0001213900-26-056665
SEC filingMixed quarter: net income positive from trust interest, but operating losses and cash burn reflect pre-revenue SPAC status.
For the three months ended March 31, 2026, we reported an operating loss of $165.5K, reflecting general and administrative expenses as we pursue a business combination. Net income of $973.2K was driven by interest income earned on the trust account, which offset the operating loss. As a SPAC with no current operations, our financial performance is tied to trust earnings and expense management.
We expect to continue incurring significant costs in pursuit of an acquisition. There is no assurance that our plans to complete a business combination will be successful. Key risks include the uncertainty of identifying and closing a target, potential need for additional financing if redemptions are high, and ongoing cash burn. The company has no debt, no off-balance-sheet arrangements, and a simple capital structure with Class A ordinary shares subject to possible redemption. Investors should monitor progress toward a business combination and any changes in trust account balances or working capital needs.