0001104659-26-062520
SEC filingNet income of $1.9M was driven entirely by trust account interest, masking an operating loss of $354K as the SPAC continues to incur costs while seeking a business combination.
The company has no long-term debt, capital lease obligations, or long-term liabilities. Its liquidity depends on sponsor support and the trust account. Net cash used in operating activities was $80,000 for the quarter, reflecting general and administrative costs. The company expects to continue incurring significant costs in pursuit of its acquisition plans.
Management has identified substantial doubt about the company's ability to continue as a going concern, as it has no operating revenues and must complete a business combination within a limited timeframe. The company cannot ensure that its plans to consummate an initial business combination will be successful.
The company has no operating revenues and all activities relate to formation and the search for a business combination. The trust account remains the primary source of potential future funding for a transaction.