1Reported net income of $1.4 million was driven by interest earned on funds held in trust, offset by operational costs, highlighting the financial profile of a SPAC in its search phase.
2Operating activities used $473,126 in cash, reflecting the costs incurred while evaluating potential acquisition targets, with a portion attributable to changes in operating assets and liabilities.
3The company completed its Initial Public Offering in the prior quarter, generating substantial capital that is held in trust to fund a future Business Combination.
4Management has stated it does not believe additional fundraising is needed to meet near-term operational expenditures, indicating confidence in existing liquidity.
5The company expects to continue incurring significant costs related to its acquisition plans, with the primary business risk being the successful execution of a Business Combination.
6Working Capital Loans may be converted into equity of the post-combination entity, and repayment is contingent upon the successful closing of a Business Combination.