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Live from SEC EDGAR — SPACs in the tracked universe only.
Our analyst’s reading, not the filer’s word. It fires often.
150 filings · form 10-Q · newest first
Two ingests. A poller reads SEC’s market-wide getcurrent feed every minute, which is how a SPAC we do not yet track can show up here at all; and a backfill walks the tracked universe in rotation, pulling each filer’s history from the submissions API. Every row links to the primary document on sec.gov. We name someone else’s filing; we never restate it.
Filings attributed to a SPAC we track, plus filers whose name has the shape of a blank-check company and that the admission job has not refused. A filer it has not reached yet stays in — undecided is not rejected — and a pre-IPO registrant is labelled rather than hidden, because “S-1 on file, pricing imminent” is the most interesting row on the page. All EDGAR traffic is the raw firehose and is mostly operating companies.
23,949 of 217,554 filings in this view carry a “what changed / why it matters” reading, and the split is by FORM rather than by filing: narrative paper — the 8-K, the 425, the proxies, the periodic reports — is read, while registration and insider-ownership paper is linked to its source and left alone. So a form filter that returns rows with no reading is telling you something true about our coverage, not hiding one.
The amber dot means an analyst model marked the filing material, and 14,356 of the 23,949 it has read carry one — it is a wide net, not a rare alarm, and it is our reading rather than the filer’s word. A row tagged needs review is one the model itself was not confident about. Both are pointers into the document; the document is the fact.
Because it would be a chart of our own ingest. Every row in this table was written in a single week, the eight-year history behind it is backfilled, the backfill has reached part of the universe and truncates each filer at its hundredth-newest filing, and the newest week draws on nearly three times as many filers as the week before it and four times the week before that — because that is when the poller started. A burst of filings is a real signal and it stays unbuilt until the coverage behind it is even.
Across 153 forms. The feed below prints the newest 150.
Tracked SPACs plus the filers awaiting admission.
8 of 153 forms — 66% of the record. The two biggest are event reports and insider statements, not deal paper.
145 smaller forms hold 74,295 more filings and are not drawn.
No filter chip reaches CORRESP, SC 13G, SC 13G/A yet.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
●What changed:Cactus Acquisition Corp. 1 Ltd filed a 10-Q for the quarter ended June 30, 2026, confirming its mandatory liquidation deadline is November 2, 2026, following the fourth extension approved on October 31, 2025. The filing reports $652,000 in the trust account, a net loss of $286,000 for the six-month period, and outstanding promissory notes totaling approximately $1,481,000 to third parties including TAG INTL ($300,000 principal) and ARWM Inc Pte. Ltd ($894,000 balance). Management targets confidential resubmission of an amended Form F-4 for its proposed business combination with Tembo e-LV B.V. during the second half of 2026. Why it matters: Investors must note the company has substantial doubt about its ability to continue as a going concern due to a working capital deficiency of $3,262,000 and reliance on third-party loans to fund operations until the November 2026 deadline. The redemption price per share has risen to $12.48, but only 52,239 public shares remain outstanding, significantly limiting liquidity and potential redemption volume.
●What changed:Market Technology Acquisition Corp filed a 10-Q for the period ended June 30, 2026, reporting that it consummated its Initial Public Offering on July 27, 2026, of 20,500,000 Public Units at $10.00 per unit generating $205,000,000 in gross proceeds, and simultaneously closed a Private Placement of 712,500 Private Units to Sponsor and BTIG for $7,125,000. The filing discloses that $206,025,000 was placed in the Trust Account ($10.05 per share), the Underwriters partially exercised their Over-Allotment Option for 500,000 units while forfeiting the remaining 2,500,000, resulting in the Sponsor holding 6,833,333 Founder Shares after 833,334 were forfeited, and the IPO Promissory Note balance of $215,099 was paid in full by July 30, 2026. Why it matters: This filing confirms the SPAC has raised capital and established its Trust Account value, but the partial exercise of the Over-Allotment Option reduces the total pool of redeemable shares and increases the relative ownership percentage of the Sponsor's Founder Shares compared to a full exercise scenario.
●What changed:B&R Technology Merger Corp. filed a 10-Q for the period ended June 30, 2026, reporting that it consummated its Initial Public Offering on July 22, 2026, of 32,500,000 Public Units at $10.00 per unit, and subsequently partially exercised its Over-Allotment Option on August 25, 2026, for an additional 3,500,000 Option Units, bringing total Trust Account proceeds to $360,000,000. Why it matters: Investors should note that the IPO and over-allotment occurred after the quarter-end reported in this filing; the document confirms the final capitalization, the $14,400,000 Deferred Fee payable to Citigroup Global Markets Inc., and the forfeiture of 458,333 Founder Shares due to the partial over-allotment exercise.
●What changed:Southern Cross Acquisition I Corp. filed a 10-Q for the period ended June 30, 2026, reporting that it consummated its Initial Public Offering on July 22, 2026, issuing 11,500,000 Units at $10.00 per Unit for $115,000,000 in gross proceeds and placing $115,000,000 into a Trust Account. The filing discloses a working capital deficit of $281,439 as of June 30, 2026, and notes that management has determined substantial doubt exists regarding the Company's ability to continue as a going concern due to the mandatory liquidation date being less than one year from the issuance date. Why it matters: Investors should note that while the IPO closed after the balance sheet date, the filing confirms the trust value is established at $10.00 per share and identifies the redemption deadline as July 22, 2027 (12 months post-IPO). The explicit 'going concern' warning highlights the binary risk: if no business combination is completed by the deadline, public shareholders face liquidation and potential loss of investment.
What changed:The filing reports that Cactus Acquisition Corp. 1 Ltd. extended its mandatory liquidation date to November 2, 2026 (the 'Fourth Extension') following a shareholder vote on October 31, 2025; 711,333 Class A ordinary shares were redeemed in connection with this extension, resulting in $8,676,000 distributed from the Trust Account on November 21, 2025. As of March 31, 2026, only 52,239 Class A ordinary shares remain subject to possible redemption, held in a Trust Account valued at $647,000. The company is advancing a business combination with Tembo e-LV B.V., having submitted a Form F-4 registration statement on December 29, 2025, and received an SEC comment letter in March 2026, with management targeting a confidential resubmission in the second half of 2026. Financially, the company reported a net loss of $168,000 for the quarter ended March 31, 2026, compared to $78,000 in the prior year period, driven by reduced interest income ($6,000 vs $95,000) due to lower trust account balances. The company disclosed substantial doubt about its ability to continue as a going concern due to insufficient funds outside the trust account ($15,000 cash as of March 31, 2026) and reliance on third-party promissory notes. Subsequent to the quarter end, on May 19, 2026, the company issued an unsecured promissory note to TAG INTL DMCC for $300,000, funded on May 26, 2026. Additionally, the CEO/CFO concluded that disclosure controls were not effective as of March 31, 2026, due to a material weakness involving an insufficient number of qualified finance and accounting personnel. Why it matters: Investors must note that the redemption deadline is now November 2, 2026, but the company has only 52,239 public shares remaining, meaning the trust account holds minimal capital relative to the original offering. The company faces a severe liquidity crisis, with only $15,000 in operating cash and a working capital deficiency of $3,139,000, forcing it to rely on high-interest debt (promissory notes bearing up to 12% interest or 9% fees) to fund operations and potential transaction costs. The admission of ineffective internal controls over financial reporting raises concerns about the accuracy of the financial statements. Furthermore, the company explicitly states there is 'substantial doubt' about its ability to survive past the liquidation date if the Tembo deal does not close, and the small number of remaining shareholders suggests significant dilution risk or total loss of value if the combination fails.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed:The filing reports that Alchemy Investments Acquisition Corp 1 (ALCY) has been delisted from Nasdaq and is now trading on the over-the-counter market. Specifically, on April 7, 2026, Nasdaq notified ALCY that it did not comply with IM-5101-2 because it failed to complete a business combination by May 4, 2026; consequently, ALCY’s securities were suspended from trading on Nasdaq on May 14, 2026, and began trading on the OTC market on that date. The filing also discloses that on July 10, 2026, the Company filed Form 25-NSE to formally remove its listing and registration. Regarding the proposed business combination with Cartiga, LLC, the filing confirms the agreement remains in place but notes that the Business Combination Agreement may be terminated if closing does not occur by September 9, 2026. Financially, the Trust Account balance increased to $9,103,236 as of June 30, 2026, from $8,813,038 at December 31, 2025, driven by investment gains and extension deposits. The Sponsor’s promissory note balance rose to $2,186,000 as of June 30, 2026, from $1,710,000 at year-end 2025. Why it matters: The delisting from Nasdaq removes the company from major exchange liquidity and visibility, potentially impacting investor access and warrant valuation. The move to OTC trading coincides with the expiration of the original 18-month combination period, placing all remaining value on the successful completion of the Cartiga merger or liquidation by the extended deadline of September 9, 2026. The increase in the Trust Account reflects ongoing extension payments ($132,756 deposited in H1 2026) and interest accruals, which directly determines the per-share redemption value for public shareholders if the deal fails. The rising related-party debt ($2,186,000) indicates continued sponsor funding to cover operational costs and extension fees, highlighting the company's reliance on sponsor capital to maintain going concern status while facing substantial doubt about its ability to continue operations without a completed business combination.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed:The filing reports that AMR Resources Acquisition Corp. consummated its Initial Public Offering on July 20, 2026, selling 26,000,000 Units at $10.00 per Unit for gross proceeds of $260,000,000, which includes a partial exercise of the underwriters' over-allotment option for 1,000,000 Units; simultaneously, the Company sold 707,500 Private Placement Units to the Sponsor and underwriters for gross proceeds of $7,075,000; upon closing, $260,000,000 was deposited into the Trust Account, transaction costs totaled $15,008,723 (comprising $5,200,000 in cash underwriting fees, $9,100,000 in deferred underwriting fees, and $708,723 in other offering costs), and the Sponsor's promissory note balance of $300,000 was fully repaid; additionally, the underwriters' remaining over-allotment option for 2,750,000 Units remains open, resulting in 916,667 founder shares remaining subject to forfeiture. Why it matters: This filing confirms the completion of the SPAC's capital raise, establishing the $260,000,000 trust value available for redemption or business combination and defining the specific financial obligations (deferred underwriting fees) and equity structures (forfeitable founder shares) that will govern the upcoming search period and potential deal execution.
What changed:The filing reports that BOA Acquisition Corp. II consummated its Initial Public Offering on August 5, 2026, selling 14,375,000 Units at $10.00 per Unit for gross proceeds of $143,750,000, including the full exercise of the underwriters' over-allotment option for 1,875,000 additional Units. Simultaneously, the Company completed a private placement of 221,500 Private Placement Units to the Sponsor and institutional investors for $2,215,000. Transaction costs totaled $2,534,100, consisting of $630,000 in cash underwriting fees and $1,904,100 in other offering costs, of which $265,709 was paid to The Avery Companies LLC, an affiliate of the CEO and CFO. The filing discloses that the Sponsor forfeited 1,505,953 Founder Shares on June 17, 2026, reducing the shares subject to forfeiture based on over-allotment exercise from 1,000,000 to 803,571; these remaining shares were no longer subject to forfeiture upon the IPO closing. The administrative service agreement fee was reduced from $20,000 to $13,333 per month, and the underwriting fee structure changed from $0.20 per unit to a flat $750,000. The Company also repaid the outstanding promissory note of $72,218 (with $531,273 previously outstanding) in full upon IPO closing. Management disclosed that disclosure controls and procedures were not effective due to inadequate segregation of duties and insufficient written policies. Why it matters: This filing confirms the successful completion of the SPAC's fundraising phase, establishing the Trust Account balance and providing the capital necessary to pursue a business combination within the 12-month deadline of August 5, 2027. The reduction in administrative fees and the change in underwriting compensation terms indicate cost-saving measures adopted prior to the IPO. The disclosure of ineffective internal controls raises potential compliance risks for the newly public entity. The repayment of related-party debt and the finalization of founder share forfeiture structures clarify the post-IPO capitalization and sponsor alignment, while the payment of significant fees to a CEO/CFO affiliate highlights related-party transactions that investors should monitor for conflicts of interest.
What changed:Mercator Acquisition Corp. consummated its Initial Public Offering on July 10, 2026, selling 17,250,000 Units at $10.00 per Unit for gross proceeds of $172,500,000, including the full exercise of the underwriters' over-allotment option. Simultaneously, the Company sold 4,500,000 Private Placement Warrants to the Sponsor and Clear Street LLC for $4,500,000. Consequently, $172,500,000 was deposited into a Trust Account. The filing discloses that transaction costs totaled $10,755,081, comprising $2,250,000 in cash underwriting fees, $7,350,000 in deferred underwriting fees, and $1,155,081 in other offering costs. Additionally, the Sponsor transferred 75,000 founder shares to directors and 200,000 founder shares to underwriters as compensation for services rendered. Why it matters: The completion of the IPO converts the SPAC from a pre-revenue shell company with no operations into a public entity holding $172,500,000 in trust assets available for a business combination. The substantial deferred underwriting fee ($7,350,000) and advisory fees ($2,587,500) represent significant future liabilities contingent on the closing of an initial Business Combination. The transfer of founder shares to underwriters and directors establishes new equity-based compensation arrangements that will impact post-combination ownership structures. The filing also confirms the expiration of the going concern doubt related to pre-IPO liquidity, though management still cites substantial doubt regarding the ability to complete a business combination within the designated Completion Window.
What changed:The filing reports that Samos Energy Acquisition Corp. consummated its Initial Public Offering on July 13, 2026, issuing 23,000,000 Units at $10.00 per Unit for gross proceeds of $230,000,000, and simultaneously sold 6,000,000 Private Placement Warrants to the Sponsor and Cantor Fitzgerald Co. for $6,000,000. Consequently, $230,000,000 was deposited into a Trust Account. The underwriters fully exercised their over-allotment option, releasing 750,000 Founder Shares from forfeiture. Total transaction costs were $18,075,702, including $4,000,000 in cash underwriting fees and $9,800,000 in deferred underwriting fees. The Company settled outstanding borrowings from the Sponsor, with the Sponsor remitting a net amount of $1,753,720 to the Company on July 17, 2026. An Administrative Support Agreement was entered into with the Sponsor for $10,000 per month starting July 10, 2026. Why it matters: This filing confirms the successful completion of the SPAC's IPO and the establishment of the Trust Account, which is critical for determining the redemption value ($10.00 per share) and the deadline for completing an Initial Business Combination (July 13, 2028). It details the capital structure post-IPO, including the significant deferred underwriting liability ($9,800,000) payable upon business combination completion, and clarifies the economic interests of the Sponsor and non-managing sponsor investors through the valuation of Founder Shares and Private Placement Warrants.
What changed:The filing reports that Samos Energy Acquisition Corp. consummated its Initial Public Offering on July 13, 2026, selling 23,000,000 Units at $10.00 per Unit for gross proceeds of $230,000,000, including the full exercise of the underwriters' over-allotment option. Simultaneously, the Company sold 6,000,000 Private Placement Warrants to the Sponsor and Cantor Fitzgerald Co. for $6,000,000. A total of $230,000,000 was deposited into a Trust Account with Continental Stock Transfer Trust Company. The filing discloses total transaction costs of $18,075,702, comprising $4,000,000 in cash underwriting fees, $9,800,000 in deferred underwriting fees, $1,283,702 in other offering costs, and a $2,992,000 fair value charge for 1,600,000 Founder Shares issued to non-managing sponsor investors. The Sponsor settled outstanding borrowings by offsetting amounts owed for Private Placement Warrants against promissory note balances, remitting a net amount of $1,753,720 to the Company on July 17, 2026. Additionally, the Company entered into an Administrative Support Agreement with the Sponsor for $10,000 per month starting July 10, 2026. Why it matters:
What changed:The filing reports that ConnectM Technology Solutions, Inc. completed the divestiture of its India operations (Global Impx Inc.) to Blue Cloud Softech Solutions Limited on June 17, 2026, in exchange for 160,000,000 equity shares of Blue Cloud valued at $31,413,579, resulting in a gain on disposal of discontinued operations of $19,053,911 net of tax. The Company also acquired Harry Kahn Associates, Inc. (HKA) on April 3, 2026, for 12,500 shares and deferred consideration. Financial results show revenues of $17,439,822 for the six months ended June 30, 2026, with a net loss from continuing operations of $7,406,172. The Company states there is substantial doubt about its ability to continue as a going concern due to a working capital deficit of approximately $29,761,000 and cash of $2,393,541. Subsequent events include the issuance of multiple convertible promissory notes and short-term bridge loans totaling over $1 million after June 30, 2026, and a non-binding term sheet for senior secured notes. Why it matters: The divestiture of India operations removes a loss-generating segment but triggers significant tax liabilities ($4,900,000 reserve) and leaves the company reliant on the fair value of restricted Blue Cloud shares for liquidity. The acquisition of HKA expands the company into defense logistics but adds contingent litigation risks. The going concern qualification indicates severe liquidity constraints, necessitating the subsequent high-cost debt financings and private placements described in the filing to fund operations and repay existing obligations.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
●What changed:SunPower Inc. filed a 10-Q for the period ended June 28, 2026, reporting $127.7 million in revenue and $12.1 million in net income, driven by a $69.6 million gain on remeasurement of derivative liabilities. The filing discloses that SunPower received a Nasdaq delisting notice on July 21, 2026, for failing to maintain a $1.00 minimum bid price, with a compliance deadline of January 19, 2027. Additionally, Ambia Holdings, Inc. filed a lawsuit on July 24, 2026, alleging breach of contract regarding the failure to transfer Deferred Ambia Consideration Shares. Why it matters: The Nasdaq delisting notice threatens the liquidity and trading viability of SPWR common stock, while the Ambia litigation introduces potential cash outflows and operational friction related to recent acquisitions. The company's substantial doubt about its ability to continue as a going concern remains a critical risk factor for investors.
●What changed:Quarterly report on Form 10-Q for the quarter ended June 30, 2026, filed August 21, 2026, covering FDMM's pre-IPO formation period and the subsequent July 9, 2026 IPO and trust funding. This is FDMM's first quarterly report as a public shell. It states no Business Combination target has been selected and no substantive discussions with any target have occurred. The July 9, 2026 IPO sold 27,500,000 units at $10.00 per unit, generating gross proceeds of $275,000,000, and $275,000,000 ($10.00 per unit) was deposited in the trust account. The underwriters forfeited the over-allotment option, and 1,375,000 Class B founder shares were surrendered by the sponsor. Simultaneously, 825,000 private placement units were sold for $8,250,000. The report also details transaction costs of $27,539,727, post-IPO cash of $2,382,295, working capital of $2,018,561, and the 18-month Completion Window (24 months if a definitive agreement is signed within 18 months). Why it matters: For investors tracking redemption mechanics and deal progress, this filing confirms the trust is fully funded at $10.00 per public share, there is currently no target or substantive deal discussions, and there is no extension mechanism beyond 18 months absent a definitive agreement signed within that window. It also establishes sponsor compensation, service-fee, waiver, and voting commitments that bear on sponsor conduct and future redemption economics.
●What changed:FG Merger II Corp. (FGMC) consummated its business combination with BOXABL Inc. on July 17, 2026, renaming the entity to BOXABL Inc. and listing Class A Common Stock under ticker 'BXBL' on Nasdaq on July 20, 2026. The transaction involved the redemption of 3,466,086 FGMC shares for $36,048,176 and the issuance of 246,524,760 common shares and 103,475,240 preferred shares to BOXABL stockholders as merger consideration valued at $3,500,000,000. Additionally, the filing details a Forward Purchase Agreement where $31,078,060 was funded from the Trust Account to Camac Fund, LP and FG Capital Partners, LLC, followed by early termination payments totaling $1,652,170. Why it matters: This filing confirms the successful completion of the SPAC merger, establishing the new public company's capital structure, ownership concentration (with Tiramani entities holding ~96% voting power), and post-cash liquidity derived from the trust account after redemptions and forward purchase settlements.
●What changed:10-Q quarterly report for the period ended June 30, 2026, filed by Jones Ventures INTL Acquisition1 Corp, a blank-check company still searching for a target. The 10-Q covers the pre-IPO period (ended June 30, 2026). The IPO was completed after quarter end on July 15, 2026, raising $200,000,000 from 20,000,000 units at $10.00 per unit, plus $3,955,000 from partial over-allotment exercise on July 31, 2026. The trust account now holds $203,955,000 ($10.00 per public share). The sponsor’s $300,000 promissory note and $70,657 in related-party advances were repaid after quarter end. Founder shares were transferred to independent directors at $0.003 per share, with $448,500 in share-based compensation to be recognized upon a business combination. The company has 21 months from the IPO closing (until April 14, 2028) to complete a business combination. No target has been identified or discussions initiated. Why it matters: For investors tracking redemption deadlines, trust value, extensions, deal progress, and sponsor conduct: (1) Trust value is $203,955,000, or $10.00 per public share, as of July 31, 2026. (2) The 21-month deadline from the July 15, 2026 IPO closing gives an initial deadline of April 14, 2028. (3) No deal progress – the company confirms it has not selected any target and has not initiated any discussions. (4) Sponsor conduct includes: the lead underwriter is an affiliate of the sponsor; the sponsor transferred 460,000 founder shares to independent directors; the sponsor is entitled to a $20,000/month administrative fee; working capital loans of up to $1.5 million may be converted into units at $10.00 per unit; and the company will pay the sponsor-affiliated underwriter a 4.0% fee on the IPO gross proceeds ($8,000,000) upon consummation of a business combination. (5) No extension mechanism is described beyond the standard 21-month period.
●What changed:Form 10-Q (Quarterly Report). This is Apogee Acquisition Corp's Q2 2026 Form 10-Q covering the period ended June 30, 2026. Why it matters: For redemption-calendar watchers, the $10.13 per-share trust floor confirms current investor equity cushion, while the explicit lack of an extension plan reinforces hard timeline pressure through mid-2027. The sponsor's substantial founder share surrender reduces future public shareholder dilution in any eventual deal and signals sponsor alignment, though it may also reflect post-IPO capital normalization. The material weakness disclosure requires heightened scrutiny of reported financials until remediation.
●What changed:Quarterly report (Form 10-Q) for a blank check company (SPAC) that has not yet completed a business combination. Trust account value increased to $211.5M (up from $207.8M at year-end 2025), driven by interest and dividend income. On May 31, 2026, the company signed a definitive business combination agreement with REEcycle Holdings, Inc., a rare earth elements recycler, expected to close in Q4 2026. The company disclosed substantial doubt about its ability to continue as a going concern if the deal fails or is not completed by the November 2027 deadline. Cash outside the trust remains very low ($36k). No insider trading arrangements were adopted or terminated during the period. Why it matters: Trust value per share ($10.22) exceeds the $10.00 redemption price, providing a small potential return for redeeming shareholders. The signed deal with REEcycle gives investors a specific target and timeline; execution risk remains high given the going concern warning and low working capital. The lack of any extension mechanism or additional sponsor support disclosed pressures the November 2027 deadline.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
●What changed:The registrant reports an accumulated deficit of approximately $239.8 million as of June 30, 2026 against approximately $216.9 million at December 31, 2025, substantially all attributable to its legacy phage therapy operations and pre-restructuring corporate expenses, and states it has not generated material revenue from operations. Net cash used in operating activities was $6,583 thousand for the six months. Management states current funds will fund operations only for the next several months and that these factors raise substantial doubt about the ability to continue as a going concern. Why it matters: Two constraints run alongside the cash burn. On March 25, 2026 NYSE Regulation notified the company it was not in compliance with Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide, citing a stockholders' deficit of $(1.3) million at December 31, 2025 and losses in its five most recent fiscal years. And on July 10, 2026 it cancelled 1,013,637 shares issued on a note conversion to stay within the Section 712 19.99% cap, reinstating $379 thousand of principal, with shareholder approval sought at an August 25, 2026 meeting.
●What changed:Quarterly Report on Form 10-Q for the period ended June 30, 2026, filed by Columbus Circle Capital Corp II, a blank-check company. This 10-Q reports the execution of a Business Combination Agreement on June 26, 2026, to acquire Elroy Air, Inc. for a base purchase price of $800 million in stock. A $100 million closing PIPE investment is also described, alongside pre-funded convertible notes with an aggregate face value of ~$78.4 million. The trust account held $233,097,832 as of June 30, 2026, with interest earned of $2,045,145 for Q2 2026 and $3,097,832 year-to-date. The company reports a working capital deficit ($343,967) and management discloses substantial doubt about going concern. Why it matters: This filing confirms a specific, high-value de-SPAC target (Elroy Air) with a structured earnout and significant PIPE. Redemption mechanics are not yet calculable (redemption price is formulaic: trust per-share at vote). Trust value is clearly stated. The disclosure of a going concern warning and the company's cash burn ($375,953 used in operations in H1 2026) are actionable for investors assessing the risk of a failed deal or liquidation. Sponsor conduct is addressed via support and lock-up agreements.
●What changed:Form 10-Q quarterly report for Inflection Point Acquisition Corp. VI for the period ended June 30, 2026. Initial Public Offering completed March 30, 2026, with gross proceeds of $253 million; trust account balance of $254,777,090 ($10.07 per share) as of June 30, 2026; business combination agreement with Quantum Space LLC signed June 8, 2026, valuing combined company at ~$1.2 billion enterprise value; $240 million Closing PIPE and $60 million Pre-Funded PIPE arranged; forward contract asset of $957,000 recognized; net loss of $506,244 for six months; working capital of $1,067,577; substantial doubt about going concern; extension deadline 2028-03-30; sponsor support agreement and lock-up provisions in place. Why it matters: Investors need to know trust value ($10.07/share slightly above IPO $10.00) and that the SPAC has a signed deal with Quantum Space, a space infrastructure company, expected to close Q4 2026. The trust is fully funded and no redemptions have occurred yet. However, management expresses substantial doubt about ability to continue as a going concern, indicating liquidity risk absent the business combination. The forward contract confirms PIPE commitment. The deadline for completion is March 30, 2028, so no immediate extension needed. This filing provides the first detailed financials post-IPO and the first look at deal terms.
●What changed:Profusa, Inc., the surviving company of NorthView Acquisition Corporation's July 11, 2025 business combination, reported a working capital deficit of approximately $27.3 million at June 30, 2026, a net loss of $12.2 million for the six months against $5.1 million a year earlier, and $5.2 million of cash used in operating activities. Total assets were $1,042 thousand and total stockholders' deficit $(27,127) thousand. It reversed all but approximately $44 thousand of the excise tax liability assumed in the business combination. Why it matters: The listing record in this filing is the risk. Nasdaq found the company non-compliant with the minimum bid price, market value of listed securities and market value of publicly held shares requirements, moved to delist in March 2026, and the Hearings Panel granted continued listing only on conditions: transfer to the Nasdaq Capital Market, shareholder approval of a reverse split by June 23, 2026, and compliance with bid price and stockholders' equity by July 20, 2026, later extended to July 31, 2026. Substantial doubt about going concern remains.
●What changed:SpringBig Holdings, Inc. reported an accumulated deficit of approximately $44.5 million at June 30, 2026, cash and equivalents of approximately $0.3 million and a working capital deficit of approximately $15.5 million, the latter including long-term debt reclassified to current after an April 21, 2026 Notice of Default, Reservation of Rights and Notice of Termination on its secured Notes. On July 13, 2026 the company transferred all of its equity interests in SpringBig, Inc. and substantially all collateral to a transferee in lieu of other secured creditor remedies. Why it matters: The company no longer owns the operating business. It was released from approximately $12.5 million of principal and accrued interest under the Notes and received approximately $172 thousand of cash at closing, so its principal assets are now that cash plus whatever was not transferred. Management states it is evaluating strategic alternatives and that if it cannot consummate one the company will likely liquidate and wind up its affairs. The shares are quoted on the OTCQB following the 2023 Nasdaq delisting.
●What changed:Firy Inc. (formerly Skillz Inc.) reported second-quarter revenue of $30,992 thousand against $25,214 thousand a year earlier, and six-month revenue of $60,097 thousand against $47,111 thousand. Net loss widened to $24,475 thousand for the quarter from $17,922 thousand, and was $35,420 thousand for the six months. Cash and cash equivalents were $164.0 million, total stockholders' equity fell to $84,468 thousand from $111,820 thousand at January 1, 2026, and the current portion of long-term debt stood at $128,646 thousand. Why it matters: Revenue is growing and the loss is growing faster. The balance sheet carries $128.6 million of debt in current liabilities — the 10.250% senior secured notes due 2026, originally $300.0 million issued in December 2021 — against $164.0 million of cash, which is the context for the $80.0 million partial redemption of those notes the company noticed on August 4, 2026. The filing also discloses that Tether terminated all of its agreements with the company effective September 1, 2025, which the company is contesting in the Delaware Court of Chancery.
●What changed:Quarterly report (Form 10-Q) for Research Alliance Corp IV for the period from inception to June 30, 2026, prior to its IPO closing on July 14, 2026. The SPAC completed its IPO and private placement after the quarter end, depositing $75,000,000 in the trust account at $10.00 per share. No business combination target has been identified; no substantive discussions have occurred. The company reported a net loss of $41,013 for the pre-IPO period. Why it matters: Confirms that the SPAC is in its early stage with no deal progress. Investors should note the 24-month deadline from July 14, 2026 (July 2028). Trust value is $10.00 per share. No changes to redemption terms or sponsor arrangements.
●What changed:Quarterly Report (Form 10-Q) for a blank check company that completed its IPO on July 10, 2026, covering the period through June 30, 2026 — a routine SEC compliance filing by a newly public SPAC. The SPAC completed its IPO on July 10, 2026, raising $230 million in trust ($10.00 per share), exited a pre-IPO working capital deficit, and fully repaid the $300,000 sponsor promissory note. Trust now holds $230 million. No target has been selected. The sponsor transferred 200,000 founder shares to independent directors (valued at $590,000) but no compensation expense recognized because the business combination is not yet probable. The company's focus areas for target search are disclosed: artificial intelligence and digital infrastructure, sports, media and entertainment, energy transition, mining industries, and cryptocurrency. Why it matters: Establishes the baseline for trust value ($10.00 per share) and the 24-month deadline (July 10, 2028). Highlights sponsor indemnification and liquidity risks. Discloses the early-stage share transfer to directors, which may be a governance consideration. The disclosed target sectors give investors a clear sense of the intended acquisition strategy.
●What changed:The 10-Q for the quarter ended June 30, 2026 filed under Commission file number 001-39341 is that of T3 Defense Inc. (Nasdaq: DFNS), with 1,663,806 shares of common stock outstanding at August 14, 2026 and warrants exercisable at $11,500.00 per share. Why it matters: The trust account on this balance sheet sits within a consolidated VIE rather than the reporting company, so the $175,889 thousand is not a redemption pool for T3's own 1,663,806 shares. The $11,500.00 warrant strike and the small share count are the arithmetic of a reverse split already reflected in these statements.
●What changed:The 10-Q for the quarter ended June 30, 2026 filed under Commission file number 001-40621 is that of Mobix Labs, Inc. (Nasdaq: MOBX), with 16,774,387 Class A and 200,491 Class B shares outstanding as of August 13, 2026. Why it matters: A conversion price that floats with the share price converts a falling stock into more shares, and the company names both that mechanism and the two Nasdaq thresholds in the same list — the dilution and the listing tests move together. The condensed financial statements are not in the portion of the document read here, so no balance-sheet or revenue figure is attributed.
●What changed:The 10-Q for the quarter ended June 30, 2026 filed under Commission file number 001-42646 is that of Infleqtion, Inc. (NYSE: INFQ), with 225,357,052 shares of common stock outstanding as of August 14, 2026 and warrants exercisable at $11.50. The filing states that the merger was consummated on February 13, 2026, pursuant to which Churchill Capital Corp X acquired ColdQuanta, Inc. (d/b/a Infleqtion) and redomesticated and renamed itself Infleqtion, Inc., a Delaware corporation. Why it matters: This is the successor's second quarterly report after the de-SPAC and it confirms the February 13, 2026 closing date and a 225 million share count against the SPAC's original public float. The company states material weaknesses in internal control exist and remain to be remediated. The condensed consolidated financial statements are not in the portion read here.
●What changed:SEC Form 10-Q Quarterly Report filed by Aeon Acquisition I Corp. for the fiscal quarter ended June 30, 2026. Management discloses completion of the Initial Public Offering on June 4, 2026, and full exercise of the underwriters’ over-allotment option on June 5, 2026, resulting in $144,122,790 deposited into the trust account ($10.03 per share). Management further reports that the Sponsor surrendered 6,160,714 founder shares on May 12, 2026, and settled a pre-IPO $15,000,000 arbitration dispute with Chardan Capital Markets through a binding agreement. Management also explicitly issues a going concern warning, stating the Company currently lacks resources to sustain operations without additional financing, while noting availability of up to $1,500,000 in available working capital loans from the Sponsor. Why it matters: By confirming full over-allotment, management establishes the maximum potential redemption pool (~$10.03/share), definitively setting the financial ceiling for investors ahead of the June 4, 2027 deadline. Management's resolution of the $15,000,000 contingency eliminates a severe pre-funding liability threat. The stated going concern qualification and sponsor share surrender accurately map the post-IPO dilution floor and liquidity dependency, directly informing investor strategy regarding trust preservation and required capital maintenance during the search window.
What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by ClearThink 1 Acquisition Corp., a blank-check company that completed its IPO in February 2026 and is still searching for a business combination target. No new deal announcement, no extension proposal, no material change in trust value per share. Sponsor advance repaid at IPO; all pre-IPO loans extinguished. The trust holds $126,658,210 as of June 30, 2026, representing $10.12 per public share (up from $10.00 at IPO due to interest income). The 21-month deadline to complete a business combination runs from the February 25, 2026 IPO closing, making the current deadline approximately November 24, 2027. The sponsor may seek a shareholder vote to extend, depositing $0.033 per share per month. Why it matters: This is a routine first-quarter filing post-IPO, confirming the SPAC is on the clock with no announced target. Trust value per share is $10.12, so there is no trust erosion. The sponsor's working capital loan facility of up to $1,500,000 is available but undrawn. The filing confirms sponsor conduct indemnification language and the combination period mechanics. The market implication is minimal: the SPAC is still in its early search phase, with no material change in redemption mechanics, trust value, or sponsor risk.
What changed:The document available for this Redwoods Acquisition Corp. 10-Q is not the quarterly report body but an S-K 1300 Technical Report Summary for the Skaergaard Project prepared for Greenland Mines Ltd., dated July 13, 2026 (SLR Project No. 501.066176.00001). The portion present is Section 9, data verification: drill hole database recompilation, holes missing downhole survey information, incomplete historical assay certificates from previous owners, OCR reconciliation of 1990 and 2004 assay certificates, and QP site visits in 2011 and 2020. Why it matters: No balance sheet, trust figure, deadline or SPAC disclosure appears in what is present, so nothing about the registrant's quarter can be stated from it. Routed to review so the quarterly report itself is read rather than this exhibit.
●What changed:10-Q (Quarterly Report) for Constellation Acquisition Corp I for the quarter ended June 30, 2026. Trust account decreased from $859,443 to $660,761 due to redemptions of 17,773 shares at $13.39 per share in January 2026 and monthly extension deposits. The company entered a definitive Business Combination Agreement with HiTech Minerals on April 9, 2026, with an equity value of $500 million. The sponsor note (2024 Note) was amended to increase total principal to $5,250,000. The company continues monthly extensions with $5,000 deposits; the next deadline is August 29, 2026 (or no later than January 29, 2027). Deutsche Bank waived its $6,510,000 deferred underwriting fee, reducing the liability to $4,340,000. Net loss for six months was $3,942,740, with a working capital deficit of $9,815,348, and management expressed substantial doubt about going concern. Why it matters: This is the first financial report after the HiTech deal announcement, showing trust value per share of $14.20, extension mechanics, and deal terms. The trust is small ($660,761) and public float is only 46,529 shares. The company faces a tight deadline and has significant operating losses and a working capital deficit, raising going concern risk. The deal is expected to close in second half of 2026 but is not guaranteed.
●What changed:Q2 2026 10-Q of DocGo Inc. (DCGO), the successor to Motion Acquisition Corp. Revenue was $73,424,719 for the three months ended June 30, 2026 versus $80,417,622 a year earlier, and $148,975,203 for the six months versus $176,450,677. Net loss was $17,992,298 for the quarter (prior year $13,289,893) and $34,692,135 for the six months. Cash and equivalents fell to $25,233,369 from $51,018,657 at December 31, 2025; total assets $186,816,249; accumulated deficit $214,385,203. 98,928,369 shares were outstanding as of August 14, 2026. Why it matters: The filer is the post-combination operating company, not a blank-check shell: there is no trust account, no redemption value and no deadline in this document. The quarter records lower revenue year over year on both a three- and six-month basis and a cash balance about half its year-end level.
What changed:Form 10-Q (Quarterly Report) for Twelve Seas Investment Co III, a Cayman Islands blank-check SPAC still in search phase, with a combination deadline of December 15, 2027. Trust account value increased from $172.8M to $175.8M; trust per-share value rose from $10.01 to $10.19; net income of $1.4M for Q2 2026; company still has no target selected and no substantive discussions; going concern uncertainty remains; no changes to redemption rights or deadline. Why it matters: Routine quarterly update confirming the SPAC remains in search phase with sufficient time (deadline Dec 2027) and a trust per-share value above $10.00, providing a safety cushion for eventual redemptions. No new deal or extension risk.
●What changed:Quarterly Report (Form 10-Q) for Copley Acquisition Corp for the period ended June 30, 2026. Entered into a definitive Business Combination Agreement with Ignite Proteomics, LLC on June 10, 2026, with a target closing by September 30, 2026. Trust value per Class A share increased from $10.32 at Dec 31, 2025 to $10.50 at Jun 30, 2026. Trust account balance grew to $181.1M from $177.97M due to interest income. Net income for Q2 2026 was $1.49M vs $0.91M in Q2 2025. Cash decreased to $3,099 from $67,568. Working capital deficit of $401,141 at June 30, 2026. Going concern doubt raised. Working capital loan outstanding $441,609. Why it matters: First filing after signing a definitive deal; trust value per share is a key input for shareholder redemption decisions; the going concern disclosure underscores the risk of liquidation if the business combination fails to close by the termination deadline; sponsors' working capital loans and the extension mechanics are detailed for the first time beyond IPO disclosures.
●What changed:Quarterly report (Form 10-Q) for Cal Redwood Acquisition Corp., a blank-check SPAC searching for a business combination. Trust account value increased to $239.8M ($10.43 per share) from $235.6M ($10.24 per share) at year-end 2025, driven by $4.1M of investment earnings in H1 2026. Cash on hand fell to $821k from $1.1M. Net income of $1.73M for Q2 2026 and $3.64M for H1 2026. General & administrative expenses rose to $383k (Q2) and $515k (H1). Going concern disclosure continues to note substantial doubt if no deal by May 27, 2027, but management states it does not expect to need additional funds for operations. Why it matters: The trust per-share value of $10.43 is above the IPO proceeds trust of $10.00, providing a modest cushion for redemptions. The SPAC has completed over 13 months of its 24-month search window (deadline May 27, 2027) with no announced target or definitive agreement. Cash burn from operations is visible: $201k used in H1. Sponsors have not drawn on working capital loans. No litigation, redemptions, or tender offers are reported.
●What changed:Q2 2026 10-Q filed under the CIK formerly used by Welsbach Technology Metals Acquisition Corp., now filed by Evolution Metals Technologies Corp. (Nasdaq: EMAT), a post-combination operating company in rare-earth and battery-materials recycling. The cover states 621,800,646 shares of common stock outstanding as of August 17, 2026 and a quarterly period ended June 30, 2026. Why it matters: The registrant is no longer a blank-check company and the report carries no trust or redemption terms. This summary covers the cover page and forward-looking section of the report; the balance sheet and statements of operations are not covered here.
●What changed:Quarterly Report on Form 10-Q filed with the SEC for the period ended March 31, 2026. The report discloses execution of a definitive Business Combination Agreement with UK consumer lender Blue Finance on April 8, 2026 (outside date November 4, 2026); pending shareholder and regulatory approvals. Trust account value per share was $12.72 at period end. In subsequent events, the extension to May 12, 2028 was approved on May 14, 2026, and a further redemption of 11,896 shares at ~$12.84 occurred, leaving 14,125 public shares and trust of ~$181,337 ($12.84 per share). The sponsor change to Samara Special Opportunities was completed in August 2025, and a working capital loan was provided. The former sponsor's liabilities were forgiven. The company identified a material weakness in internal controls over trust reconciliation and warrant accounting, and management has substantial doubt about going concern. Why it matters: This filing confirms the SPAC is in active pursuit of a de-SPAC transaction with a UK fintech target (Blue Finance). The trust is small (~$181k as of May 2026) but per-share value remains near $12.84. The sponsor has limited track record and the SPAC trades OTC. The deal carries risks: no committed PIPE, sensitivity to UK interest rates, and concentration of post-combination voting power. The material weakness and going concern opinion add execution risk for both the business combination and continued operations.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by Piermont Valley Acquisition Corp (CMCAF). The filing is the first quarterly report since the Company announced a definitive merger agreement on April 17, 2026 with Tigerless Health Inc. Key updates include: (1) the merger agreement terms, including a PIPE financing target of at least $5 million (no binding commitments yet), a termination date of September 30, 2026 (auto-extend to December 31, 2026 if S-4 not effective), and an earn-out of up to 10 million Pubco shares for Tigerless founder Zikang Wu; (2) the Fourth Extension approved on March 2, 2026, moving the business combination deadline from March 3, 2026 to March 3, 2027; (3) trust account balance of $2,478,814 as of June 30, 2026, held for 204,450 redeemable Class A shares; (4) working capital deficit of $352,705 and only $2,875 cash outside trust; (5) a going concern qualification; (6) a material weakness in internal controls over complex financial instruments that remains unremediated; (7) change in auditor from Marcum to Aloba in August 2025; (8) cancellation of 11.7 million Private Placement Warrants in July 2025; (9) sponsor working capital note outstanding of $276,521; (10) non-redemption agreements with third parties that will transfer 740,077 Founder Shares at closing; and (11) public warrant liability of $1,150,000 valued using a 40% probability of completing a business combination.
●What changed:Form 10-Q (unaudited quarterly report) for the period ended June 30, 2026, filed by CH4 Natural Solutions Corporation (MTNE), a blank-check company searching for an initial business combination. This is the first 10-Q filed after the Company's IPO (consummated May 4, 2026) and over-allotment exercise (May 8, 2026). The filing reports the completion of a $220 million IPO (22,000,000 units at $10.00), placing $220,000,000 (including $6,600,000 deferred underwriting fees) into the trust account. The trust held $221,233,834 at period end, reflecting $1,233,834 of interest income. The over-allotment option expired on June 15, 2026, with the underwriter forfeiting rights to the remaining 1,000,000 units, resulting in the sponsor forfeiting 333,333 Class B founder shares. The company reported a net loss of $5,894,317 for the six months, largely driven by $7,128,151 in general and administrative expenses. Management disclosed a going concern uncertainty, stating working capital is insufficient for at least one year from the filing date. Subsequent to quarter end, the company paid $300,000 to the CEO to satisfy a promissory note and made a $400,000 payment to a sponsor affiliate.
●What changed:10-Q (quarterly report for Lionheart Holdings for the period ended June 30, 2026). The SPAC held an extraordinary general meeting on June 18, 2026, at which shareholders (i) approved an extension of the combination deadline from June 20, 2026 to March 20, 2027; (ii) triggered the redemption of 4,503,836 Class A shares at ~$10.89 per share, reducing trust proceeds by ~$49.1 million and leaving ~$201.2 million in the trust; and (iii) the Sponsor converted 3,000,000 Class B shares into Class A shares, reducing Class B and increasing Class A non-redeemable shares. The Company also entered into Non-Redemption Agreements under which the Sponsor will transfer 3,175,814 Class A shares to investors contingent on deal closing, resulting in a $6.5 million non-cash expense and a corresponding capital contribution. On June 3, 2026, the Company announced it is focusing on a potential Business Combination with a target in Venezuela’s upstream oil and gas sector. Post-quarter-end, the Company issued and then amended two promissory notes (totaling $200,000) to related parties, correcting a scrivener’s error.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, the first quarterly report following the SPAC's initial public offering on June 1, 2026. The SPAC completed its IPO and private placement in June 2026, resulting in a trust account of $140.8 million ($10.05 per share). The company has not yet identified a target and reports a working capital deficit and going concern uncertainty. The over-allotment option expired unexercised, and 700,000 founder shares were forfeited. No material changes from prior period as this is the company's first periodic report. Why it matters: Investors should note the trust value of $10.05 per share, the 21-month deadline to complete a business combination (by March 1, 2028), and the limited cash outside trust ($714k). The going concern warning indicates the need for a transaction or additional financing. The forfeiture of founder shares reduces potential dilution. No deal progress is disclosed.
●What changed:Quarterly report on Form 10-Q for the quarterly period ended June 30, 2026 (first 10-Q since IPO effective Jan 28, 2026). Trust Account funded with $207.2 million ($10.15 per public share); interest earned $2.97 million in H1 2026; net income $1.66 million in Q2. No business combination target selected or substantive discussions begun. Material weakness in internal control over financial reporting disclosed (inadequate segregation of duties). Error correction in Q1 2026 EPS calculation (non-material restatement). Sponsor surrendered 860,205 founder shares upon over-allotment expiration. Warrants classified as equity. Promissory note repaid in full. Working capital loans zero. Why it matters: First operational report establishing baseline trust value ($10.15/share vs. $10.00 IPO price) and interest accumulation. Confirms SPAC is actively searching for a target but has not yet engaged in discussions. Material weakness raises governance risk but typical for early-stage SPAC. No redemptions yet. Trust per-share value slightly exceeds user's quoted $10.06 (likely prior estimate).
●What changed:Form 10-Q (Quarterly Report) for GP-Act III Acquisition Corp. for the quarter ended June 30, 2026. Trust Account decreased from $309M to $98M after $215M in redemptions from extension vote; extension approved to Nov 13, 2026; Class B shares converted to Class A; sponsor entered non-redemption agreements for 8.07M shares; working capital deficit increased; net income of $290k for the quarter. Why it matters: The filing shows the SPAC's cash position post-redemption, the successful extension, and the terms of non-redemption agreements that reduce dilution risk. Trust value per share is $10.95, above IPO price. The company has a deadline of Nov 13, 2026, and has engaged an advisor (ING) for a specific business combination, indicating progress. However, going concern uncertainty exists.
●What changed:Form 10-Q quarterly report (unaudited) for Inflection Point Acquisition Corp. V for the quarterly period ended June 30, 2026, filed August 14, 2026. Trust account securities value at June 30, 2026 is $90,922,578 ($10.54 per public share). Post-quarter-end, on August 12, 2026, shareholders approved an extension of the business combination deadline from August 14, 2026 to August 31, 2026, with board authority to extend up to four additional one-month increments to December 31, 2026. In connection with the extension, 7,475,610 public shares were redeemed for an aggregate of approximately $79.1 million ($10.59 per share), leaving approximately $12.2 million in trust. Class A ordinary shares outstanding after the redemption are 3,443,765. The Business Combination Agreement with GOWell was further amended on July 13, 2026 to modify earnout thresholds and increase the SPAC expense cap from $8 million to $9 million. Sponsor loan payable increased from $500,000 to $800,000 during the quarter via two working capital advances. Why it matters:
●What changed:Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Trust Account fell to $91.4M after $158.5M redemptions from extension vote; deadline extended to Sept 27, 2026 (possible to Dec 27, 2026); business combination agreement with BIG3 signed June 12; all 5.75M Class B shares converted to Class A; non-redemption agreements entered resulting in $697,987 expense; net income $1.59M vs $4.47M; working capital deficit $3.14M; subsequent $300k promissory note; symbols changed to TONT Why it matters: Confirms deal progress with BIG3, updated trust value and redemption impact, extension timeline, sponsor actions to limit redemptions, and going concern risk if deal fails
●What changed:Form 10-Q quarterly report for the period ended June 30, 2026. Subsequent events disclose that on July 29, 2026, shareholders approved the Business Combination with Exascale Labs Inc. and elected to redeem an aggregate of 26,865,211 Class A ordinary shares, representing 95.95% of the outstanding public shares. Why it matters: This massive redemption drains the trust account from $289,883,138 to approximately $12 million, which management states will still satisfy the minimum cash closing condition. The payout leaves roughly 1.135 million shares unredeemed, drastically altering the post-deal capital structure while confirming the transaction will proceed without supplemental financing ahead of the stated January 31, 2027 liquidation deadline.
●What changed:Quarterly report (Form 10-Q) for a blank-check company still searching for a business combination target. No deal announced. Trust value increased to $59,077,144 ($10.27 per public share, up from $10.10 at year-end). Cash burn accelerated: operating cash flow was negative $292,039 for six months vs. near-zero positive $39 a year earlier. Cash fell to $211,791 from $503,830. The sponsor transferred 100,000 founder shares to independent directors in February; one director (Richard Saldanha) resigned in May and his 25,000 unvested shares were returned to the sponsor. The auditor expressed substantial doubt about going concern because the mandatory liquidation date of April 1, 2027 is within one year of issuance and the sponsor is not obligated to fund any extension. No extension deposits have been made. Why it matters: The trust is growing (now $10.27/share) but the cash runway outside trust is thin — only $211,791 as of June 30 — and the burn rate has increased. With an April 2027 hard deadline and no announced target, the clock is ticking. The sponsor's obligation-free extension provision and the director resignation add governance risk. Any shareholder considering redemption needs to watch for an extension announcement or deal signing in the coming months. The disclosure explicitly warns that the financial statements do not include any going-concern adjustments.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026. The trust balance at June 30, 2026 was $414,071. The number of public shares subject to possible redemption was 36,771. On July 17, 2026, stockholders approved a further extension of the business combination deadline from July 18, 2026 to April 18, 2027, with no monthly deposits required, and 8,568 public shares were redeemed, leaving 28,203 public shares outstanding. There is an outstanding excise tax liability of $725,989, and the Company has received $344,506 of an $819,949 total overpayment of redemption proceeds due to a calculation error. The Company had a working capital deficit of $5,007,197. Why it matters: The extension to April 2027 provides additional runway, but the disappearing public float (only 28,203 shares after the latest redemption) and negative working capital underscore a severely challenged SPAC. The $1.5 million bridge loan from the target and $1.2 million in convertible notes are the primary financing for ongoing costs. The disclosure of a $819,949 redemption overpayment, with only $344,506 recovered, adds a further layer of uncertainty for public stockholders. The going concern disclosure remains, explicitly tied to the new April 2027 liquidation deadline.
●What changed:Quarterly report (Form 10-Q) for HCM III Acquisition Corp. for the quarter ended June 30, 2026, filed August 14, 2026. Trust account value increased from $257.3M to $261.8M, raising per-share redemption value from $10.17 to $10.35. Cash dropped from $1.02M to $0.67M, leading to a working capital deficit of $0.75M. Accrued expenses rose from $0.59M to $1.45M. The company still has no target; it explicitly states it has not engaged in substantive discussions with any business combination target. The company reiterated substantial doubt about its ability to continue as a going concern if it cannot complete a business combination by August 4, 2027. No working capital loans from sponsor were outstanding. Why it matters: Trust per share continues to accrete upward, providing a growing floor for redemptions. However, the cash burn and working capital deficit raise concerns about the company's ability to fund operations until the August 2027 deadline. The absence of any target discussions indicates no near-term deal is likely. The going concern qualification is a red flag for investors monitoring liquidation risk.
●What changed:Form 10-Q (Quarterly Report) for the fiscal quarter ended June 30, 2026. First quarterly report since IPO on March 30, 2026. Trust account holds $201.8 million ($10.09 per share including interest). Working capital surplus of $465,913. Company has not yet selected a target or engaged in substantive discussions. Going concern uncertainty disclosed. Underwriters forfeited over-allotment option, resulting in forfeiture of 750,000 founder shares. Why it matters: Establishes baseline post-IPO financial condition. Trust per-share value slightly above $10.00. No business combination progress. Deadline is September 30, 2027 (18 months from IPO).
●What changed:10-Q (Quarterly Report) filed by Starry Sea Acquisition Corp, a blank check company, for the quarter ended June 30, 2026, as required by the Securities Exchange Act of 1934. Trust account value increased to $59,335,397 from $58,363,263 due to interest income of $972,134 for the six months. The Company reported net income of $109,502 for Q2 2026 and $434,732 for the six months, driven by trust interest. Operating expenses rose to $378,133 in Q2 (versus $21,600 in Q2 2025). The LOI with Forever Young International Limited expired on January 12, 2026 without a definitive agreement; the Company stated it does not intend to proceed. The sponsor issued a new $500,000 promissory note (Promissory Note II), with $198,432 drawn as of June 30, 2026, to fund working capital. The Company had only $6,081 cash outside trust and a working capital deficit of $158,336. Management disclosed substantial doubt about the Company's ability to continue as a going concern if a business combination is not completed within the 15-month deadline from August 7, 2025 (i.e., by November 7, 2026).
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026. Trust account balance $2,952,818 ($14.81 per share, down from $14.47). Shares subject to redemption decreased to 205,950 from 220,036. Net loss narrowed to $275,598 from $1,000,101. Working capital deficit widened to $8,028,823, cash only $1,516. Extension notes balance $2,220,000. No new deal milestones; EFGH business combination still pending. Subsequent extension payments of $30,000 each in July and August 2026 to extend to September 17, 2026. Why it matters: Trust value per share remains above par, but deadline is September 17, 2026, with minimal cash and large working capital deficit. Sponsor continues funding extensions, but substantial doubt about going concern persists. Investors must monitor whether a deal closes or liquidation occurs.
●What changed:Q2 2026 10-Q of Volato Group, Inc. (NYSE American: SOAR), filed under PROOF Acquisition Corp I's CIK. Revenue was $965 thousand for the quarter versus $24,855 thousand a year earlier, and $1,967 thousand for the six months versus $50,338 thousand. Operating result swung to a loss of $2,520 thousand from income of $872 thousand; net loss was $2,051 thousand versus net income of $3,602 thousand. Cash rose to $8,440 thousand from $4,698 thousand at December 31, 2025 and total assets were $13,537 thousand. Why it matters: Revenue is about 4% of the prior-year quarter following the shift out of the prior aircraft-sales business, while the share count rose roughly five-fold over the half-year. Registered warrants carry a $287.50 exercise price and trade on OTC Markets rather than the exchange.
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026. Trust value increased to $58,438,195 (from $57,425,636 at Dec 31, 2025) and reclassified as current due to May 30, 2027 deadline. Filed Amendments 1–4 to the S-4 registration statement for the KIKA merger (latest Aug 12, 2026). Net income of $741,521 for H1 2026; working capital $940,707; cash $1,028,051. Due to related party rose to $132,000 (from $71,667). Going concern doubt reiterated. No extension of deadline or new working capital loans. Why it matters: Provides updated financials, trust value per share (~$10.44), and progress on KIKA merger with multiple S-4 amendments. Trust value exceeds $10.025 redemption price, supporting redeeming shareholders. Deadline is May 30, 2027; going concern risk if deal fails.
●What changed:Quarterly Report on Form 10-Q for the period ended June 30, 2026, filed by BHAV Acquisition Corp, a blank-check company. First quarterly report after IPO. Trust account funded with $100 million, now $100,979,443 including interest. Cash $692,704, working capital $639,188. Over-allotment option expired on May 3, 2026, resulting in forfeiture of 500,000 Founder Shares. No business combination target identified yet. Management has determined that substantial doubt exists about the company's ability to continue as a going concern due to mandatory liquidation within 12 months if no business combination is completed by June 20, 2027 deadline. Why it matters: Provides first post-IPO financial snapshot and confirms trust account value. Discloses going concern risk and upcoming deadline. Important for investors tracking redemption timeline and deal progress. Also reports that the company's focus industries include advanced robotics, EVs, drones/UAS, and fintech.
●What changed:Q2 2026 10-Q of Greenland Technologies Holding Corporation (Nasdaq: GTEC), filed under Greenland Acquisition Corp's CIK. The balance sheet shows cash of $8,980,604 versus $7,775,330 at December 31, 2025, accounts receivable of $30,472,900 versus $17,256,479, notes receivable of $22,146,768 versus $14,704,079, inventories of $24,623,617, total current assets of $125,799,314 and total assets of $147,526,268 versus $115,772,341. Total liabilities rose to $64,632,102 from $49,452,420, including bank-acceptance notes payable of $20,263,519 and accounts payable of $35,032,772. Why it matters: A single-class ordinary share structure became a dual-class Class A / Class B structure during the half-year, and receivables plus notes receivable grew by roughly $20.7 million while cash grew $1.2 million. Warrant liability fell to $18,900 from $70,910.
●What changed:Q2 2026 10-Q of Dragonfly Energy Holdings Corp. (Nasdaq: DFLI), filed under Chardan NexTech Acquisition 2 Corp's CIK. Net sales were $13,159 thousand for the quarter versus $16,248 thousand a year earlier and $22,863 thousand for the six months versus $29,604 thousand. Gross profit was $4,343 thousand versus $4,605 thousand; loss from operations $(2,899) thousand versus $(3,281) thousand; interest expense fell to $1,536 thousand from $5,442 thousand; net loss was $(4,386) thousand versus $(7,034) thousand, and $(11,011) thousand for the six months. Why it matters: Sales fell 19% year over year while interest expense fell by $3.9 million, so the smaller net loss comes from the capital structure rather than from operations. Equity crossed into deficit during the half-year and cash is down about two thirds.
●What changed:Q2 2026 10-Q of Zapata Quantum, Inc., filed under Andretti Acquisition Corp's CIK; the cover states no securities registered under Section 12(b). The company reported no revenue in either period. Operating expenses were $1,627 thousand for the quarter versus $584 thousand, producing a net loss of $(1,835) thousand against net income of $2,700 thousand a year earlier, which had included gains on extinguishment of a forward purchase agreement settlement liability ($2,357 thousand) and of liabilities ($1,197 thousand). Why it matters: The quarter's cash increase and the move out of stockholders' deficit come from a preferred-stock financing, not operations, and the prior-year comparative income was extinguishment gains. Convertible promissory notes of $3,107 thousand and senior secured notes of $1,430 thousand remain classified current.
●What changed:Q2 2026 10-Q of LanzaTech Global, Inc. (Nasdaq: LNZA), filed under AMCI Acquisition Corp. II's CIK. The cover states 13,089,163 shares of common stock outstanding as of August 10, 2026 for the quarterly period ended June 30, 2026. The forward-looking statements section identifies, among the matters it covers, the company's ability to continue operations as a going concern, its ability to raise substantial additional financing, maintenance of its Nasdaq listing, and remediation of material weaknesses in internal control over financial reporting. Why it matters: This summary is drawn from the cover page and the cautionary note of the report; the balance sheet and statements of operations are not covered here. LanzaTech's Q2 2026 figures are stated in the company's earnings release filed the same day (accession 0001628280-26-056930).
●What changed:Q2 2026 10-Q of AirJoule Technologies Corporation (Nasdaq: AIRJ), filed under Power & Digital Infrastructure Acquisition II Corp's CIK. Cash, cash equivalents and restricted cash rose to $41,417,134 from $21,848,455 at December 31, 2025, while the equity-method investment in AirJoule, LLC fell to $263,498,454 from $316,657,273; total assets were $306,840,266 versus $340,642,232. Why it matters: Almost the entire six-month loss is the non-cash equity loss on the AirJoule, LLC stake, which is also the largest asset on the balance sheet; operating loss was $7,722,813. Cash nearly doubled through equity issuance rather than operations.
●What changed:First Q2 report filed under the post-deSPAC name: the registrant is now Teamshares Inc. (Nasdaq: TMS / TMSWW), not Live Oak Acquisition Corp. V. The Live Oak V / Teamshares merger ran off the Agreement and Plan of Merger dated November 14, 2025, amended April 1, 2026 and May 13, 2026, with the Form S-4 (File No. 333-294869) declared effective May 27, 2026 and supplemented June 3, 2026. As of August 11, 2026 there were 73,660,516 shares of common stock outstanding, and the company is no longer a shell company. Why it matters: Confirms the Live Oak V deSPAC closed and the vehicle now trades as an operating company (tech-enabled SME employee-ownership platform) rather than a trust. LOKV should no longer be tracked as a live, searching SPAC.
●What changed:Q2 2026 10-Q of Owlet, Inc. (NYSE: OWLT), filed under Sandbridge Acquisition Corp's CIK. The cover states 29,221,677 shares of common stock outstanding as of August 13, 2026 for the quarterly period ended June 30, 2026. The cautionary note identifies, among the matters its forward-looking statements cover, liquidity, capital resources, runway, compliance with covenants, the ability to continue as a going concern, and the ability to remediate material weaknesses; it also refers to an Amendment No. 1 on Form 10-K/A for fiscal 2025 alongside the original Form 10-K. Why it matters: This summary is drawn from the cover page and the cautionary note of the report; the balance sheet and statements of operations are not covered here.
●What changed:Quarterly report (10-Q) for the period ended June 30, 2026, filed by SPACSphere Acquisition Corp. (SSAC). The filing confirms the May 29, 2026 Business Combination Agreement with Mobilewalla Holdco, Inc. (deal progress). Trust account per-share value grew to $10.14 (from $10.00 at IPO), with total trust assets of $174,896,125 as of June 30, 2026. The company reported net income of $1,335,802 for the first six months (all from trust interest). A working capital deficit and going concern warning remain, with a May 9, 2027 deadline to close the deal. Sponsor owes the company $192,493 due to an overpayment. No changes to deadline or extension terms. Why it matters: Investors relying on the trust redemption value see it has increased to $10.14 per share. The signed Business Combination Agreement with a named target (Mobilewalla) indicates active deal pursuit, but the going concern disclosure reminds holders that failure to close by May 2027 triggers liquidation. The filing provides the first post-IPO detailed view of trust accretion, expenses, and sponsor-related transactions.
●What changed:Quarterly report on Form 10-Q for the SPAC Irenic Acquisition Corp. for the period ended June 30, 2026, its first such report since its IPO in April/May 2026. The SPAC consummated its IPO of 22,000,000 units at $10.00 per unit on April 29, 2026, and the underwriters partially exercised their over-allotment option on May 1, 2026, for an additional 3,253,188 units, raising total gross proceeds of $252,531,880. After offering costs ($15.8M) and private placement proceeds ($7.05M), the trust account held $254,059,864 at June 30, 2026, an increase of $1.53M from interest income, resulting in a trust value of $10.06 per share. The SPAC has not yet identified a target business. It entered into a forward purchase agreement with an affiliate (Irenic Capital Evergreen Master Fund LP) for $50M. The sponsor forfeited 11,703 founder shares upon the partial over-allotment exercise. The company reported a material weakness in internal control over financial reporting related to the financial statement review process. Post-balance-sheet, the administrative services agreement was amended to allow payment to an affiliate of the sponsor. No working capital loans were outstanding as of June 30, 2026.
●What changed:Quarterly report on Form 10-Q for NewHold Investment Corp IV, a blank-check SPAC in its pre-business-combination phase. This is the company's first 10-Q since its IPO on April 16, 2026, which closed at $201.25 million. The trust now holds $202.7 million equating to $10.06 per share. The company reported net income of $854,000 for Q2 and $816,000 YTD, primarily from trust interest income. The CFO resigned in July 2026 and was replaced. Why it matters: The filing confirms the trust is fully funded at $10.06 per share, slightly above the $10.00 IPO proceeds. The company has until April 16, 2028 to complete a business combination. The CFO change and $250,000 working capital withdrawal from the trust in August 2026 are updates on sponsor conduct and cash management. No target has been identified.
●What changed:APAD closed its Business Combination on May 7, 2026 with Enhanced Ltd., with 19,611,370 shares redeemed for $201.7M, leaving only ~$3.0M trust cash released to the combined company. Post-close, the company trades as ENHA on NYSE with 128,972,162 Class A and 258,837,933 Class B shares outstanding, and reported a $61.9M net loss for Q2 2026 with a going-concern warning. Why it matters: Near-total redemptions (98%+ of trust) left minimal cash for the combined entity, which is burning $44M/quarter in operating cash flow and has only $19.6M cash on hand. A $50M PIPE is funding survival (Tranche 1 $25M closed, Tranche 2 $11.7M closed July 23, Tranche 3 ~$13.3M pending), but the company explicitly states substantial doubt about continuing as a going concern within 12 months.
●What changed:Quarterly report on Form 10-Q (unaudited financial statements, notes, and management discussion and analysis) for the period ended June 30, 2026. The company entered into a Business Combination Agreement with InoBat AS on July 24, 2026, valuing InoBat at $1,265,000,000 (upfront $575,000,000 plus earn-out $690,000,000). Shareholders approved a fourth extension of the termination date from August 5, 2026 to August 5, 2027, with 2,601,058 Class A shares redeemed at $12.50 per share for $32.5 million, leaving $5,940,297.03 in the trust account. The sponsor agreed to forfeit all private placement warrants, transfer 800,000 Class A shares to an institutional PIPE investor, cancel $1,800,000 of sponsor loans, and exchange $9,200,000 of sponsor loans into 90,196 ListCo Series B Preference Shares and 901,961 PIPE warrants. PIPE investments include $50 million from an institutional investor for 490,196 Series A Preference Shares and $27.5 million from other investors for 269,608 Series B Preference Shares. As of June 30, 2026, trust account held $38,380,594 ($12.48 per share), net loss for the quarter was $699,615, net income for six months was $2,395,143.
●What changed:First Quarterly Report on Form 10-Q for the period ended June 30, 2026, covering inception (January 19, 2026) through June 30, 2026, including unaudited financial statements, MD&A, and disclosures related to the IPO and Private Placement, with no definitive agreement for a business combination yet. The SPAC completed its IPO on May 28, 2026, and a partial over-allotment exercise on June 4, 2026, resulting in $158,287,500 placed in trust (approx. $10.08 per share as of August 13, 2026). Net income of $347,039 for the quarter and $265,493 since inception. Working capital of $546,711. No business combination target identified. Subsequent to quarter end on July 10, 2026, the remaining over-allotment option expired and 500,000 Class B ordinary shares were forfeited by the Sponsor. Why it matters: Sets the post-IPO baseline financials for the SPAC. Confirms trust value per share is $10.08, with a deadline of August 28, 2027. Confirms sponsor forfeiture of shares after over-allotment expiration, indicating potential alignment of incentives. Provides transparency on cash burn and working capital for investors tracking the SPAC's ability to fund search and deal costs.
What changed:Quarterly report (Form 10-Q) for the six months ended June 30, 2026, filed by D. Boral Acquisition I Corp., a blank check company searching for a business combination. The company completed its initial public offering on February 12, 2026, raising $287.5 million in gross proceeds, plus $2 million from a private placement to the sponsor. The trust account now holds $291.5 million ($10.14 per public share). Net income of $3.7 million for the six months came entirely from interest on the trust. No business combination has been announced. The company continues to search for a target and has a deadline of August 6, 2027 (18 months from IPO, with possible 21-month extension). Management has identified a going concern risk if no combination is completed by that date. Why it matters: The trust per-share value of $10.14 slightly exceeds the $10.00 IPO price, showing interest accretion. The deadline is over a year away, so no immediate redemption pressure. The going concern disclosure is standard for pre-deal SPACs but underscores the time constraint. No sponsor conduct issues or deal progress to report.
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026, filed by SIM Acquisition Corp. I, a blank check SPAC. Shareholders approved extension of Combination Period to July 12, 2027; 22,447,232 public shares redeemed at ~$10.79 each, reducing trust assets from $245M to $6.1M; entered into non-binding LOI with American Industrial Technologies (AIT) for acquisition of 100% equity; new sponsor group acquired sponsor interests and appointed new CEO and directors; issued $1.5M promissory note to sponsor, net carrying $731k; converted 3M Class B shares to Class A; trust per-share value $10.88; cash outside trust $260k; working capital deficit and going concern risk noted. Why it matters: The trust has been severely depleted by redemptions, leaving only 552,768 public shares and $6.1M in trust. This raises the per-share floor but limits firepower for a deal. The non-binding LOI with AIT (a telecom/logistics platform) signals a target but is not yet definitive. The sponsor change and new management could alter deal terms or strategy. The company faces substantial doubt about its ability to continue as a going concern and must complete a business combination by July 12, 2027.
●What changed:Quarterly Report (Form 10-Q) for the period ended June 30, 2026. The trust grew from approximately $10.21 per share at year-end 2025 to $10.39 per share as of June 30, 2026, due to $4,576,349 in interest income. The company reported net income of $4,278,192 for the first half of 2026. Cash held outside trust declined to $729,941. Management disclosed substantial doubt about the company's ability to continue as a going concern, citing the June 26, 2027 deadline and expected costs in pursuing a business combination. No business combination agreement has been entered into. Why it matters: This 10-Q provides the first full-quarter financial update since the IPO and confirms that the SPAC is now operating under a going concern qualification with roughly one year left before its mandatory liquidation deadline. The trust value per share has increased slightly, providing a modest cushion above $10.00 for redeeming shareholders. No deal has been announced, and no working capital loans have been drawn, indicating the company is still in the early search phase with limited cash outside trust while incurring its ongoing administrative expenses.
●What changed:Quarterly Report (Form 10-Q) for Viking Acquisition Corp. II (a blank check/spac), covering the period from inception (February 24, 2026) through June 30, 2026. This is the first quarterly filing since the SPAC's IPO. It reports pre-IPO formation and offering activity. Key details: (1) The IPO closed on July 6, 2026, selling 23,000,000 units (incl. full exercise of 3,000,000 over-allotment) at $10.00 per unit, placing $230,000,000 ($10.00 per share) in Trust. (2) Trust $10.00/share. (3) Deadline is 24 months from IPO, i.e., July 6, 2028. (4) Sponsor note of up to $100,000 was used and fully repaid at IPO closing. (5) Independent directors and an insider received founder shares (250,739 shares total) at a fair value of $3.43 per share, recognized as $860,035 share-based compensation. (6) The Company has a 24-month completion window (extensions not disclosed). Management discloses substantial doubt about going concern. (7) The Company stated it has not selected a target nor initiated discussions. Why it matters: This is the foundational financial and structural baseline for this new SPAC. The trust is exactly $10.00 per share with a long 24-month deadline compared to many peers. The share-based compensation grant to directors/insider is material at $860,035. The filing also explicitly states the company is still searching and has no target discussions, which sets a clean clock. For redemption calculators, the closing date is known; for trust value, it is clean $10.00.
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026, filed by YHN Acquisition I Limited, a blank check company (SPAC) searching for a business combination. The company extended its business combination deadline to September 19, 2026 by depositing $150,000 each on December 15, 2025, March 19, 2026, and June 17, 2026. The trust account value is $27,832,053 (redemption price $10.98 per share). It reported a net income of $210,439 for the six months ended June 30, 2026, but has a working capital deficit of $1,262,899 and going concern uncertainty. The company received Nasdaq deficiency notices for MVPHS, MVLS, and minimum total holders. The business combination agreement with Mingde Technology Limited remains in place, with an amended outside closing date of June 19, 2026, which may have passed; the company now has until September 19, 2026 to close. Why it matters: The filing provides critical updates on the SPAC's timeline, trust account value, and financial health. The company is running out of time and has Nasdaq compliance issues, increasing the risk of liquidation. The trust value per share is above the $10.00 IPO price, but redemptions and ongoing expenses are eroding the trust. The working capital deficit and going concern disclosure indicate potential liquidity problems. The deal with Mingde is still pending but may have missed its outside closing date, putting the business combination at risk.
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026. Shareholders approved 12 monthly extensions to June 6, 2027. 5,889,094 public shares were redeemed for ~$62.4M ($10.59/share), reducing trust to $29.3M and outstanding Class A shares to 2,980,156. Sponsor deposited $120k for extensions through August 6, 2026, but $60k for September 6, 2026 remains undeposited. Working capital loans grew to $1,208,500. The net tangible assets condition in the MacMines merger agreement was removed via Amendment No. 1 on April 14, 2026. The merger agreement target (MacMines Austasia Pty Ltd) owns a Queensland mining lease application. Company has a working capital deficit of $1,226,059 and $352 cash, raising substantial doubt about going concern. Why it matters: The large redemption (68% of public shares) sharply reduced the trust and signals weak investor confidence in the MacMines deal and sponsor. The missing September extension payment creates a near-term deadline risk. Removing the net tangible assets condition makes closing easier but may indicate a cash-poor combined entity. The $352 cash balance and going concern warning highlight acute liquidity stress, with the company dependent on sponsor loans. The Australian mining target adds sector-specific execution risk.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by Berto Acquisition Corp., a SPAC searching for a business combination. The LOI with OnMed LLC expired on March 23, 2026, with no definitive agreement signed. The company reported a net income of $1.1 million for Q2 2026 ($3.3 million year-to-date), driven by $2.7 million in trust investment income, but offset by $1.6 million in G&A (including $1.4 million in merger expenses). Trust value per share increased to $10.46 from $10.28 at year-end 2025. Cash on hand fell to $147,000, with a working capital deficit of $2.1 million. Management reiterated substantial doubt about going concern if no deal closes by May 1, 2027, and noted no progress on working capital loans. Why it matters: The trust value per share has grown to $10.46, giving public shareholders a small premium over the IPO price. The sponsor's search is continuing with no new target announced after the OnMed LOI expired. The burn rate (about $250k in operating cash used this quarter) means the SPAC likely needs sponsor advances or a quick deal to avoid liquidation risk. The filing shows no insider redemptions or new material agreements.
●What changed:10-Q (Quarterly Report) for Translational Development Acquisition Corp. for the quarter ended June 30, 2026. The deal (ProLogium Business Combination) was announced on May 27, 2026, after which the SPAC converted all 4,657,499 Class B founder shares into Class A shares on June 12, 2026. On June 17, 2026, shareholders approved up to 12 one-month extensions to June 24, 2027, but 2,598,697 public shares were redeemed for ~$27.8 million, reducing trust shares outstanding from 17,250,000 to 14,651,303. The trust value per share was $10.73 at period end, up from $10.53 at year-end 2025. On July 27, 2026, the SPAC secured a $50 million PIPE from Naetas Holding Limited at $10.00 per share. The sponsor loan balance grew from $200,000 to $1,100,000 during the period. Why it matters: This filing provides the first financial statement verification of the merger agreement and its consequences: massive public redemption (15% of shares), thorough conversion of all founder Class B shares, and tangible PIPE financing. The trust is healthy at above-par value, extensions are funded, and the going-concern risk is flagged but manageable with the extended deadline. The filing also reveals the sponsor is funding operations through a promissory note.
●What changed:Quarterly Report on Form 10-Q. Mozayyx Acquisition Corp. filed its first quarterly report as a public company covering the period ending June 30, 2026. The report details the completion of its IPO on February 26, 2026, underwriting terms, and the initial financial position including a trust account balance of $303,593,729. It also discloses: (1) the over-allotment option partially exercised with the remaining 3,750 shares forfeited on April 12, 2026; (2) a forward purchase agreement with non-binding interests of up to $25mm each from Payward Inc. and Mozayyx Master Fund for up to $50mm total; and (3) warrants valued using a Black-Scholes model assuming a 32% probability of an initial business combination. Why it matters: This is the SPAC's first 10-Q post-IPO, establishing baseline disclosure mechanics. Key items for investors: trust value at $10.12/share (above the $10.00 trust floor), $1.2mm working capital outside trust, no target business selected yet, and a 24-month deadline (Feb 2028). The low 32% initial business combination probability used in the warrant valuation model is a notable transparency metric. The Forfeiture of 3,750 B shares and expiration of the over-allotment option are procedural but confirm no additional capital was raised. The forward purchase agreement remains non-binding without a guarantee of closing.
●What changed:Quarterly Report (Form 10-Q) for the period ended June 30, 2026, filed by Berto Acquisition Corp. II, a blank-check company that completed its IPO on May 18, 2026. This is the first 10-Q since the IPO. The trust holds $316.4 million ($10.04 per share on 31,510,000 public shares). Net income was $1.1 million for the quarter ($1.3 million trust interest less $0.3 million G&A). Cash outside trust is $1.1 million. Deferred underwriting commissions of $12.3 million are recorded. Post-period, on July 31, 2026, CFO Robert You resigned and Executive Chairman Vikas Mittal was appointed Interim CFO. Why it matters: Confirms trust value at $10.04/share as of June 30. Documents the CFO resignation and succession to Executive Chairman, which concentrates executive power. The SPAC has until May 18, 2028 (extendable to Aug 18, 2028 with a signed deal) to complete a combination. No target or deal has been announced.
●What changed:Quarterly report on Form 10-Q. This Form 10-Q indicates that American Drive Acquisition Co.'s trust account balance increased to $234,309,437 (approximately $10.18 per share) as of June 30, 2026, compared to $230,229,221 at year-end 2025, attributable to $4,080,216 in interest income earned over the first half of 2026. Management explicitly triggered a going concern warning, stating the company currently lacks the liquidity required to sustain operations indefinitely without completing a business combination. No extensions were approved, no merger agreements were signed, and no sponsor misconduct occurred; the statutory liquidation deadline remains fixed at December 19, 2027. Why it matters: The continuous accretion of funds within the trust account supplies a modest premium over the conventional $10.00 baseline, slightly improving the net redemption floor for public shareholders who might choose to exit. Conversely, the formal going concern declaration materially heightens execution risk, alerting investors that management anticipates sustained cash outflows for targeting and due diligence while actively scanning sectors like defense, logistics, transportation, technology, and AI. Because the mandatory two-year completion window remains open through December 2027, shareholders face prolonged illiquidity and a tangible threat of pro-rata liquidation distributions if no acquisition transaction closes in time.
●What changed:Quarterly Report (Form 10-Q) for the period ended June 30, 2026, filed by Launch Two Acquisition Corp., a blank-check company that has announced a business combination with NuCube Energy, Inc. On June 25, 2026, the SPAC entered into a definitive Business Combination Agreement with NuCube Energy, Inc. (the target). As of June 30, 2026, the SPAC had a working capital deficit of $1,002,980 (vs. a surplus of $203,333 at December 31, 2025) and only $23,197 cash on hand. General and administrative costs surged to $1.0 million in Q2 2026 from $0.2 million in Q2 2025 due to deal-related expenses. After quarter-end, on August 7, 2026, the Sponsor advanced $750,000 for working capital. The trust account held $247.7 million ($10.77 per public share) as of June 30, 2026. The going concern disclosure was updated to reflect substantial doubt about the SPAC’s ability to continue as a going concern. The business combination requires at least $75 million of combined trust proceeds and external financing at closing, and the SPAC and NuCube are required to use reasonable best efforts to obtain at least $100 million in transaction financing.
What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, from Helix Acquisition Corp. III, a blank-check SPAC. This is the first 10-Q since the IPO; it reports the trust account funded at $175,054,966 ($10.15 per public share), net income of $1,334,048 for the quarter and $2,175,021 for the six months from interest earned, and a correction of an immaterial EPS error for the prior quarter. No extensions, deals, or redemptions are disclosed. Why it matters: The SPAC remains in the searching phase with a deadline of Jan. 23, 2028. The trust is fully funded with yield accumulating, and management reports sufficient liquidity to operate. No business combination target is announced. The EPS correction (private placement shares omitted from Class A basic shares for Q1 2026) is an accounting cleanup but does not affect trust value or redemption mechanics.
●What changed:SEC Form 10-Q (Quarterly Report) for AI Infrastructure Acquisition Corp. covering the period ended June 30, 2026. Company management reports that the Trust Account balance accreted to $141,722,933, establishing a per-share redemption value of $10.27. The filing discloses that for the six months ended June 30, 2026, the Company recorded $2,158,548 in net income, primarily from $2,467,934 in trust interest income, partially offset by $328,527 in general and administrative expenses. On structural mechanics, management confirms there have been no extensions or amendments to the Articles altering the fixed liquidation deadline of April 6, 2027. Regarding deal progress, the filing states the Company has engaged an investment bank to advise on one potential target and maintains confidentiality agreements with other prospects, but explicitly notes it has not entered into any definitive agreement, letter of intent, or term sheet. Concerning sponsor conduct and related party activity, the filing reveals the Company paid $30,000 and $60,000 in monthly administrative fees for the quarter and year-to-date, respectively, transferred 72,000 founder shares valued at $94,800 to independent directors, and confirms outstanding working capital loans and promissory notes remain at $0. Cash held outside the Trust Account stands at $858,302. Additionally, management explicitly acknowledges that the mandatory liquidation and subsequent dissolution schedule raises substantial doubt about the Company’s ability to continue as a going concern.
What changed:Quarterly Report (Form 10-Q) for Cantor Equity Partners VII, Inc. for the quarterly period ended June 30, 2026, filed August 14, 2026, covering the period immediately following its IPO on June 18, 2026. No changes to redemption deadlines, trust value, extension, or deal progress. Trust value per share is $10.16 (up from $10.00 IPO price due to interest). Sponsor surrendered 937,500 Class B shares after over-allotment not exercised. No business combination has been announced; the SPAC remains in the searching phase with a deadline of June 18, 2028. Why it matters: The filing confirms the trust is fully funded at $250M, yielding $0.16 per share in interest. The sponsor's commitment to fund $0.15 per share via a promissory note for redemptions is reiterated. No deal or extension activity means investors should monitor for future announcements. The SPAC has 24 months to complete a combination.
●What changed:Quarterly Report (Form 10-Q) for the period ended June 30, 2026. This first 10-Q reports the completion of the IPO and over-allotment in May 2026, with $185.6 million in trust (18.4M shares at $10.08 per share). No business combination target has been identified or discussions initiated. The company has a working capital deficit of $210,981 and a going concern disclosure. Management reported a material weakness in internal controls over financial reporting due to inadequate segregation of duties and insufficient written policies. Why it matters: Investors now have a baseline trust value of $10.08 per share, with the deadline for a business combination set at 15 months from the IPO (August 2027), extendable to 18 months. No deal progress indicates the SPAC is in early search phase. The going concern warning and negative working capital signal potential liquidity risk before a deal closes. The internal control weakness may affect filing timeliness and investor confidence. Sponsor conduct appears standard with no adverse actions.
●What changed:Form 10-Q (Quarterly Report) for Quantumsphere Acquisition Corp. Trust value increased from $84.8M to $85.6M due to $751k of interest income; cash dropped to $4.9k; working capital deficit widened to $143k; the merger deadline of July 31, 2026 passed without closing; management disclosed a material weakness in internal controls; net income of $574k vs loss of $16k in prior-year quarter; no new forward filings for the pending de-SPAC were announced. Why it matters: The SPAC missed its own merger deadline on July 31, 2026 but remains alive only because the longer February 6, 2027 liquidation deadline has not been reached. Cash is nearly gone, with only $4,901 on hand and a working capital deficit. The trust is intact at $10.34 per share. No extension vote, no new termination, and no updated merger timeline were disclosed, making it unclear how the SPAC plans to fund operations or close a deal. The identified material weakness in disclosure controls adds governance risk.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by Cantor Equity Partners V, Inc., a blank-check company still searching for a business combination. Trust account per-share value increased to $10.24 (from $10.06 at year-end 2025), driven by $4.66 million in interest income. The company drew down $155,012 of the $1,750,000 sponsor loan, resulting in a negative working capital of $42,000 as of June 30, 2026 (versus positive working capital of $208,000 at December 31, 2025). No business combination was announced, and no redemptions occurred. The sponsor incurred $60,000 in administrative service fees and $12,000 in reimbursable expenses remained payable. Why it matters: Trust accretion improves the minimum redemption floor for public shareholders, but the small working capital deficit and reliance on sponsor loans highlight the ongoing cash burn. The absence of any target announcement with only 15 months remaining in the 24-month combination period (deadline November 5, 2027) increases pressure to find a deal or liquidate.
●What changed:Cycurion, Inc. reported second-quarter revenue of $3,757,076 against $3,887,915 a year earlier and six-month revenue of $7,025,696 against $7,757,965, so revenue fell while gross profit rose to $1,093,337 from $235,937 for the quarter. Net loss was $4,039,567 for the quarter against $5,290,414, including a $1,930,427 loss on debt settlement. Cash fell to $1,873,287 from $5,255,235 at December 31, 2025, while goodwill and intangibles rose to $27,617,398 from $20,842,508 and current liabilities to $19,531,722. Why it matters: Current liabilities of $19,531,722 stand against total current assets of $5,950,751 — a working capital deficit of roughly $13.6 million on a company holding $1.87 million of cash. Convertible notes rose to $2,686,748 from $192,897 and accrued liabilities to $7,613,943 from $4,228,337, so the balance sheet is being funded by accruals and converts while intangibles grow through acquisition, including the Kustom video-solutions assets bought on August 3, 2026. An excise tax payable of $1,167,173 from the de-SPAC remains unpaid.
●What changed:Quarterly report on Form 10-Q (X3 Acquisition Corp. Ltd., a SPAC still searching for a target). Trust value per share increased to $10.16 from $10.00 at IPO due to interest income. Cash outside trust is $644,214; working capital $937,597. No business combination announced. Over-allotment option expired March 6, 2026, resulting in 125,000 founder shares forfeited. Sponsor owes the Company $375,000. Substantial doubt about going concern expressed, though management plans to complete a business combination within the 24-month window (through January 2028). No subsequent events requiring adjustment. Why it matters: For investors tracking redemption deadlines and trust value: trust per share is $10.16, deadline is 24 months from IPO (January 2028). No deal or extension yet. Sponsor conduct includes a $375,000 receivable from sponsor and prior overpayment refund. No material litigation or risk factors beyond standard SPAC risks. The going concern language is a caution but typical for pre-combination SPACs.
●What changed:Form 10-Q quarterly report for the fiscal period ended June 30, 2026, detailing unaudited condensed financial statements, significant accounting policies, and material subsequent events. The trust account redemption value per public share increased to $10.71 as of June 30, 2026. The combination deadline remains January 8, 2027. Why it matters: The automatic termination of the entire equity and debt PIPE stack eliminates the primary funding mechanism for the business combination, significantly raising the probability that the Company will fail to consummate the merger before the January 8, 2027 liquidation deadline. This extends the period that public capital remains trapped in escrow, while the sponsor's $1,750,000 Sponsor Loan and $3,000,000 Sponsor Note remain outstanding without conversion, complicating the path to liquidation or a revised restructuring.
What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by FutureCrest Acquisition Corp., a blank check SPAC in searching stage. Trust account value per share increased from $10.10 at December 31, 2025 to $10.28 at June 30, 2026 due to interest income of $2,592,208 (Q2) and $5,144,842 (six months). Working capital deficit of $153,839; cash outside trust $628,302. Company continues search for a business combination target; no substantive discussions with any target disclosed. No extension or amendment to completion window (24 months from September 29, 2025 IPO). Going concern substantial doubt raised due to liquidity constraints, but management intends to complete business combination before deadline. Sponsor conduct: no new working capital loans, no related party amounts due. No legal proceedings. Why it matters: Routine quarterly update showing the SPAC remains in searching stage with modest trust value growth. The going concern disclosure and tight working capital position are notable but typical for pre-combination SPACs. No changes to redemption mechanics, deadlines, or sponsor arrangements. Important for investors tracking trust value accretion and cash burn, but no material new deal progress or sponsor red flags.
●What changed:Quarterly report on Form 10-Q for Centurion Acquisition Corp. (ALF). According to the Company’s Q2 2026 10-Q filing, on June 12, 2026, public shareholders approved extending the business combination deadline to June 12, 2027. The Company reports that 23,802,843 public shares were redeemed at approximately $10.89 per share, withdrawing roughly $259.3 million from the Trust Account and reducing the surviving balance to approximately $54 million across ~4.95 million shares. The Company discloses that to secure the extension, the Sponsor executed Non-Redemption Agreements with investors holding ~4.67 million shares, promising to transfer ~1.56 million future class A shares post-combination; the Company recognized a $1,187,449 corresponding expense. The Company also reports converting all 7.19 million founder shares to class A on June 8, 2026. Why it matters: As disclosed by management, the near-total public redemption and reliance on sponsor-funded equity commitments to secure the extension highlight acute liquidity strain, corroborating the Company’s own going-concern warning regarding a $358,197 working capital deficit and just $1,853 in operating cash. The disclosure indicates mounting pressure to preserve the SPAC vehicle despite overwhelming public exit, while the unchanged $13,687,500 deferred underwriting obligation remains a structural drag on surviving trust value through the extended June 2027 deadline.
●What changed:Form 10-Q quarterly report for GSR IV Acquisition Corp. for the quarter ended June 30, 2026. Trust account value increased from $232,887,973 ($10.13 per share) at Dec 31, 2025 to $236,762,480 ($10.29 per share) at June 30, 2026, due to interest earned. Net income for the quarter was $1,761,315. No business combination announced; still searching. Going concern warning reiterated due to limited working capital and mandatory liquidation if no deal by deadline. Why it matters: Trust per share increase adds small value for potential redemption. Deadline remains March 5, 2027 (18-month) or June 5, 2027 (21-month). No extension sought yet. Company has limited working capital ($1.26M) and may need to liquidate if no deal by deadline. Related party underwriter (Polaris) $9.2M deferred fee due only if deal closes.
●What changed:Quarterly Report (Form 10-Q) for Drugs Made In America Acquisition II Corp. for the period ended June 30, 2026. Redeemable ordinary shares increased from $504,933,800 (redemption value $10.10 per share) at December 31, 2025 to $513,882,333 (redemption value $10.28 per share) at June 30, 2026, reflecting $8,948,533 in accretion resulting from Trust Account interest earnings. The Company issued $450,000 in promissory notes (Alpha Promissory Notes) in March 2026, including a $150,000 Bridge Note and a $300,000 Second Note, convertible at a 35% discount to market price upon a business combination. A CEO Compensation Agreement was entered on April 22, 2026, granting the CEO $4,500/month compensation and 250,000 ordinary shares issuable upon a definitive agreement. The Consulting Agreement for the CFO was updated on April 22, 2026, increasing the share grant from 100,000 to 175,000 ordinary shares. The Administrative Support Agreement with the sponsor was cancelled in March 2026; the Company reclassified $30,000 as a capital contribution. The Company recorded a $782,113 reserve for credit losses against the Due from Sponsor, as the sponsor has not repaid the outstanding balance despite board directive.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026 — Infinite Eagle Acquisition Corp. is a blank-check company that completed its IPO in January 2026 and is searching for a business combination target. No business combination announcement. Trust account value grew from $345,000,000 at IPO to $348,455,281 as of June 30, 2026. Cash held outside trust was $454,112. Net income of $2,956,554 and $4,081,339 for the three and six months ended June 30, 2026, respectively, driven entirely by interest earned on the trust account ($3,112,031 and $4,455,281). General and administrative expenses were $155,477 and $373,942 for those periods. The Company withdrew $500,000 each in February and June 2026 from the trust for working capital. Deferred underwriting commissions of $12,075,000 remain payable from trust upon a business combination. Completion deadline is 24 months from IPO (January 2028), extendable to 30 months if a definitive agreement is signed within 24 months. Why it matters: This is a standard post-IPO quarterly filing with no new deal news. The trust value per share has grown to approximately $10.10 due to interest earned. The sponsor took small working capital withdrawals ($1M total), indicating manageable cash burn. No red flags: no loans from sponsor under working capital facility, no litigation, no insider trading plan changes. The deadline (January 2028) gives ample time for a search.
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026, filed by blank-check company EQV Ventures Acquisition Corp. II (EVAC). Routine quarterly filing; no business combination has been announced. Trust value per share increased from $10.19 at Dec 31, 2025 to $10.36 at Jun 30, 2026, driven by $8.6M of interest income in H1 2026. Net income of $7.9M vs. net loss of $49K in H1 2025. Company withdrew $500K from trust interest for working capital in H1 2026. Director Derek Rush was appointed to the board and audit committee on July 2, 2026, subsequent to quarter end. The Company added a new risk factor explicitly flagging substantial doubt about ability to continue as a going concern, since the mandatory liquidation deadline is July 3, 2027. Why it matters: Trust per-share value ($10.36) continues to accrete above the IPO price, which is relevant for any future redemption math. Management has formally flagged going concern uncertainty; this is the first explicit risk factor of this nature in this SPAC’s filings. No extension mechanism has been disclosed beyond the 24-month deadline. No deal progress or target identified. No Working Capital Loans drawn; sponsor appears to be funding ordinary expenses directly.
●What changed:Q2 2026 10-Q of Agriculture & Natural Solutions Acquisition Corporation (Nasdaq: ANSC). Cash held in trust was $376,705,935 at June 30, 2026 versus $365,968,284 at December 31, 2025, with 32,922,237 Class A shares subject to possible redemption at $11.44 per share versus $11.12. Cash outside trust is $1. Why it matters: Redemption value is $11.44 per public share at June 30, 2026, and the trust is intact. Outside trust the shell holds $1 of cash against $22.2 million of current liabilities, of which $5.3 million is extension notes that grew by $3.95 million in six months.
●What changed:Quarterly report (Form 10-Q) for Cantor Equity Partners VI, Inc. (CEPS), a blank-check SPAC still searching for a business combination, covering the period ended June 30, 2026. First 10-Q since IPO (closed Feb 6, 2026). Trust account now holds $116.6 million ($10.14 per share vs $10.00 IPO price), interest income of $1.6M earned. Operating cash $25k, working capital $42k. Sponsor loan of up to $1.75M with $86k drawn. No business combination announced. Sponsor-controlled affiliate (CF Secured) custodies trust assets. Why it matters: Trust per-share value ($10.14) exceeds IPO price, providing modest buffer for redemptions. Deadline is Feb 6, 2028 – no extension provisions disclosed. Sponsor has significant conflicts: trust custodian is affiliate, marketing agreement ($4.325M fee) with affiliate, sponsor loan convertible at $10.00/share. No target identified yet; cash burn minimal but reliance on sponsor for working capital.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by Israel Acquisitions Corp, a blank-check company. The SPAC terminated its business combination agreement with Gadfin Ltd. on June 22, 2026. It has no current deal. Trust account value fell to $6.41 million from $9.93 million at year-end 2025, driven by a redemption of 295,860 Class A shares for $3.68 million in January 2026. The company extended its deadline to complete a deal to January 18, 2027, with monthly $5,000 deposits from the sponsor. Working capital deficit worsened to $2.98 million (excluding trust and deferred fees). Securities were delisted from Nasdaq and now trade on OTC Pink. Post-quarter, a prospective sponsor advanced $125,000 for liquidity. Why it matters: The SPAC is now deal-less after the Gadfin termination. Trust value is small and dwindling, sponsor loans are growing ($2.19 million in related-party notes), and the company has substantial doubt about going concern. Each monthly extension costs only $5,000, but the SPAC has minimal operating cash. The post-quarter $125,000 advance signals ongoing sponsor support but highlights cash strain. Redemption rights for remaining public shareholders are a key calendar item; any new deal would likely trigger further redemptions.
●What changed:Q2 2026 10-Q of Zeo Energy Corp. (Nasdaq: ZEO), filed under ESGEN Acquisition Corp's CIK. Total net revenues were $16,169,463 for the quarter versus $18,101,930 a year earlier, as third-party revenue rose to $15,547,544 from $9,976,447 while related-party revenue fell to $621,919 from $8,125,483; six-month revenues were $29,354,407 versus $26,885,625. Loss from operations was $(2,988,955) versus $(2,853,506) and net loss $(2,749,966) versus $(2,679,464), with a six-month net loss of $(7,441,277) against $(15,998,827); loss per Class A share was $(0.07). Why it matters: Revenue composition shifted almost entirely from related-party to third-party sales year over year while total revenue fell about 11%. Cash is down 60% over the half-year and the company added convertible-note and derivative liabilities.
●What changed:Q2 2026 10-Q of CXApp Inc. (Nasdaq: CXAI). Revenue was $1,694 thousand for the quarter versus $1,223 thousand a year earlier and $2,644 thousand for the six months versus $2,447 thousand; gross profit was flat at $1,071 thousand. Loss from operations was $(4,119) thousand, but a $(5,005) thousand change in fair value of derivative and warrant liabilities took net loss to $(8,620) thousand versus $(3,139) thousand, and to $(12,623) thousand for the six months. Cash was $11,675 thousand versus $11,101 thousand at December 31, 2025 and total assets $36,540 thousand. Why it matters: The share count more than tripled in six months, almost entirely through debt conversions that reduced convertible debt by $2.6 million. The larger net loss comes from non-cash fair-value moves; operating loss was essentially unchanged year over year.
●What changed:The 10-Q filed under Commission file number 001-40725 is that of Jet.AI Inc. (Nasdaq: JTAI) for the quarter ended June 30, 2026. Revenues were $5,320,145 for the quarter against $2,225,900 a year earlier and $7,001,381 for the six months against $5,700,538, but cost of revenues exceeded revenue in every period, giving a gross loss of $183,748 for the quarter and $417,971 for the six months, and a net loss of $2,276,671 and $4,957,773. Why it matters: The company sold $27.7 million of stock in six months and multiplied its share count roughly fifty-five-fold while still selling its service below cost — every period shown has a negative gross margin. Over half of total assets are "other investments" carried at $22.9 million, which is more than four times the quarter's revenue.
●What changed:Q2 2026 10-Q of CERo Therapeutics Holdings, Inc. (CERO), filed under Phoenix Biotech Acquisition Corp's CIK. The cover lists the common stock and the warrants — each exercisable for one two-thousandth of a share — with 'None' as the exchange on which registered, and 71,630,992 shares outstanding as of August 13, 2026. Why it matters: The company states its common stock and public warrants have been delisted from Nasdaq. This summary is drawn from the cover page and the cautionary note; the financial statements are not covered here.
●What changed:The 10-Q filed under Commission file number 001-40130 is that of Brand Engagement Network Inc. (Nasdaq: BNAI) for the quarter ended June 30, 2026. The cover states that as of August 14, 2026 there were 7,488,046 shares of common stock and 1,644,096 public warrants outstanding, after giving effect to the 1-for-10 reverse stock split of December 12, 2025, each warrant carrying the right to acquire one share at an exercise price of $115.00. The Section 12(b) registered-securities table on the same cover describes the same warrants as exercisable for one share at $11.50. Why it matters: The cover of this filing gives two different exercise prices for the same warrant — $11.50 in the registered-securities table and $115.00 in the outstanding-securities paragraph — and only the second reflects the 1-for-10 split. A reader pricing the warrant from the registered-securities table alone would be off by a factor of ten. The condensed financial statements are not in the portion read here.
●What changed:The 10-Q filed under Commission file number 001-39489 is that of NUBURU, INC. (NYSE American: BURU) for the quarter ended June 30, 2026, with 370,493,812 shares of common stock outstanding as of August 12, 2026. The financial statement index names statements of convertible preferred stock, a Tekne subordinated convertible note and stockholders' equity (deficit). Why it matters: The company states on its own cover that it has not achieved full commercialization while carrying 370 million shares outstanding, convertible preferred and a subordinated convertible note — all instruments that add to that count. The condensed consolidated financial statements are not in the portion read here.
●What changed:The 10-Q filed under Commission file number 001-40228 is that of Longevity Health Holdings, Inc. for the quarter ended June 30, 2026, with no securities registered under Section 12(b) and 2,475,321 shares outstanding as of August 13, 2026. Cash fell to $35,471 from $706,740 at December 31, 2025 and total assets to $1,055,248 from $2,367,027, while total liabilities rose to $9,754,695 from $8,233,900 — including accounts payable of $5,039,806 and a contingent liability of $2,350,000 against $1,175,845 — leaving a stockholders' deficit of $8,699,447. Why it matters: Total assets of $1.06 million stand against $9.59 million of current liabilities, and the cash balance is $35,471 — the company's ability to pay its accounts payable from its own resources is not visible on this balance sheet. The contingent liability doubled in six months and a litigation settlement loss was recognised in the quarter.
●What changed:The 10-Q filed under Commission file number 001-38226 is that of All In FutureTech Alliance, Inc., formerly known as Allied Gaming & Entertainment Inc. (Nasdaq: AIFA), for the quarter ended June 30, 2026. Total revenues were $1,247,887 for the quarter against $1,919,483 a year earlier and $2,801,151 for the six months against $4,194,618. Costs and expenses for the quarter included an impairment of goodwill of $920,227 and an impairment of long-lived assets of $1,358,362, offset by a gain on lease modification of $3,446,465. Why it matters: Revenue halved year over year while the balance sheet shrank by $27.6 million, and the quarter's headline loss is small only because a $3.4 million lease-modification gain offsets $2.3 million of impairments. The company still carries $19.4 million of loans receivable against $14.0 million of loans payable.
●What changed:The 10-Q filed under Commission file number 001-41574 is that of AMC Robotics Corporation (Nasdaq: AMCI) for the quarter ended June 30, 2026, with 22,600,363 shares outstanding as of August 11, 2026. Total revenues were $937,177 for the quarter against $1,397,275 a year earlier and $2,121,793 for the six months against $3,189,800; of the quarter's revenue, $774,087 is a related-party revenue share and a further $5,143 is related-party product revenue. Gross profit rose to $750,607 from $266,581 as cost of revenues fell to $186,570 from $1,130,694. Why it matters: Eighty-three percent of the quarter's revenue comes from a related-party revenue share, and related-party receivables now exceed two-thirds of the quarter's total revenue for the year to date — the reported gross margin improvement is a change in that mix rather than in third-party trading. Liabilities are small, so the balance sheet risk here is collectability, not leverage.
●What changed:The 10-Q filed under Commission file number 001-41390 is that of OSR HEALTH, INC., formerly OSR HOLDINGS, INC. (Nasdaq: OSRH), for the quarter ended June 30, 2026, with 35,118,692 shares outstanding as of August 10, 2026 against 26,597,769 at December 31, 2025. Net sales fell to $315,669 for the quarter from $1,135,517 a year earlier and to $799,727 for the six months from $1,896,789, against selling, general and administrative expenses of $3,119,519 for the quarter, giving an operating loss of $3,032,915 and a net loss of $1,004,038 after $1,799,599 of other income. Why it matters: Roughly 98% of total assets are intangibles and goodwill against annualised sales of about $1.6 million, and the six-month comprehensive loss is nearly three times the net loss because of currency translation. The $28.8 million fall in non-controlling interests alongside a $36.3 million rise in paid-in capital indicates ownership moved from minority holders into the parent's equity during the period.
●What changed:Q2 2026 10-Q of XBP Global Holdings, Inc. (Nasdaq: XBP), filed under CF Acquisition Corp. VIII's CIK, presented on a successor/predecessor basis. Successor Q2 2026 revenue was $191,311 thousand against predecessor Q2 2025 revenue of $182,164 thousand; six-month revenue was $388,396 thousand against $372,660 thousand. The operating result was a $(3,722) thousand loss for the quarter and $(18,804) thousand for the six months, against predecessor operating profits of $5,566 thousand and $11,549 thousand. Why it matters: Successor and predecessor periods are not directly comparable, which is why the operating swing from profit to loss sits alongside a $33 million fall in interest expense. Equity fell by roughly half over the half-year while total liabilities remain about 94% of total assets. Registered warrants require ten warrants and $115.00 for one share.
●What changed:Q2 2026 10-Q of Alpha Modus Holdings, Inc. (Nasdaq: AMOD), filed under Insight Acquisition Corp's CIK. Cash rose to $2,001,007 from $68,000 at December 31, 2025 and total assets to $3,414,783 from $815,827. All 4,300,000 Series C preferred shares, carried at $41,170,508 in mezzanine equity, converted into 3,044,119 common shares during the quarter, leaving mezzanine equity at nil; Class A shares outstanding rose to 4,933,091 at June 30, 2026 from 1,064,255, and 4,966,818 as of August 14, 2026. Stockholders' deficit narrowed to $(6,125,609) from $(48,950,162). Why it matters: The deficit shrank by about $42.8 million because preferred stock converted into common, not from earnings; the six-month loss doubled year over year on professional fees. Convertible notes payable to related parties of $5,567,195 remain classified current.
●What changed:The 10-Q filed under Commission file number 001-40964 is that of Zoomcar Holdings, Inc. for the quarterly period ended June 30, 2026, comparing to a March 31, 2026 balance sheet date. The cover states that no securities are registered under Section 12(b), and that as of August 13, 2026 there were 8,770,836 common shares and 2,323 preferred shares outstanding. Why it matters: The company describes itself as quoted on OTCQB rather than exchange-listed and names current defaults on its indebtedness and a going-concern question in the same list — the uplisting it discusses is an intention, not a scheduled event. The condensed consolidated financial statements are not in the portion read here.
●What changed:The 10-Q filed under Commission file number 001-41534 is that of Citius Oncology, Inc. for the quarter ended June 30, 2026, on a September 30 fiscal year. Cash rose to $16,563,705 from $3,924,908 at September 30, 2025 and total current assets to $42,707,165 from $27,542,881, with inventory of $22,625,945; in-process research and development net of amortization fell to $69,385,938 from $73,400,000 and total assets were $112,093,103. Why it matters: Cash quadrupled while current liabilities grew $9.3 million, and the going-concern paragraph and the Nasdaq compliance question are both still live on the record. The two share counts are struck on different bases — the balance-sheet figure and the cover figure are not comparable and neither should be read as a change in outstanding shares.
●What changed:The 10-Q filed under Commission file number 001-39852 is that of Scilex Holding Company, the Delaware corporation formerly known as Vickers Vantage Corp. I, for the quarter ended June 30, 2026, with 8,493,000 shares of common stock outstanding as of August 10, 2026 and warrants exercisable at $397.89 per share. Why it matters: A biopharmaceutical de-SPAC naming a cryptocurrency treasury strategy and the 1940 Act investment-company test in the same risk list is a change in what the company holds, not only in what it sells. The condensed consolidated financial statements are not in the portion of the document read here, so no balance-sheet, revenue or cash figure is attributed.
●What changed:TruGolf Holdings, Inc. (Nasdaq: TRUG) filed its 10-Q for the quarter ended June 30, 2026. Revenue was $5,792,180 for the quarter against $4,310,864 a year earlier and $10,812,442 for the six months against $9,700,094, while the net loss narrowed to $447,808 from $3,321,470 for the quarter and to $1,895,102 from $5,991,792 for the six months, largely because interest expense fell to $263,702 from $1,516,874 in the quarter. Why it matters: The loss narrowed on lower interest cost rather than on gross margin, and cash fell $4.1 million in six months against $14.5 million of current liabilities — including $5.2 million of deferred revenue and $2.1 million of related-party notes. This is the same registrant that signed the Polymath amalgamation agreement on August 17, 2026.
●What changed:Q2 2026 10-Q of Senti Biosciences Holdings, Inc. (Nasdaq: SNTI). Cash and equivalents fell to $6,463 thousand from $16,420 thousand at December 31, 2025, with restricted cash of $1,426 thousand; total assets were $33,105 thousand versus $51,223 thousand and total liabilities $36,506 thousand versus $45,634 thousand, so stockholders' equity turned to a $(3,401) thousand deficit from $5,589 thousand. Why it matters: Equity crossed into deficit during the half-year and cash covers roughly half a quarter at the current burn as reported. Much of the improvement in the six-month loss is a one-time lease-modification gain, and GeneFab related-party items run through revenue, costs, receivables and sublease income.
●What changed:The 10-Q filed under Commission file number 001-39138 is that of Jasper Therapeutics, Inc. (Nasdaq: JSPR, with ten warrants exercisable for one share at $115.00) for the quarter ended June 30, 2026. Cash and equivalents were $7,314 thousand against $28,692 thousand at December 31, 2025 and total assets $11,802 thousand against $35,779 thousand. Total liabilities fell to $10,389 thousand from $31,628 thousand, driven by the warrant liability dropping to $2,544 thousand from $16,164 thousand, and stockholders' equity was $1,413 thousand. Why it matters: Cash fell by $21.4 million over six months while the reported loss shrank by $44 million — the loss improvement is mostly a warrant revaluation and a four-fifths cut in R&D spend, not cash generation. Equity of $1.4 million sits against $7.8 million of current liabilities.
●What changed:Q2 2026 10-Q of CN Healthy Food Tech Group Corp. (UCFI), filed under Iron Horse Acquisitions Corp's CIK, for the quarterly period ended June 30, 2026 with 52,234,983 shares outstanding as of August 14, 2026. The forward-looking section states that on July 16, 2026 the company received a Determination Letter from Nasdaq's Listing Qualifications Staff to delist its common stock and warrants, that the company requested an appeal which stays any suspension pending the Panel's decision, and that the trading halt in effect since October 1, 2025 remains in place notwithstanding the appeal. Why it matters: Trading has been halted since October 1, 2025 and a delisting determination is under appeal, so the listing outcome is unresolved as of this filing. The note defaults are stated as continuing. This summary covers the cover page and cautionary note; the financial statements are not covered here.
●What changed:The 10-Q filed under Commission file number 001-38105 is that of Forum Markets, Incorporated, formerly ETHZilla Corporation (Nasdaq: FRMM), for the three months ended June 30, 2026, with 13,198,948 shares outstanding as of August 14, 2026. Why it matters: The former SPAC's successor now describes itself as an Ether-holding and tokenization business whose reported results move with the ETH price, and it discloses that certain of its cash and ETH are pledged as security. No balance-sheet or holdings figure appears in the portion read here.
●What changed:The 10-Q filed under Commission file number 001-41002 is that of Tevogen Inc. (Nasdaq: TVGN, warrants exercisable at $575 per share) for the quarter ended June 30, 2026, with 6,511,540 shares outstanding as of August 10, 2026. Cash was $1,082,155 against $552,372 at December 31, 2025 and total assets $4,727,741, against total liabilities of $13,616,501 that include $2,829,264 of accounts payable, $1,651,000 of notes payable and a loan agreement balance grown to $6,400,000 from $4,400,000. The stockholders' deficit was $8,888,760 and the accumulated deficit $150,868,744. Why it matters: The company spends about $5.7 million a quarter against $1.1 million of cash, funding the gap with a loan that grew $2.0 million in six months, pre-funded warrants and at-the-market sales. The two preferred series carry $9.1 million of stated liquidation value ranking ahead of common on a balance sheet whose total assets are $4.7 million.
●What changed:Quarterly Report on Form 10-Q for the period ended June 30, 2026. The trust account decreased from $239,906,656 to $146,834,251 due to the redemption of 9,440,230 ordinary shares at approximately $10.52 per share in connection with the extension vote on April 27, 2026. The Company's working capital deficit widened from $363,981 to $2,875,440. The Sponsor defaulted on the share subscription receivable, resulting in 45,092 ordinary shares subject to cancellation. An interim convertible note of up to $500,000 was issued, with $350,000 outstanding, and extension advance notes of $600,000 (increased to $900,000 after July 27) were entered into with BV Advisory Partners. On April 29, 2026, the Company entered into a definitive merger agreement with PAGC; a third amendment was approved on July 14, 2026. The administrative services agreement was cancelled in March 2026. CEO and CFO compensation agreements were updated with share awards contingent on deal closing. Why it matters: This filing reveals a significant trust account reduction due to redemptions, a going concern warning, and the Sponsor's default on funding obligations, which could threaten the ability to complete the business combination with PAGC. The extension to April 2027 provides time but depends on continued investor deposits. The merger agreement with PAGC is progressing, but the Sponsor's inability to provide working capital raises uncertainty about deal closure. The Company's cash position and working capital deficit highlight liquidity risks.
●What changed:Quarterly report on Form 10-Q (unaudited condensed consolidated financial statements) for the period ended June 30, 2026. First quarterly report since signing the Abra Business Combination Agreement (March 16, 2026). Net income of $3.61M for H1 2026 vs. $1.99M in H1 2025. Trust value per share rose to $10.51 from $10.33 at year-end 2025. Operating cash deficit and working capital deficit of $1.17M; company issued $1.5M convertible promissory notes (WCL Notes) to co-CEOs and received $200K advance from Sponsor. General and administrative expenses increased to $1.89M from $0.22M. Going concern uncertainty reiterated. Sponsor support agreement and lock-up agreements filed; Abra deal termination date set at October 15, 2026. Net cash proceeds condition: $40M minimum. Why it matters: Provides updated financial health, trust account value ($10.51/share), and deal-specific terms critical for assessing redemption risk and likelihood of closing. Highlights liquidity strain and dependency on Abra deal completion. Investors can evaluate progress toward the October 15, 2026 termination deadline and the $40M net cash condition.
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026. Status: DEAL_ANNOUNCED. As of the filing date, the SPAC has a letter of intent (LOI) with Bluechip & Co. Holdings (signed May 8, 2026) for a potential business combination, with a 90-day exclusive negotiation period. The prior merger agreement with Great Future Technology Inc. (GFT) was mutually terminated on May 3, 2026, with no termination fee. Shareholders approved a further extension of the deadline to June 20, 2027, with the current monthly extension deposit reduced to $51,842. Redemption: holders of 1,507,257 shares exercised redemption rights in June 2026 at approximately $11.068 per share, for an aggregate of about $16,682,320, paid in July 2026. Trust value: $34,017,341 as of June 30, 2026 (redemption value per share $11.15). Going concern disclosure: the company reported cash of $1,300 and a working capital deficit of $2,061,322 (excluding $34,017,341 payables due to redeeming shareholders), raising substantial doubt about its ability to continue as a going concern. Why it matters:
●What changed:Form 10-Q quarterly report for byNordic Acquisition Corp (BYNO) for the quarter ended June 30, 2026, filed August 14, 2026. The filing reports that on August 6, 2026, shareholders approved extending the business combination deadline from August 12, 2026 to August 12, 2027, with monthly deposits of $8,850. The company funded a one-month extension to September 12, 2026 with an $8,850 deposit on August 10, 2026. In connection with the August 2026 amendments, 215,488 public shares were redeemed at ~$13.17 per share for $2,837,690, reducing redeemable shares to 436,743. Trust account value as of June 30, 2026 was $5,718,028 ($13.10 per redeemable share). Net loss for the six months was $827,437, with operating costs of $904,945. The company had cash of $150,345 and a working capital deficit of $9,165,290. Related party promissory notes increased to $7,935,000. The company continues to have no business combination agreement and reiterates substantial doubt about its ability to continue as a going concern. Securities were delisted from Nasdaq on February 18, 2025 and now trade OTC Pink.
●What changed:A Quarterly Report on Form 10-Q for GalaxyEdge Acquisition Corporation (a blank-check SPAC) for the six months ended June 30, 2026. This is the SPAC's first 10-Q. It reports the consummation of the IPO and over-allotment on March 5 and 12, 2026, generating $115 million deposited in trust. On May 1, 2026, the Company entered into an Agreement and Plan of Merger with Rongcheng Group Limited. The filing provides full financials for the first post-IPO period. The trust value per share at June 30, 2026 was $10.02 ($116,305,284 / 11,500,000 shares). The sponsor (Equinox Capital Solutions Limited) holds 4,025,000 founder shares. The Company reported a net income of $741,921 for the six months, primarily from interest income. Management disclosed a material weakness in internal controls over financial reporting related to disclosure of commitments and contingencies. The Company also disclosed substantial doubt about its ability to continue as a going concern due to insufficient financial resources to sustain operations for the next year. Why it matters:
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026. Trust value per share remains $12.519 with 62,590 redeemable shares. Deadline to complete a business combination is November 15, 2026. Working capital deficit is $952,568, cash $147,356; substantial doubt about going concern. Sponsor contributed $5,007 through June 30 to extend to July 15, plus $1,252 post-June 30 to extend to September 15. Previous business combination agreement with Phytanix Bio terminated April 2025; no new deal announced. Issued senior notes (C/M Capital Master Fund LP, amended to mature November 15, 2026) and 2026 notes to fund operations. Why it matters: Investors face an approaching November 15, 2026 deadline with no definitive business combination. Limited cash and negative working capital heighten liquidation risk. Trust value of $12.519 per share provides a floor above $10.20, but the SPAC must either find a target or redeem. Sponsor's continued extension contributions show support, but the absence of a new deal increases uncertainty.
●What changed:Quarterly Report (Form 10-Q) for the period ended June 30, 2026. Trust account value increased from $269.8M to $274.1M due to interest; per-share redemption value rose from $10.42 to $10.60. Company withdrew $500,000 from trust for working capital in March 2026. Working capital deficit widened to $970,471. Management reaffirms substantial doubt about going concern, noting mandatory liquidation date of October 25, 2026 is less than 12 months away. No business combination announced or pending. Sponsor-related promissory note remains at $542,975. Why it matters: This filing confirms the SPAC is approaching its 24-month deadline without a deal, and management explicitly warns of potential liquidation. The trust value and redemption price are updated, critical for investors evaluating redemption economics and timing. The going concern disclosure signals high risk of dissolution if no transaction closes by October 25, 2026.
●What changed:Quarterly report (Form 10-Q) for Blue Water Acquisition Corp. IV for the period ended June 30, 2026, containing unaudited financial statements and management's discussion. IPO closed on March 23, 2026 with 13,000,000 units sold at $10.00 each, trust account funded with $130 million (plus interest), now $131,244,853; 425,000 private placement units sold; 458,333 founder shares forfeited after over-allotment expiration; no business combination target identified; operating expenses of $619,606 for H1 2026; net income of $731,247 from trust interest; going concern warning raised. Why it matters: First post-IPO quarterly report confirming trust value ($131.2M, above $10 per share), no deal progress (no target selected), ongoing cash burn, and a substantial doubt about going concern due to lack of operating funds. Provides baseline for future tracking of redemption mechanics, sponsor conduct (due from related party $509,685), and extension risk.
●What changed:Quarterly Report (10-Q) for New America Acquisition I Corp., a blank-check company still searching for a business combination, for the period ended June 30, 2026. Trust account grew to $351.9M (from $345.9M) due to interest income; cash outside trust fell to $0.66M (from $0.94M). Net income of $3.9M for H1 2026. Redemption value per share rose to $10.15 (from $10.02). Going concern disclosure added: management has substantial doubt about continuing past June 5, 2027, absent a business combination or extension. No extension plan approved. Material weakness in internal controls over financial reporting reported. Why it matters: The SPAC is on a clock: it must complete a business combination by June 5, 2027 (or earlier if extended). The going concern warning signals risk of liquidation if no deal is reached. Trust value per share is increasing, but operating cash is being consumed. The redemption price per share is now $10.15, so investors should monitor the deadline and any potential extension votes. The material weakness indicates control issues.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by Ribbon Acquisition Corporation, a blank-check SPAC. Trust account cash fell from $51,948,314 to $38,410,540 due to $14,937,326 in redemptions and $750,000 in extension deposits; a $902,938 promissory note was issued to sponsor affiliate; the company reported a net income of $233,154 for the six months compared to $507,153 in the prior year; working capital deficit increased to $1,797,571; an extension meeting was held, extending the deadline to January 16, 2027, with $875,000 in monthly extension deposits made through July 15, 2026, and a subsequent $125,000 deposit on July 14, 2026, extending the deadline to August 15, 2026. No material changes to the business combination agreement with DRC Medicine were noted. Why it matters: The trust erosion from redemptions and rising liabilities highlight the time pressure to close the DRC Medicine deal. The cash burn and negative working capital underscore going concern risk if the extension is exhausted or the deal fails. The $600,000 promissory note and monthly extension payments reflect sponsor support, but the trust balance is shrinking. The extension meeting and continued payments show the sponsor is buying time, but the clock is ticking toward January 2027.
●What changed:10-Q quarterly report for Keen Vision Acquisition Corp. (KVAC) for the period ended June 30, 2026. Trust value per share remained high at $12.28, but trust account dropped from $57M to $13.4M due to redemptions of 3,781,900 shares in January 2026 and 913,666 shares in July 2026. The company was delisted from Nasdaq on August 3, 2026 and now trades OTC. The prior merger agreement with Medera was terminated and replaced by a binding LOI with Novoheart Group Limited (Medera subsidiary). The deadline is extended to October 27, 2026 (18th extension). The company has a working capital deficit of $4.6M and a going concern warning. Why it matters: Investors need to track the rapid trust depletion, delisting, and the uncertain status of the new deal with Novoheart. The company's ability to complete a business combination by October 27, 2026 is in doubt, and the delisting reduces liquidity. The sponsor continues to fund extensions, but the trust may not cover redemptions at current levels.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, containing unaudited interim financial statements and management's discussion and analysis. This is the first quarterly report since the IPO closed on December 22, 2025. The trust account grew from $150,109,781 (Dec 31, 2025) to $152,545,289 (Jun 30, 2026). The redemption value per Class A share increased from $10.01 to $10.17. Cash at bank decreased from $683,798 to $386,697. Net income was $1,171,557 for the quarter and $2,281,073 for the six-month period. General and administrative expenses were $54,046 for the quarter and $157,940 for the six-month period. Interest income on the trust account was $1,225,603 for the quarter and $2,439,013 for the six-month period. The company has completed its IPO and private placement, identified no business combination target as of the filing date, and acknowledges that it may seek to extend the 24-month combination period (deadline: December 22, 2027). The company is still searching for a target. Why it matters:
●What changed:Quarterly report (Form 10-Q) for IB Acquisition Corp. for the quarterly period ended June 30, 2026. This 10-Q updates the financial position and results through June 30, 2026. The trust account declined to $8,261,479 from $15,890,194 at September 30, 2025, due to redemptions of $7,886,591 in March 2026 and tax withdrawals. The Company incurred a net loss of $567,166 for the three months ended June 30, 2026, versus net income of $818,610 in the prior-year quarter. The Company holds $30,161 in cash outside trust and has a working capital deficit of $2,190,878. Management discloses substantial doubt about the Company's ability to continue as a going concern. The Company entered into a Business Combination Agreement with GNQ Insilico Inc. on March 16, 2026. Subsequent to quarter-end, on August 5, 2026, the Company issued a $250,000 promissory note to the Sponsor. Why it matters: The Company's trust value has been severely reduced by redemptions, leaving only $8.2 million to fund a business combination. The Company has minimal cash outside trust ($30,161) and a significant working capital deficit, leading to a going concern warning. The deadline to complete a business combination is September 28, 2026. The BCA with GNQ Insilico is the sole path to avoid liquidation. The filing discloses that excise taxes on redemptions remain unpaid, with penalties and interest accruing. The Company's ability to consummate the deal within the remaining weeks is highly uncertain.
●What changed:Quarterly report on Form 10-Q filed by Mountain Crest Acquisition 6 Corp. for the quarter ended June 30, 2026 — its first quarterly report since inception on January 6, 2026 and its May 1, 2026 IPO — as a shell/blank-check company still searching for an initial business combination. The 10-Q states the Company has not selected any potential Business Combination target and has not, nor has anyone on its behalf, initiated any substantive discussions with any target. It closed its IPO on May 1, 2026, selling 6,000,000 units at $10.00 per unit for $60,000,000 gross proceeds, plus 90,000 private placement units, and held $60,337,576 in the Trust Account as of June 30, 2026, with redemption value approximately $10.06 per public share, subject to increase of up to an additional $0.20 per unit if the Sponsor elects to extend. The full over-allotment option expired unexercised on June 15, 2026, and 385,714 founder shares were forfeited. Cash outside the Trust Account was only $14,184, working capital deficit was $412,802, the Sponsor promissory note balance was $423,670, and management disclosed substantial doubt about the Company's ability to continue as a going concern. The Company has 12 months from the IPO closing to complete a Business Combination, with two optional 3-month extensions requiring $600,000 deposits each, for up to 18 months total without shareholder approval. Net income was $348,644 for the quarter and $305,174 since inception, driven mainly by $337,576 of Trust Account interest and a $47,300 change in fair value of the over-allotment liability. Rights convert to one-fourth of an ordinary share at Business Combination and expire worthless if the Company liquidates.
What changed:Quarterly report on Form 10-Q for Bleichroeder Acquisition Corp. III, a blank-check company that had just completed its IPO and had no operations during the period. This is the company's first 10-Q covering the period from inception (April 1, 2026) through June 30, 2026. The filing reports a net loss of $2,078,048, driven primarily by $2,015,750 in share-based compensation expense, and a shareholders' deficit of $37,298. Subsequent to the quarter, on July 8, 2026, the company closed its IPO of 34,500,000 units at $10.00 each, generating $345,000,000 in gross proceeds, which along with $8,500,000 from a private placement of warrants, was deposited into a trust account ($10.00 per public share). The trust is initially invested in U.S. government obligations. The company has 24 months (until July 2028) to complete a business combination. The filing reports no cash on hand as of June 30, 2026, but management asserts sufficient liquidity post-IPO. There is no redemption deadline, extension vote, or pending deal disclosed; the company is still searching. Why it matters: This filing establishes the baseline financial position and trust value for a newly-public SPAC. The trust holds exactly $10.00 per public share, the full $345 million from the IPO, giving investors a clear redemption floor. The significant share-based compensation expense in the pre-IPO period (related to founder shares granted to officers) is now in the rearview mirror. The disclosure of a $527,974 working capital deficit at June 30, 2026, which was alleviated by the IPO, highlights the sponsor's funding role. The company's stated focus is North American and European businesses in disruptive growth sectors. The absence of any business combination target or extension request means investors face a 24-month clock starting July 2026.
●What changed:Quarterly report (Form 10-Q) for Peace Acquisition Corp (PECE) for the period ended June 30, 2026. This is a standard SEC compliance document filed by the blank-check company (SPAC) as part of its continuing reporting obligations. This is the first 10-Q filed after the company's IPO, which closed on May 26, 2026. It discloses the consummation of the IPO of 6,000,000 units at $10.00 per unit, generating $60,000,000 in gross proceeds, and the sale of 262,500 Private Placement Units to the Sponsors and underwriter (EBC) for $2,625,000. It reports that the underwriter's over-allotment option was terminated on June 10, 2026, resulting in the forfeiture of 300,000 founder shares. As of June 30, 2026, the trust account holds $60,504,613, and the Company has working capital of $471,794. Why it matters: The filing establishes the baseline financial position and corporate timeline for this newly-IPO'd SPAC. It confirms the trust value of $60,504,613 ($10.08 per public share), the 15-month deadline from the IPO (August 26, 2027), and that the company has not yet identified a target. Management disclosed a going concern opinion, indicating substantial doubt about the company's ability to continue if a Business Combination is not completed within the required period. It also discloses the company is still subject to a material weakness in internal controls over financial reporting, which is routine for early-stage SPACs but noteworthy for investors.
●What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by Quantum Leap Acquisition Corp, a blank-check SPAC in its searching phase. The filing confirms the completion of the IPO and full exercise of the over-allotment option, resulting in a trust account balance of $233,314,639 held as of June 30, 2026, with a redemption value of $10.14 per share. No business combination has been announced; the company remains in the searching stage. The company reported net income of $669,181 for Q2 2026 and $621,169 for the six months, primarily from interest income on trust investments. Management disclosed substantial doubt about the company's ability to continue as a going concern due to expected significant expenses. The deadline for completing a business combination is November 4, 2027 (18 months from IPO close, extendable to 36 months). Why it matters: This filing provides the first post-IPO financial snapshot, confirming the trust per-share value ($10.14), the number of shares subject to redemption (23,000,000 Class A shares), and the cash runway outside trust ($1.26M). The going concern disclosure signals that the SPAC may need additional funding or a working capital loan from the sponsor to sustain operations while searching for a target. The risk factor section highlights tariff uncertainty that could affect target selection. No target has been identified, so redemption risk remains low for now, but investors should monitor for any extension votes or target announcements.
●What changed:Quarterly report on Form 10-Q for the period ended June 30, 2026, filed by Spark I Acquisition Corp (SPKL), a blank-check company that has announced a merger with ZincFive, Inc. The 10-Q provides the first financial update since the June 11, 2026 merger agreement with ZincFive. Key changes: trust per share rose to $11.54 (from $10.05 at IPO), with $25.8 million in trust from 2.24 million redeemable shares after the July 2025 redemption of 7.76 million shares for ~$84.8 million. The company reported a net loss of $1.75 million for H1 2026, a working capital deficit of $6.05 million, and a going concern qualification. Sponsor loans increased: convertible note payable $1.9 million, non-convertible note $2.5 million. The merger agreement includes a $106.5 million Series A preferred investment and sponsor forfeiture of 3.5 million shares and 2.79 million warrants. The company also disclosed a Nasdaq notice for non-compliance with the minimum total holders rule (submitted a compliance plan on June 29, 2026). The business combination deadline is September 29, 2026. Why it matters:
What changed:Quarterly report (Form 10-Q) for the period ended June 30, 2026, filed by JAB Acquisition Corp I, a blank-check company that completed its IPO on June 11, 2026. This is the first quarterly report since the IPO. The trust account held $172,816,825 as of June 30, 2026, representing $10.02 per public share (17,250,000 shares). No business combination has been announced. The company has until June 11, 2027 (the Combination Period) to complete a deal, with the option to extend for up to two additional three-month periods by depositing $0.10 per share each time. No extension has been made. The sponsor has agreed to standard lock-up and waiver of redemption rights. Management has identified substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the Combination Period. No changes to redemption mechanics, trust value, or sponsor conduct beyond the initial IPO terms. Why it matters: This filing confirms the SPAC is in its early search phase with no target identified. The trust value per share is $10.02, slightly above the $10.00 IPO price due to interest earned. Investors should note the ticking clock: the company has 12 months from the IPO date (June 11, 2026) to complete a deal. The going concern disclosure signals that failure to find a target could lead to liquidation. No material adverse changes or sponsor red flags.
●What changed:Quarterly report (Form 10-Q) for Plum Acquisition Corp. IV for the period ended June 30, 2026, filed to disclose the financial condition of this SPAC, which has announced a business combination. The SPAC held an extraordinary general meeting on July 10, 2026, where shareholders approved an extension of the business combination deadline from July 16, 2026 to January 16, 2027, with the ability to extend further monthly until July 16, 2027. In connection with that vote, holders of 13,540,384 public shares redeemed at approximately $10.71 per share, for an aggregate redemption of ~$145 million, leaving ~$39.7 million in the trust account. Also on July 9, 2026, the sponsor and independent directors voluntarily converted 5,749,999 Class B shares into Class A shares, leaving one Class B share outstanding after redemptions. The trust value dropped from $184.4M to ~$39.7M as a result. The business combination agreement with CTR was amended on July 6, 2026, reducing the valuation used to calculate merger consideration from $4.5B to $3.15B, reducing earnout shares from 100M to 70M, extending the closing deadline to April 30, 2027, increasing the maximum shares issuable for non-redeeming shareholders from 2M to 3M, and extending the antitrust filing deadline to September 30, 2026. Working capital was negative $1.4M at June 30, 2026, and the company acknowledged substantial doubt about its ability to continue as a going concern.
●What changed:Q2 2026 10-Q of FOXO Technologies Inc., filed under Delwinds Insurance Acquisition Corp's CIK; the cover lists no securities registered under Section 12(b). Cash fell to $58,409 from $207,453 at December 31, 2025 while accounts receivable rose to $4,138,597 from $2,468,346; total current assets were $4,761,853 and total assets $45,889,733, including $27,794,975 of goodwill and $9,755,363 of intangibles. Why it matters: Current liabilities now exceed total current assets by roughly $35.9 million and cash stands at $58,409. The forward-looking section names the ability to continue as a going concern among its subjects.
●What changed:Q2 2026 10-Q of VSee Health, Inc. (VSEE, quoted on OTC), filed under Digital Health Acquisition Corp's CIK. Cash fell to $454,151 from $5,051,445 at December 31, 2025; accounts receivable were $2,231,040 net of a credit-loss allowance that rose to $1,642,234 from $835,007. Total current assets were $3,266,387 versus $8,365,407 and total assets $16,734,408 versus $22,413,019, including goodwill of $4,916,694 and intangibles of $7,680,004. Why it matters: Cash is down about 91% over the half-year while total liabilities fell by roughly $7.8 million, largely through the disappearance of discontinued-operations balances. Both the common stock and the $11.50 warrants are quoted on OTC rather than an exchange.
●What changed:Q2 2026 10-Q of OneMedNet Corporation (Nasdaq: ONMD), filed under Data Knights Acquisition Corp's CIK, for the quarterly period ended June 30, 2026, with 59,286,450 shares of common stock outstanding as of August 11, 2026. The cautionary note identifies among its subjects the company's projected cash burn rate, its ability to continue as a going concern and to raise substantial additional capital, risks of investing in Bitcoin including volatility, its ability to implement a Bitcoin treasury strategy, and its ability to reverse a recent decline in revenue. Why it matters: A Bitcoin treasury strategy appears among the company's own stated forward-looking subjects alongside going-concern language. This summary is drawn from the cover page and the cautionary note; the financial statements are not covered here.
What changed:The document available for this DiamondPeak Holdings Corp. 10-Q is not the quarterly report body. What is present is a block of representations and warranties from an acquisition agreement covering a "Company Group" of investment advisers — ERISA fiduciary status and prohibited transactions under PTCE 84-14, performance under Investment Advisory Contracts, fee calculation methodology, and Section 3.18's tax representations including the group's continuous classification as partnerships or disregarded entities and the treatment of profits interests under Revenue Procedures 93-27 and 2001-43. Why it matters: No balance sheet, trust figure, deadline, share count or results of operations appear in what is present, so nothing about the registrant's quarter can be stated from it. Routed to review so the quarterly report itself is read rather than this exhibit.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
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Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.