Melar Acquisition Corp. I Warrant

Melar Acquisition Corp. I Warrant (MACI) reported net income of $5.5 million for fiscal year 2025, driven primarily by $7.0 million in dividends and interest earned on marketable securities and cash held in its Trust Account. This significant other income offset an operating loss of $1.5 million, which resulted from general and administrative costs of $1.5 million. The company's total assets stood at $175.3 million, with $171.4 million held in the Trust Account. However, the company reported a shareholders' deficit of $7.0 million. Cash flow from operations was negative $774 thousand, while financing activities provided $3.2 million in cash, primarily from the sale of units and private placement warrants. The company ended the period with $32 thousand in cash.

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