10-K - Bluerock Acquisition Corp. Class A Ordinary Shares | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Bluerock Acquisition Corp., a blank check company formed in July 2025, reported net income of $90K for FY 2025 ended December 31, 2025, its inaugural period post-IPO. This reflects a loss from operations of -$149K due to general and administrative costs, offset by $239K in interest earned on cash and marketable securities held in the Trust Account. No operating revenues were generated, consistent with its pre-business combination status. Total assets stood at $173.6M, dominated by $172.7M in the Trust Account from the December 2025 IPO of 17,250,000 units generating $172.5M gross proceeds. Cash outside the Trust was $694K, with total current assets of $781K. Liabilities totaled $7.4M, including $7.3M deferred underwriting fee, resulting in shareholders' deficit of -$6.6M. Net cash used in operating activities was -$253K, offset by $173.4M from financing activities mainly IPO proceeds. The company has 24 months from IPO closing to complete a business combination, focusing on growth-oriented targets via Bluerock's network.

Key Takeaways

1Net income $90K from $239K Trust interest offsetting $149K G&A costs.

2Trust Account holds $172.7M from 17,250,000 unit IPO at $10.00.

3Total assets $173.6M; cash outside Trust $694K.

4Shareholders' deficit -$6.6M; liabilities $7.4M including $7.3M deferred fee.

5Net cash from financing $173.4M; operating cash used -$253K.

Key Financial Metrics

Net Income

$90K