XFLH completes $100M SPAC IPO with 15-month business combination deadline (May 2027)

Filed July 13, 2026 · Period ending May 31, 2026 · ~2 min read

Key Changes

• high

  Company raised $100M in February 2026 IPO at $10.00/unit (10M units), placing full proceeds in trust account now holding $101M including interest. Has until May 2027 to complete business combination or liquidate and return funds to public shareholders.

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

  Trust account earned $966K interest income through May 31, 2026, driving net income of $763K for the nine-month period. Company holds $247K operating cash and $416K working capital outside trust to fund target search and compliance costs.

  MD&A: Financial Results & Liquidity verify on EDGAR →
• medium

  Sponsor purchased 154,970 private placement units at $10.00/unit ($1.55M) concurrent with IPO and holds 3.33M founder shares after forfeiture when underwriter over-allotment option expired unexercised. Pays company $10K/month for administrative services.

  Notes: Private Placement verify on EDGAR →