SPAC raises $105.5M in May IPO; 12-month merger clock ticking with going-concern warning

Filed June 18, 2026 · Period ending April 30, 2026 · ~1 min read

Key Changes

• high

  Company completed IPO on May 11, 2026, raising $105.5M (including partial over-allotment) now held in trust. Has until May 11, 2027 to complete initial business combination or must liquidate and return funds to shareholders.

  MD&A: IPO and Trust Account verify on EDGAR →
• high

  Management disclosed substantial doubt about ability to continue as going concern due to $381,727 working capital deficit and limited cash ($399,100) to sustain operations through the 12-month combination deadline.

  MD&A: Going Concern verify on EDGAR →
• medium

  Sponsor may provide working capital loans to fund deficiencies or transaction costs; up to $1M convertible to units at $10.00 per unit upon business combination. If merger fails, loans repaid from working capital only, not trust funds.

  MD&A: Sponsor Loans verify on EDGAR →