TBCV
TBCVCIK 0002140030
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TBCV prices $261M SPAC IPO at $10 per unit, with $262.5M net proceeds to fund a future acquisition
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SPAC ups warrant dilution to one-third per unit, adds non-managing sponsor investors
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Latest financial statements
From 10-Q filed Sep 18, 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 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Formation, general and administrative costs | 74,576 | — | 78,276 | 3,850 |
| Loss from operations | (74,576) | — | (78,276) | (3,850) |
| Net loss | (74,576) | — | (78,276) | (3,850) |
| Weighted average Class B ordinary shares outstanding, basic and diluted | 2,972,501 | 1 | 1,486,251 | 1 |
| Basic and diluted net loss per Class B ordinary share | (0.03) | — | (0.05) | (3,850) |
Condensed Balance Sheets (Unaudited)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Assets: | ||
| Current Assets | ||
| Cash | 226 | — |
| Prepaid expenses | 20,000 | 7,557 |
| Total Current Assets | 20,226 | 7,557 |
| Deferred offering costs | 152,216 | — |
| Total Assets | 172,442 | 7,557 |
| Liabilities and Shareholder’s Deficit: | ||
| Current Liabilities | ||
| Accrued expenses | 61,175 | 1,075 |
| Accrued offering costs | 28,175 | — |
| Advances from related party | — | 25,000 |
| Promissory note related party | 154,886 | — |
| Total Current Liabilities | 244,236 | 26,075 |
| Total Liabilities | 244,236 | 26,075 |
| Commitments and Contingencies (Note 6) | ||
| Shareholder’s 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; none issued or outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 7,503,750 shares and one share issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 750 | — |
| Additional paid-in capital | 24,250 | — |
| Accumulated deficit | (96,794) | (18,518) |
| Total Shareholder’s Deficit | (71,794) | (18,518) |
| Total Liabilities and Shareholder’s Deficit | 172,442 | 7,557 |
Condensed Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows from Operating Activities: | ||
| Net loss | (78,276) | (3,850) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Payment of formation, general and administrative costs through promissory note related party | 12,420 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | 982 | 3,800 |
| Accrued expenses | 60,100 | 50 |
| Net cash used in operating activities | (4,774) | — |
| Cash Flows from Financing Activities: | ||
| Proceeds from promissory note related party | 5,000 | — |
| Net cash provided by financing activities | 5,000 | — |
| Net Change in Cash | 226 | — |
| Cash Beginning of period | — | — |
| Cash End of period | 226 | — |
| Supplemental disclosure of non-cash activities: | ||
| Deferred offering costs included in accrued offering costs | 28,175 | — |
| Deferred offering costs paid through promissory note related party | 117,466 | — |
| Settlement of advances from related party in exchange for issuance of Class B ordinary shares | 25,000 | — |
| Prepaid expenses applied to deferred offering costs | 6,575 | — |
| Prepaid expenses paid by Sponsor through promissory note related party | 20,000 | — |
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 ↗