SHOTU
SHOTUCIK 0002104879
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SHOTU prices $200M SPAC IPO at $10/unit, targeting sports sector
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SHOTU SPAC cuts IPO to 20M units, shortens deal deadline to 21 months
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Latest financial statements
From 10-Q filed Aug 12, 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 | 6,598,933 | 6,669,234 |
| Loss from operations | (6,598,933) | (6,669,234) |
| Other income: | ||
| Change on over-allotment liability | 70,700 | 70,700 |
| Interest earned on marketable securities held in Trust Account | 392,131 | 392,131 |
| Total other income | 462,831 | 462,831 |
| Net loss | (6,136,102) | (6,206,403) |
| Basic and diluted weighted average shares outstanding of Class A ordinary shares | 4,731,868 | 2,379,006 |
| Basic and diluted net loss per ordinary share, Class A ordinary shares | (0.53) | (0.68) |
| Basic and diluted weighted average shares outstanding of Class B ordinary shares | 6,763,370 | 6,715,286 |
| Basic and diluted net loss per ordinary share, Class B ordinary shares | (0.53) | (0.68) |
Condensed Balance Sheets
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash | 1,140,947 | — |
| Due from Sponsor | 6,500 | — |
| Prepaid expenses | 91,438 | 30,000 |
| Total current assets | 1,238,885 | 30,000 |
| Long-term prepaid expense | 59,028 | — |
| Deferred offering costs | — | 110,008 |
| Cash and marketable securities held in Trust Account | 216,892,131 | — |
| Total Assets | 218,190,044 | 140,008 |
| Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ (Deficit) Equity | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 43,037 | 5,212 |
| Accrued offering costs | 76,570 | 85,008 |
| Promissory note related party | — | 40,420 |
| Total Current Liabilities | 119,607 | 130,640 |
| Advisory fee payable | 6,495,000 | — |
| Deferred underwriting fee payable | 6,495,000 | — |
| Total Liabilities | 13,109,607 | 130,640 |
| Commitments and Contingencies (Note 6) | ||
| Class A Ordinary Shares subject to Possible Redemption | ||
| Class A ordinary shares subject to possible redemption, $0.0001 par value; 21,650,000 and no shares at redemption value of $10.02 and $0.00 per share as of June 30, 2026 and December 31, 2025, respectively | 216,892,131 | — |
| Shareholders’ (Deficit) Equity | ||
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 210,000 shares and 0 issued and outstanding (excluding 21,650,000 and no shares subject to possible redemption) as of June 30, 2026 and December 31, 2025, respectively | 21 | — |
| Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 7,216,667 and 7,666,667 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively (1)(2) | 722 | 767 |
| Additional paid-in capital | — | 24,233 |
| Accumulated deficit | (11,812,437) | (15,632) |
| Total Shareholders’ (Deficit) Equity | (11,811,694) | 9,368 |
| Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ (Deficit) Equity | 218,190,044 | 140,008 |
Condensed Statement of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 |
|---|---|
| Net loss | (6,206,403) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |
| Interest earned on cash and marketable securities held in Trust Account | (392,131) |
| Payment of general and administrative expenses through promissory note | 87,976 |
| Change on over-allotment liability | (70,700) |
| Changes in operating assets and liabilities: | |
| Prepaid expenses | (45,728) |
| Long-term prepaid expense | (59,028) |
| Accounts payable and accrued expenses | 43,037 |
| Advisory fee payable | 6,495,000 |
| Net cash used in operating activities | (147,977) |
| Cash Flows from Investing Activities: | |
| Investment of cash in Trust Account | (216,500,000) |
| Net cash used in investing activities | (216,500,000) |
| Cash Flows from Financing Activities: | |
| Proceeds from sale of Units, net of underwriting discounts paid | 216,250,000 |
| Proceeds from sale of Private Units | 2,100,000 |
| Due from Sponsor | (6,500) |
| Repayment of promissory note related party | (316,379) |
| Payment of offering costs | (238,197) |
| Net cash provided by financing activities | 217,788,924 |
| Net Change in Cash | 1,140,947 |
| Cash Beginning of period | — |
| Cash End of period | 1,140,947 |
| Noncash investing and financing activities: | |
| Offered costs included in accrued offering costs | 76,570 |
| Deferred offering costs paid through promissory note related party | 147,983 |
| Prepaid expenses applied as a payment to offering costs | 19,078 |
| Prepaid expenses applied as a payment to accrued expense | 5,212 |
| Prepaid services contributed by Sponsor through promissory note | 40,000 |
| Deferred underwriting fee payable | 6,495,000 |
| Forfeiture of Founder Shares | 45 |
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 ↗