Fiscal period ending 2025-12-31 versus 2024-12-31
— view filing on EDGAR →
Trust account cash collapsed 93% to $641K as redemptions climbed to 12.6M shares ($135M), constituting a severe liquidity crisis that materially threatens the company's ability to consummate a business combination. The near-total depletion of available trust funds represents an existential solvency risk for the SPAC's core purpose.
2 company-specific
Company-specific changes
Revised
Trust account cash depleted from $9.1M to $641K; redemptions increased from $126M to $135M. Severe liquidity deterioration threatens ability to fund business combination.
The ability of our public shareholders to exercise redemption rights with respect to a large number of our shares may not allow us to complete the most desirable business combination or optimize our…
Revised
Trust account cash depleted from $9.1M to $641K—a 93% decline. Redemptions increased from 11.9M to 12.6M shares. Liquidity crisis materially worsened.
We may only be able to complete one business combination with the proceeds from our initial public offering and the sale of the private warrants, along with funding from third party sources (which…