BID
BIDCIK 0002094919
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SPAC BID's working capital deficit widens 47% to $695,514; sponsor loan cap raised to $500,000
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Six months ended June 30, 2026 |
|---|---|---|
| General and administrative expenses | 228,865 | 292,475 |
| Loss from operations | (228,865) | (292,475) |
| Other income: | ||
| Change in fair value of over-allotment liability | 53,700 | 53,700 |
| Interest earned on investments held in Trust Account | 408,257 | 408,257 |
| Referral fee income | 10,383 | 10,383 |
| Net income | 243,475 | 179,865 |
| Weighted average shares outstanding, Class A redeemable ordinary shares | 4,816,484 | 2,421,547 |
| Basic and diluted net income per share, Class A redeemable ordinary shares | 0.03 | 0.03 |
| Weighted average shares outstanding, Class B non-redeemable ordinary shares (1) | 4,666,667 | 4,666,667 |
| Basic and diluted net income per share, Class B non-redeemable ordinary shares | 0.03 | 0.03 |
Condensed Balance Sheets
| Description | June 30, 2026 (unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash | 714,247 | — |
| Other receivable | 10,383 | — |
| Due from Sponsor | 12,500 | — |
| Prepaid expenses | 73,345 | — |
| Prepaid insurance | 72,625 | — |
| Total current assets | 883,100 | — |
| Long term prepaid insurance | 65,987 | — |
| Investments held in Trust Account | 140,758,257 | — |
| Deferred offering costs | — | 400,891 |
| Total Assets | 141,707,344 | 400,891 |
| Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | ||
| Current liabilities | ||
| Accrued offering costs | 616,483 | 298,680 |
| Accounts payable and accrued expenses | 41,161 | 25,000 |
| Promissory note related party | — | 150,239 |
| Over-allotment option liability | 56,700 | — |
| Total Current Liabilities | 714,344 | 473,919 |
| Deferred legal fee | 83,565 | — |
| Deferred underwriting fee payable | 4,900,000 | — |
| Total Liabilities | 5,697,909 | 473,919 |
| Commitments and Contingencies (Note 6) | ||
| Class A ordinary shares subject to possible redemption, $0.0001 par value; 14,000,000 shares at redemption value of $10.05 per share | 140,758,257 | — |
| Shareholders’ Deficit | ||
| Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 610,000 and no shares issued or outstanding (excluding 14,000,000 shares subject to possible redemption) as of June 30, 2026 and December 31, 2025, respectively | 61 | — |
| Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 5,366,667 shares issued and outstanding as of June 30, 2026 and December 31, 2025(1) | 537 | 537 |
| Additional paid-in capital | — | 9,463 |
| Accumulated deficit | (4,749,420) | (83,028) |
| Total Shareholders’ Deficit | (4,748,822) | (73,028) |
| Total Liabilities and Shareholders’ Deficit | 141,707,344 | 400,891 |
Condensed Statement of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 |
|---|---|
| Net income | 179,865 |
| Adjustments to reconcile net income to net cash used in operating activities: | |
| Payment of operating expenses through promissory note related party | 147,259 |
| Interest earned on investments held in Trust Account | (408,257) |
| Change in fair value of over-allotment liability | (53,700) |
| Changes in operating assets and liabilities: | |
| Other receivable | (10,383) |
| Prepaid expenses | 26,655 |
| Prepaid insurance | (72,625) |
| Long term prepaid insurance | (65,987) |
| Accounts payable and accrued expenses | 41,161 |
| Deferred legal fee | 83,565 |
| Net cash used in operating activities | (132,447) |
| Cash Flows from Investing Activities: | |
| Investment of cash in Trust Account | (140,350,000) |
| Net cash used in investing activities | (140,350,000) |
| Cash Flows from Financing Activities: | |
| Proceeds from sale of units, net of underwriting discounts paid | 137,200,000 |
| Proceeds from sale of private placement units | 4,700,000 |
| Proceeds from sale of representative shares | 140 |
| Due from sponsor | (12,500) |
| Repayment of promissory note related party | (454,898) |
| Payment of offering costs | (236,048) |
| Net cash provided by financing activities | 141,196,694 |
| Net change in cash | 714,247 |
| Cash, beginning of the period | — |
| Cash, end of the period | 714,247 |
| Non-cash investing and financing activities: | |
| Deferred offering costs included in accrued offering costs | 479,365 |
| Deferred offering costs paid through promissory note related party | 32,400 |
| Prepaid expenses paid through promissory note | 100,000 |
| Over-allotment option liability | 110,400 |
| Deferred underwriting fee payable | 4,900,000 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗