0001213900-26-025213
SEC filingStellar V Capital Corp. reported a net income of $5.3 million for fiscal year 2025, driven primarily by $5.7 million in interest earned on marketable securities held in its Trust Account. This positive result occurred despite an operating loss of $589K from general and administrative costs. The company's balance sheet is dominated by $156.7 million in marketable securities held in the Trust Account, representing the majority of its $157.2 million in total assets. Cash flow from financing activities was $152.0 million, primarily from the net proceeds of unit sales, while operating activities used $578K and investing activities used $151.1 million for Trust Account investments. The company ended the period with $354K in cash and total shareholders' deficit of $4.9 million. As a special purpose acquisition company, these results reflect its pre-business combination phase where investment income from the Trust Account is the primary financial activity.
Stellar V Capital Corp. reported fiscal year 2025 results showing a net income of $5.3 million, a significant positive outcome primarily attributable to $5.7 million in interest earned on marketable securities held in the Trust Account. This investment income offset an operating loss of $589K resulting from general and administrative costs. The company's basic and diluted earnings per share both amounted to $1.00, calculated on 20.3 million weighted average shares outstanding. As a special purpose acquisition company in its pre-business combination phase, these financial results reflect the company's current status where investment returns from the Trust Account constitute the primary source of income, while operating expenses relate to maintaining corporate operations and pursuing acquisition opportunities.
No revenue-generating business operations are disclosed in the filing, consistent with the company's status as a special purpose acquisition company that has not yet completed a business combination. The income statement shows no revenue line items, with the only income sources being interest earned on marketable securities held in the Trust Account ($5.7M) and other financial adjustments including changes in fair value of over-allotment option liability (-$221K) and share-based compensation expense ($82K). The document contains no segment breakdown, geographic mix, or traditional revenue growth drivers, as the company's current activities are limited to identifying and completing an initial business combination.
The company reported an operating loss of $589K, resulting entirely from general and administrative costs with no offsetting operating revenue. No gross margin is calculable or disclosed as the company has no cost of goods sold or traditional operating revenue. The positive net income of $5.3M represents a 900% return relative to the operating loss, entirely attributable to non-operating investment income from the Trust Account. The cost structure consists primarily of general and administrative expenses, with additional non-cash expenses including share-based compensation of $82K and changes in fair value of over-allotment option liability of -$221K.
Operating activities used $578K in cash, primarily from the net income adjusted for non-cash items and changes in working capital. Investing activities used $151.1 million for investment of cash into the Trust Account. Financing activities provided $152.0 million, mainly from $147.0M in proceeds from sale of units (net of underwriting discounts) and $5.5M from private placement units. The balance sheet shows total assets of $157.2M, dominated by $156.7M in marketable securities held in the Trust Account. Current assets total $445K including $354K in cash. Total liabilities are $5.4M, including a $5.2M deferred underwriting fee. Shareholders' deficit stands at -$4.9M, with accumulated deficit of -$4.9M offset by $662 in ordinary shares value and $106K in additional paid-in capital.
The filing contains no specific management guidance, forward-looking statements about future performance, or disclosed strategic priorities beyond the company's stated purpose as a special purpose acquisition company. No quantitative or qualitative outlook information is provided regarding potential business combinations, future revenue projections, or earnings guidance. The document does not contain risk factor disclosures in the provided content, though as a SPAC, the company faces inherent risks related to completing a business combination within the required timeframe and identifying suitable acquisition targets that will create shareholder value post-combination.