Columbus Circle Capital Corp III is a freshly-IPO'd special purpose acquisition company that closed a $230.0 million initial public offering on July 10, 2026, with the units now separating into Class A ordinary shares trading under CCCT and warrants under CCCTW. The trust account is sitting at $230.0 million, the share count is 23,000,000 (including the full 3,000,000 over-allotment), and the trust is invested in U.S. Treasuries yielding interest at the risk-free rate. The stock at $9.85 sits roughly 1.5 percent below the $10.00 trust floor, the cleanest single read on the deal-or-liquidate clock that the SPAC is offering. The Columbus Circle franchise (CCCT is the third vehicle from the sponsor) has been an active deal-arb SPAC sponsor, and the question is whether the company can announce a de-SPAC within the 18-24 month combination window or return the trust at the deadline.