, short‑run price concession as the new supply is absorbed, but the enhanced liquidity makes HVMC a more attractive short‑term play for both institutional and retail participants. Traders can look for a tightening of spreads and a bump in volume over the next 1‑2 weeks; a breakout to the upside will be more sustainable once the market has adjusted to the larger float, while any sharp downside may be limited by the improved depth. Keep an eye on the warrant‑exercise timeline (the half‑warrants will become whole warrants when the units split), as that could add another wave of supply later in the year.