SDHI SEC filings, in plain English
Everything Siddhi Acquisition Corp (Cayman Islands) has filed with the SEC that we hold — 40 filings, newest first, 38 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Form 10-Q (quarterly report) for Siddhi Acquisition Corp, a blank-check company still searching for a business combination target. Trust account per-share value rose to $10.55 (from $10.36 at year-end) due to interest income; cash outside trust fell to $168,230 (from $664,894); net income of $2.5M for the quarter vs. loss of $5.6M in the prior-year period; management reiterated substantial doubt about going concern due to mandatory liquidation by January 2, 2027, if no deal is completed. Why it matters: The trust value increase provides a slight upside for redeeming shareholders, but the declining cash balance and going-concern warning underscore the urgency of finding a target. No deal progress reported, and the deadline is approximately six months away. Redemption calculations and sponsor conduct remain unchanged.
What changed vs 2026-05-08trust $288.4M → $291.1M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $288.4M$291.1M
- Combination deadline
- 2027-01-02 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 27.6M · unchanged
SpacBrain reads this as $2,680,967 was added to the trust between the two filings.
The clause …“assets 266,980 743,293 Long-term prepaid insurance ― 18,750 Investments held in Trust Account 291,120,263 285,981,442 TOTAL ASSETS $ 291,387,243 $ 286,743,485 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities Accrued”…
The clause …“for pursuing its goals. In addition, if the Company is unable to complete a Business Combination by January 2, 2027, unless extended for further three months, then the Company will cease all operations except for the purpose of”…
The clause “EMENTS JUNE 30, 2026 (Unaudited) In connection with the Company’s assessment of going concern considerations in accordance with ASC 205-40, “Going Concern,” management has determined that the potential liquidity shortfall and the”…
The clause “200,000,000 shares authorized; 338,000 shares issued and outstanding, excluding 27,600,000 shares subject to possible redemption as of June 30, 2026 and December 31, 2025 34 34 Class B ordinary shares, $ 0.0001 par value; 20,000,000”…
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: Quarterly report (Form 10-Q) for a blank-check company (SPAC) still searching for a business combination. Trust account value increased to $10.45 per share from $10.36 at year-end 2025 due to $2.46 million interest income; cash outside trust decreased to $457k; no business combination target selected or announced; going concern qualification reiterated with mandatory liquidation deadline of January 2, 2027. Why it matters: The filing provides the updated trust redemption value ($10.45) and confirms the SPAC remains pre-deal with a fixed 21-month deadline (Jan 2, 2027). No extension has been exercised; the company has substantial doubt about its ability to continue as a going concern. For investors monitoring redemption timelines and sponsor conduct, this filing offers no new catalyst but underscores the approaching deadline and the risk of liquidation if no deal is reached.
What changed vs 2025-10-31trust $283.2M → $288.4M +2%going concern APPEAREDtrust account, going-concern doubt, combination deadline +12 moved · 2 with no prior record of ours
- Trust account
- $283.2M$288.4M
- Going-concern doubt
- not statedstated
- Combination deadline
- not previously extracted2027-01-02
- Redeemable shares
- 27.6M · unchanged
SpacBrain reads this as $5,195,141 was added to the trust between the two filings.
The clause …“assets 595,733 743,293 Long-term prepaid insurance ― 18,750 Investments held in Trust Account 288,439,296 285,981,442 TOTAL ASSETS $ 289,035,029 $ 286,743,485 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities Accrued”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause “MENTS MARCH 31, 2026 (Unaudited) In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Codification (“ASC”) 205-40 “Going Concern,” Management has determined that the potential”…
The clause …“for pursuing its goals. In addition, if the Company is unable to complete a Business Combination by January 2, 2027, unless extended for further three months, then the Company will cease all operations except for the purpose of”…
The clause “200,000,000 shares authorized; 338,000 shares issued and outstanding, excluding 27,600,000 shares subject to possible redemption as of March 31, 2026 and December 31, 2025 34 34 Class B ordinary shares, $ 0.0001 par value; 20,000,000”…
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: Form 10-K annual report for the fiscal year ended December 31, 2025, filed by Siddhi Acquisition Corp, a blank-check SPAC still searching for a business combination target. First annual report since the IPO closed on April 2, 2025. The trust account now holds $285,981,442 ($10.36 per public share as of December 31, 2025). The company recorded an $8,280,000 advisory fee payable (contingent on closing a deal) and an $8,280,000 deferred underwriting fee. Net loss for 2025 was $223,387 after $8,601,442 of interest income offset operating costs. Cash outside trust is $664,894; working capital is $619,620. The audit report includes a going concern emphasis regarding the mandatory liquidation deadline of January 2, 2027. No target has been selected. Why it matters: Investors can assess the current trust redemption value ($10.36 per share), the remaining deadline (approximately 9.5 months to January 2, 2027, with a possible 6-month extension if a definitive agreement is signed by April 2, 2026), and the financial condition. The going concern note and low cash reserves highlight the risk of liquidation if a deal is not completed in time. The large advisory fee liability reduces net assets available for deals.
What changed: Schedule 13G/A — a routine SEC compliance exhibit amending beneficial ownership disclosures. The excerpt names only the reporting vehicle, Healthcare of Ontario Pension Plan Trust Fund, alongside a standard SEC submission code. It omits all quantitative disclosures such as aggregate share counts, percentage thresholds, acquisition dates, price paid, or sole/shared voting/power authority breakdowns normally required in a 13G/A. Consequently, it bears no direct bearing on SDHI’s redemption calendar, trust value maintenance, extension voting timelines, or sponsor governance. Why it matters: Without the accompanying ownership table or signature page detailing percentages over five percent, this filing offers zero forward-looking intelligence on deal progression or liquidation risk. Institutional pension funds frequently amend these reports for passive rebalancing unrelated to merger targets. Tracking subsequent amendments will be necessary to determine whether this holder’s stake signals quiet accumulation ahead of a business combination announcement or reflects routine portfolio management.
What changed: This document IS an amended Schedule 13G beneficial ownership report filed by Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC. Mechanics assessment: the filing excerpt discloses no revised share quantities, ownership percentages, acquisition dates, or statutory amendment citations. As reported by the BMO entities, this submission functions as a routine portfolio-manager update to a prior regulatory filing. In the context of a SPAC tracking a 2027-01-02 search deadline and a stated trust value of $10.55 per share, such 13G/A amendments typically reflect standard equity-exposure rebalancing rather than shifts in redemption pressure, trust account distribution schedules, extension voting dynamics, deal advancement, or sponsor conduct. Why it matters: Substantive review: the text contains zero claims regarding customers, revenue, market size, corporate strategy, technology, partnerships, litigation, or personnel. Nevertheless, monitoring institutional block holders remains operationally relevant because concentrated dealer positioning can influence upcoming shareholder votes on business combinations or deadline extensions as the January 2027 window approaches. The filing does not independently alter the $10.55 trust metric or reset the search timeline, but provides baseline exposure data for investors evaluating pre-deadline capital positioning and potential voting alignment.
What changed: A Schedule 13G/A amended beneficial ownership report, functioning as a routine SEC compliance exhibit filed to update public records of institutional equity stakes. This filing identifies seven affiliated entities—Sculptor Capital LP, Sculptor Capital II LP, Sculptor Capital Holding Corp, Sculptor Capital Holding II LLC, Sculptor Capital Management, Inc., Sculptor Master Fund, Ltd., and Sculptor Special Funding, LP—as co-reporters. Regarding mechanics: the excerpt discloses no updates to redemption calendars, trust account valuation or maintenance, extension voting procedures, merger negotiation progress, or sponsor conduct. Regarding substance: the text contains zero claims about customer relationships, revenue generation, addressable market size, corporate strategy, proprietary technology, partnership frameworks, active litigation, or key personnel appointments. All disclosures in this snippet originate solely from the listed Sculptor Capital vehicles themselves. Why it matters: For investors tracking whether to redeem, support an extension, or wait for a de-SPAC announcement, this excerpt delivers no operational, financial, or governance catalysts. Routine 13G/A amendments typically reflect quarterly portfolio reconciliation or internal fund structuring rather than transaction-driven activity. Because the provided text omits the mandatory ownership tables, voting/disposition allocations, investment purpose declarations, and any quantified change-in-stake metrics, it does not alter redemption math, affect the trust floor, or shift the 2027-01-02 search deadline. Shareholders should await subsequent filings containing actual share counts, percentage thresholds, or explicit statements of intent regarding a proposed business combination.
What changed: Quarterly Report (Form 10-Q) for the period ended September 30, 2025, filed by Siddhi Acquisition Corp, a blank-check company in searching stage. Trust account value per share increased to $10.26 from IPO price of $10.00 due to interest income; cash outside trust is $759,129; no business combination target identified or announced; no extension of the 21-month deadline (through January 2027) has been pursued; advisory fee and deferred underwriting fee of $8,280,000 each remain payable only upon consummation of a deal. Why it matters: Provides updated trust value per share for redemption calculations, confirms the company is still searching with no deal progress, and highlights the cash burn rate and outstanding liabilities that will affect future working capital.
What changed vs 2025-08-08trust $280.2M → $283.2M +1%trust account, redeemable shares1 moved · 1 with no prior record of ours
- Trust account
- $280.2M$283.2M
- Redeemable shares
- 27.6M · unchanged
SpacBrain reads this as $2,996,664 was added to the trust between the two filings.
The clause …“current assets 853,655 578 Long-term prepaid insurance 37,500 — Investments held in Trust Account 283,244,155 — Deferred offering costs — 342,805 TOTAL ASSETS $ 284,135,310 $ 343,383 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current”…
The clause “0,000 shares authorized; 338,000 and 0 shares issued and outstanding, excluding 27,600,000 and 0 shares subject to possible redemption as of September 30, 2025 and December 31, 2024, respectively 34 — Class B ordinary shares, $ 0.0001 par”…
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: This document is a Joint Filing Statement (Exhibit I) attached to a Schedule 13G beneficial ownership report, formally acknowledging that three affiliated First Trust entities—First Trust Capital Management L.P., First Trust Capital Solutions L.P., and FTCS Sub GP LLC—will file all future amendments collectively under SEC Rule 13d-1(k). As a procedural appendix, it reports zero changes to redemption deadlines, trust value per share, extension options, target acquisition status, or sponsor conduct. The signatory, Chief Operating Officer Chad Eisenberg, acknowledges shared administrative responsibility for completeness and accuracy across the three filing entities but cites no adjustments to SDHI’s capital structure, public listing mechanics, or cash preservation parameters. Why it matters: For investors tracking redemption windows, trust NAV, extension votes, or sponsor alignment, this exhibit provides no operational intelligence. It confirms regulatory reporting coordination among First Trust affiliates but deliberately excludes aggregate share counts, percentage ownership, holding periods, or investor voting intent. Any substantive disclosure regarding holder concentration, liquidation threat, or strategic influence would reside exclusively in the parent Schedule 13G body, which this appendix references but does not replicate.
What changed: Routine compliance exhibit: Schedule 13G/A amendment reporting amended beneficial ownership disclosures. The filing identifies Sculptor Capital LP, Sculptor Capital II LP, Sculptor Capital Holding Corp, Sculptor Capital Holding II LLC, Sculptor Capital Management, Inc., Sculptor Master Fund, Ltd., and Sculptor Special Funding, LP as the reporting group. The excerpt contains no share quantities, price points, or explicit change metrics, indicating a standard regulatory update rather than a disclosure of a new block acquisition or disposition. Why it matters: This document does not reference redemption calendar mechanics, trust account value calculations, extension procedures, business combination timelines, or sponsor behavior. It makes no claims regarding prospective targets, customer relationships, revenue projections, market capitalizations, technological capabilities, commercial partnerships, pending litigation, or leadership appointments. As a baseline ownership filing, it carries no immediate signaling weight for public shareholders awaiting a de-SPAC transaction.
What changed: A routine Schedule 13G beneficial ownership compliance exhibit filed by Aristeia Capital, L.L.C. Aristeia Capital, L.L.C. submitted this filing to disclose its aggregate beneficial ownership position in SDHI common stock. The provided excerpt lists no share quantities, acquisition dates, cost basis, or ownership percentages, and therefore reflects no observable shift in voting control, trust reserve mechanics, redemption price floors, extension vote thresholds, or sponsor governance provisions. Why it matters: Aristeia Capital, L.L.C. did not attach any operating disclosures to this submission, so the document contains zero claims regarding target customers, contracted revenue, total addressable market sizing, post-merger corporate strategy, proprietary technology, commercial partnerships, pending or threatened litigation, or executive succession plans. Without quantified equity movements or contractual side letters, the filing provides no immediate leverage for evaluating the trust distribution mechanics, shareholder redemption calculus, or deadline management relative to SPAC operations.
What changed: A Joint Filing Statement pursuant to Rule 13d-1(k)(1), attached as an exhibit to an amended Schedule 13G beneficial ownership report. According to the joint filing statement, no amendments to beneficial ownership percentages, redemption deadlines, trust account values, extension timelines, business combination progress, or sponsor conduct are reported. The document functions solely as an administrative consent allowing Tenor Capital Management Company, L.P., Tenor Opportunity Master Fund, Ltd., and Robin Shah to jointly submit the underlying Schedule 13G/A under the Securities Exchange Act of 1934. Why it matters: Based on the filing text, the three named parties have agreed to consolidate their 13G reporting into a single submission, indicating coordinated ownership or common managerial control. For investors tracking blockholder concentration, sponsor conduct, and aggregate redemption pressure, this aggregation affects how voting power and potential shareholder behavior should be measured against SDHI’s 2027-01-02 search deadline and $10.55 per-share trust balance. Because the principal Schedule 13G/A body containing ownership percentages, amendment reasons, or investment purpose statements is not included, investors cannot yet determine whether this filing reflects a new position, a routine periodic update, or a shift in intent.
What changed: This filing is a routine compliance exhibit—a Schedule 13G joint filing agreement regarding beneficial ownership of Siddhi Acquisition Corp. shares, dated June 30, 2025. No elements bearing on redemption deadlines, trust mechanics, extensions, or deal progress altered. The filing merely confirms that Magnetar-affiliated holders (Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman) updated their SEC disclosure to reflect their position as of June 30, 2025, with no amendments to voting power, sole/shared voting investment power, or disposal agreements noted. Why it matters: Beyond standard execution blocks attributing signing authority to Hayley Stein as Attorney-in-fact for David J. Snyderman, Manager of Supernova Management LLC, the document contains zero claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel movements. For investors tracking the stated SEARCHING status and January 2, 2027 deadline, this confirms continued passive institutional alignment without triggering redemption windows, signaling sponsor displacement, or indicating imminent de-spacings. The filing contains no monetary figures or percentage thresholds requiring calculation.
What changed: Quarterly Report (Form 10-Q) for the quarterly period ended June 30, 2025, filed by Siddhi Acquisition Corp, a blank-check company still searching for a business combination target. This is the first 10-Q since the IPO closed on April 2, 2025. Key items: (a) Trust account held $280,247,491 as of June 30, 2025, or approximately $10.15 per public share, up from the IPO deposit of $10.05 per unit due to $2,867,491 interest earned. (b) No business combination target has been identified; no substantive discussions with any target have occurred. (c) Deadline remains 21 months from IPO closing (January 2, 2027), or 24 months if a definitive agreement is signed within 21 months. (d) Sponsor promissory note of up to $300,000 has been fully repaid; no working capital loans outstanding. (e) Company incurred $8,280,000 in advisory fees (3% of gross proceeds) and $8,280,000 in deferred underwriting fees, both recorded as liabilities. (f) Net loss of $5,649,702 for the six months ended June 30, 2025, primarily driven by the advisory fee accrual. Why it matters: Provides the first post-IPO financial snapshot: trust value per share ($10.15), deadline schedule, and confirmation that the SPAC has not yet initiated any substantive deal discussions. The large advisory fee accrual ($8.28M) and deferred underwriting ($8.28M) will significantly impact the trust if a deal closes. No sponsor red flags; standard early-stage conduct.
trust account, redeemable shares, sponsor loans outstandingnothing moved · 3 with no prior record of ours
- Trust account
- not previously extracted$280.2M
- Redeemable shares
- not previously extracted27.6M
- Sponsor loans outstanding
- $205Knot matched in this filing
The clause …“current assets 1,005,647 578 Long Term prepaid insurance 56,250 — Investments held in Trust Account 280,247,491 — Deferred offering costs — 342,805 TOTAL ASSETS $ 281,309,388 $ 343,383 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current”…
The clause “200,000,000 shares authorized; 338,000 and no issued and outstanding, excluding 27,600,000 and 0 shares subject to possible redemption as of June 30, 2025 and December 31, 2024, respectively 34 — Class B ordinary shares, $ 0.0001 par”…
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: Schedule 13G beneficial ownership report. Per the filing excerpt, Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC. are identified as reporting entities. The document discloses zero changes to the redemption deadline, zero provisions altering the trust value, no extension amendments, no update on business combination progress, and no remarks on sponsor conduct. No claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel are made in this excerpt. The only figures present are the SEC accession number 0001085146-25-004403 and the filing date 2025-07-31. Why it matters: Institutional Schedule 13G filings primarily serve as regulatory transparency mechanisms for ownership concentrations. For a SPAC in the SEARCHING phase, standard reporting by bank affiliates typically reflects custodial or trading desk positioning rather than strategic intent. Because the excerpt contains no operational data, timeline adjustments, or governance commentary, it does not alter investor calculations around existing redemption parameters or capital balances. Materiality depends on subsequent amendments disclosing aggregate percentage ownership or transaction-related mandates, none of which appear here.
What changed: A routine compliance 8-K current report filed to announce administrative changes to the listing and trading mechanics of the company’s publicly traded securities, accompanied by a press release. Per a press release issued by Siddhi Acquisition Corp on May 30, 2025, the company announced that commencing June 4, 2025, holders of its IPO units may elect to separately trade the underlying Class A ordinary shares and rights. Each unit consists of one Class A ordinary share and one right to receive one-tenth (1/10th) of one Class A ordinary share. The company specified that no fractional rights will be issued upon separation and only whole rights will trade. Holders must direct their brokers to contact Continental Stock Transfer & Trust Company to effect the split. Separated shares will trade under symbols SDHI and SDHIR, while combined units retain symbol SDHIU. The filing notes the Class A ordinary shares carry a par value of $0.0001 per share and references a registration statement on Form S-1 declared effective on March 31, 2025. Why it matters: This filing updates the pre-combination trading infrastructure for public shareholders ahead of the SPAC’s business combination timeline. Separate trading typically occurs before proxy distribution and redemption voting, providing liquidity options for individual security components. The document contains no adjustments to redemption procedures, trust account allocations, extension votes, or target deal progress. According to the company's press release, Siddhi Acquisition Corp plans to concentrate its efforts identifying high-growth businesses positioned for public markets and major secular trends, with Sam Potter named as Chief Executive Officer. Because the filing exclusively addresses ticker symbols, transfer agent instructions, and unit composition, it does not alter existing redemption calendars, trust valuations, or merger deadlines. Investors should monitor subsequent filings for target announcements or redemption notices.
What changed: Quarterly report on Form 10-Q for the period ended March 31, 2025. The IPO was consummated on April 2, 2025, after the quarter end, with 27,600,000 units sold at $10.00 per unit, generating $276,000,000 gross proceeds, plus 338,000 private placement units to sponsor for $3,380,000. Trust account of $277,380,000 ($10.05 per unit) established. The company had no target identified as of the filing date. Sponsor advanced $3,150,000 for private placement before IPO. Promissory note of $205,000 repaid after IPO. Founder shares no longer subject to forfeiture due to full over-allotment exercise. Why it matters: Confirms SPAC is freshly post-IPO with trust value of $10.05 per share, 21-month deadline to complete a business combination (January 2, 2027), no target yet, and standard sponsor support and lock-up provisions.
What changed: A Joint Filing Agreement (Exhibit 1) executed under Rule 13d-1(k) of the Securities Exchange Act of 1934 to authorize consolidated submission of a Schedule 13G statement on behalf of multiple beneficial owners of Siddhi Acquisition Corp ordinary shares. This document does not alter or reference redemption deadlines, trust account values, extension mechanisms, business combination progress, or sponsor conduct. The undersigned parties exclusively establish a procedural arrangement whereby each agrees to jointly file a Schedule 13G on the other’s behalf, while maintaining individual responsibility for the timeliness and accuracy of information pertaining to their own beneficial ownership position. Why it matters: As a standard administrative exhibit, this agreement carries no operative effect on SDHI’s trust distribution mechanics, shareholder redemption rights, specified merger deadline, or ongoing target search. The undersigned explicitly allocate disclosure liability so that no party assumes responsibility for another party’s data unless they know or have reason to believe that information is inaccurate. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or operational personnel. Accordingly, it provides no new intelligence for investors monitoring trust value, extension voting, deal advancement, or sponsor behavior.
What changed: Schedule 13G, a statutory beneficial ownership report. The filing discloses that Sculptor Capital LP, Sculptor Capital II LP, Sculptor Capital Holding Corp, Sculptor Capital Holding II LLC, Sculptor Capital Management, Inc., Sculptor Master Fund, Ltd., and Sculptor Special Funding, LP hold registered beneficial ownership interests in SDHI. The text contains no information regarding the redemption deadline, trust value per share, extension provisions, target acquisition timeline, or sponsor governance actions. Why it matters: Per the submission, the consolidated stake establishes concentrated institutional voting power that may influence future shareholder approvals or amendment proposals. While the disclosure confirms active third-party capital positioning during the search phase, it provides no data on target pipelines, revenue expectations, technology roadmaps, partnership structures, or operational liabilities.
What changed: Schedule 13G joint filing statement and Exhibit I pursuant to Rule 13d-1(k)(1), operating as a beneficial ownership report filed under the Securities Exchange Act of 1934. Robin Shah, in his capacity as Managing Member of Tenor Management GP, LLC and Authorized Signatory, formally executed a joint consent on behalf of Tenor Capital Management Company, L.P., Tenor Opportunity Master Fund, Ltd., and himself to consolidate their regulatory disclosures regarding beneficial ownership of Siddhi Acquisition Corp Class A Ordinary Shares and Units. The excerpt contains zero data on transaction timing, purchase price, total share quantity, voting percentages, or purpose statements. It references no adjustments to the SPAC’s search window, trust account balances, extension mechanisms, redemption thresholds, target selection progress, or sponsor governance conduct. Why it matters: For investors tracking redemption deadlines, trust value, extensions, or deal execution, this filing introduces no mechanical or financial alterations. It solely registers a compliance-aggregation event that confirms Tenor Capital’s entities and Mr. Shah meet the reporting threshold requiring a unified 13G submission. Because the document supplies no share counts, acquisition dates, or strategic intent clauses, it cannot signal impending target identification, influence shareholder redemption calculus, or indicate changes in voting leverage or sponsor behavior. The submission makes no claims regarding customer concentration, revenue streams, addressable market dimensions, commercialization roadmaps, proprietary technology, partnership architectures, pending litigation, or executive leadership appointments. All assertions are limited to the statutory consent and signatory attestation provided by Robin Shah for the Tenor-capitalized entities on April 8, 2025.
What changed: Form 8-K Current Report and accompanying audited Balance Sheet dated April 2, 2025 disclosing the consummation of the Initial Public Offering and Private Placement. The 8-K reports that Siddhi Acquisition Corp closed its IPO on April 2, 2025, issuing 27,600,000 Units at $10.00 per Unit, fully exercising the underwriter's over-allotment option for 3,600,000 additional Units. The registrant simultaneously sold 338,000 Private Placement Units to Siddhi Sponsor LLC at $10.00 each for $3,380,000. According to the audited balance sheet, $277,380,000 was deposited into the Trust Account, establishing a redemption value of $10.05 per Class A ordinary share. The filing specifies a completion window of 21 months from the IPO closing date, ending January 2, 2027, with a potential extension to 24 months if a definitive business combination agreement is signed within the initial period. Note 5 details the sponsor's founder share trajectory, finalizing at 6,900,000 Class B ordinary shares after recent recapitalizations, permanently retaining the 900,000 shares previously subject to forfeiture. The sponsor also allocated membership interests equivalent to 145,000 founder shares, valued at $214,135 or $1.477 per share, to key personnel. The balance sheet records $8,280,000 in deferred underwriting fees and $8,280,000 in advisory fees owed to Santander US Capital Markets LLC, alongside a $205,000 related-party promissory note. Monthly administrative ($15,000) and consulting ($3,500) fees commenced in late March and April 2025. Why it matters: This filing establishes the definitive trust funding floor and redemption mechanics for public shareholders. The $10.05 per-share trust value, explicitly calculated and recorded rather than assumed, sets the baseline for all future redemption pricing and protects against immediate dilution. The 21-month countdown initiates immediately, creating a strict operational deadline for a business combination, while the conditional six-month extension ties directly to the signing of a definitive agreement. Sponsor conduct is structurally bound: the 8-K documents that founders waive redemption rights on their founder shares, lock up insider holdings, and contractually guarantee the trust will not dip below the lesser of $10.05 per share or the actual trust value at liquidation, though management explicitly notes it has not verified the sponsor's ability to fund that indemnity. With zero revenue generated and no substantive target discussions underway per Note 1, all non-trust expenditures—including the $250,000 upfront underwriting payment, the $15,000 monthly administrative charge, and the $3,500 monthly consulting fee—are drained from approximately $1,448,714 in working capital. The filing also highlights a 15.0% market adjustment applied to value the public rights at $0.148 each, reflecting management's assessment of business combination probability and macroeconomic headwinds. Investors monitoring redemption thresholds must track whether the sponsor deploys the available $1,500,000 in unsecured working capital loans or allows the 145,000 assigned founder shares to vest solely upon successful deal consummation.
What changed: 8-K Current Report reporting the consummation of Siddhi Acquisition Corp.'s initial public offering and related agreements. The company closed its IPO on April 2, 2025, issuing 27,600,000 units (including full over-allotment) at $10.00 per unit for gross proceeds of $276,000,000, plus a private placement of 338,000 units to the sponsor for $3,380,000. Total of $277,380,000 deposited into the trust account with Continental Stock Transfer & Trust Company, yielding a per-share trust value of approximately $10.05 per public share (before interest). The initial business combination deadline is 24 months from the IPO closing (i.e., by April 2, 2027). The company also entered into standard SPAC agreements: underwriting, rights, letter agreement, trust, registration rights, private placement, administrative services, and indemnity agreements; and filed its amended and restated memorandum and articles of association. Why it matters: This filing establishes the trust account size, per-share redemption value, the deadline for completing a business combination, and the sponsor's lock-up and forfeiture terms. It confirms that the sponsor's 6,900,000 founder shares will not be forfeited because the over-allotment was exercised in full. The sponsor and insiders are locked up on founder shares until one year after a deal (or $12.00 price trigger) and on private placement units for 30 days after a deal. The administrative services agreement provides up to $15,000/month to the sponsor. No target has been selected. The trust proceeds are to be invested only in U.S. Treasury bills with ≤185-day maturity or money market funds investing solely in direct U.S. government obligations.
What changed: SEC Form 4 – Statement of Changes in Beneficial Ownership. The filing updates the insider registry without modifying any trust mechanics, redemption parameters, or business combination deadlines. According to the data filed by Siddhi Acquisition Corp (Cayman Islands) on 2025-04-02, the $10.55 per-share trust balance, the 2027-01-02 termination window, and the SPAC’s contractual extension provisions remain unchanged. Why it matters: Attested by the self-reported disclosure of Reporting Person Brian D. Finn, the document records an open-market acquisition of 338,000 shares executed on 2025-04-02, raising Finn’s stated position to 7,238,000 shares. The filer identifies Finn as a director, 10% owner, and Chairman of the Board of Directors. Because the transaction occurred in the secondary market, it does not dilute public shareholders, does not alter redemption entitlements, and does not trigger any automatic deal-progression or trust-distribution mechanisms. The document contains no substantiated claims regarding customers, revenue, market size, strategy, technology, partnerships, or litigation, which aligns with the stated SEARCHING status. For investors tracking sponsor alignment and secondary-market liquidity while the blank-check vehicle searches for a target, the disclosed accumulation provides a transparent marker of executive capital deployment at prevailing public prices.
What changed: A Form 4 insider ownership report documenting an open-market equity purchase by a sponsor affiliate. As reported by Siddhi Sponsor LLC on 2025-04-02, the entity executed an open-market purchase of 338,000 shares. The filing discloses that following this transaction, the sponsor’s total holding stands at 7,238,000 shares, which the filer characterizes as a 10% ownership stake in the issuer. Why it matters: This filing does not modify any redemption deadline, trust account value, extension mechanism, or deal advancement milestone, as the document contains no provisions governing those operational mechanics. Regarding sponsor conduct, the open-market acquisition increases the sponsor’s direct equity position without drawing from the SPAC’s trust account or altering shareholder redemption pools. The filing makes no substantive claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel.
What changed: A Form 3 initial statement of beneficial ownership, specifically an insider ownership report for Siddhi Acquisition Corp (Cayman Islands), filed by Director and Chief Executive Officer Sam S. Potter. The SEC filing reports zero non-derivative transactions or holdings for the named reporting person. There were no updates to insider share counts, trust account movements, extension mechanisms, or business combination milestones. The document explicitly attributes the absence of activity to the standard disclosure requirements. Why it matters: Investors monitoring the sponsor’s alignment and redemption mechanics can note that this compliance submission establishes a neutral baseline for director-officer equity. Attributed directly to the Form 3 filing, the explicit lack of reported transactions confirms no shifts in voting power or economic stake ahead of future shareholder windows. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, or litigation, leaving the company’s public record unchanged for this reporting cycle.
What changed: A Form 3 insider ownership report, classified as a routine compliance exhibit. Director Jessica Hoffman Brennan reported no non-derivative transactions or holdings. The filing delivers no information on trust account valuation, redemption deadlines, extension voting, deal progression, or sponsor behavior. Why it matters: For investors tracking insider alignment and capital deployment signals, the disclosure confirms zero movement in executive equity positions. Without reported buys, sells, or derivatives, there is no verifiable evidence of directors adjusting exposure ahead of shareholder redemptions or capital calls. The document contains no assertions about customer bases, revenue streams, addressable markets, strategic direction, proprietary technology, commercial partnerships, legal disputes, or leadership changes. While it does not advance the merger timeline or modify the search parameters, the clean record of inactivity sets a measurable baseline for sponsor transparency during the pre-deadline period.
What changed: Statutory prospectus (Rule 424(b)(4)) filed pursuant to Registration Statement No. 333-285648 for an initial public offering of 24,000,000 units by Siddhi Acquisition Corp, a Cayman Islands exempted blank check company formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination. Why it matters: The $10.05 per-unit trust balance includes $7,200,000 in deferred underwriting commissions and a 3.00% advisory fee, reducing net deployable capital relative to gross inflows. The sponsor’s $25,000 outlay for approximately 6,900,000 Class B ordinary shares before forfeiture creates immediate implied dilution, while the simultaneous $3,200,000 private placement commitment aligns insider incentives with completing a transaction before the 21-month expiration, as both founder shares and private units expire worthless upon liquidation.
What changed: SEC Form 3 (initial statement of beneficial ownership) reporting the indirect equity position of director Brian D. Finn. According to the filed Form 3, director Brian D. Finn holds 6,900,000 shares indirectly. The document provides no purchase price, transaction date, or prior balance. It contains no references to the $10.55 trust per share, the 2027-01-02 merger deadline, any extension provisions, redemption mechanics, deal progress, or sponsor conduct beyond this static ownership listing. Consequently, the tracked mechanical timelines and conditions remain unchanged. Why it matters: The filing attributes the 6,900,000-share indirect holding solely to the reporting director during the searching phase. It offers no further substance regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Because the Form 3 record presents only a baseline ownership snapshot without transactional details or operational updates, it does not alter investor calculations for redemptions, extensions, or trust distribution. All reported figures and statuses originate exclusively from this regulatory submission.
What changed: SEC Form 3, an initial statement of beneficial ownership, reporting the baseline equity position for director Howard Alan H in Siddhi Acquisition Corp. The filing explicitly states that no non-derivative transactions or shareholdings were recorded for the named director. There is no alteration to insider ownership percentages, sponsor alignment metrics, or capital structure. The submission does not trigger any redemption calendar shifts, extension triggers, or deal-phase transitions, and the document contains no monetary, volume, or percentage data to recalculate trust mechanics or per-share dynamics. Why it matters: For investors monitoring sponsor conduct and insider exposure during a SEARCHING period, an unpopulated Form 3 indicates that at least one board member has not yet disclosed personal equity accumulation or derivative grants as of the April 1, 2025 filing date. The SEC submission attributes this null position solely to the director, signaling either standard deferred reporting timing or a deliberate absence of traded shares at this stage. While the lack of reported insider capital does not mechanically affect shareholder redemption rights or the reserve balance, it temporarily limits visible management skin-in-the-game ahead of any announced business combination. The filing offers no information regarding target selection, negotiation status, partnership announcements, revenue projections, technology roadmaps, personnel changes, or litigation, leaving all material commercial and strategic variables open for future disclosures.
What changed: This document is a Form 3 insider ownership report, a routine regulatory compliance exhibit filed to disclose initial or changed beneficial shareholdings. The filing states that Siddhi Sponsor LLC holds 6,900,000 direct shares and identifies the sponsor as a 10% owner. It does not list acquisition dates, consideration paid, or vesting conditions. Regarding the mechanics tracked by investors—redemption deadlines, trust value, extensions, and deal progress—this report neither advances nor delays SDHI’s SEARCHING timeline, does not alter the 2027-01-02 deadline, does not revalue the $10.55 trust per share, and signals no completed or pending business combination. The static disclosure simply logs sponsor equity that typically survives public redemptions. Why it matters: Investors use Form 3 filings to map founder/sponsor alignment against public trust capital ahead of a target search. Knowing that Siddhi Sponsor LLC retains 6,900,000 direct shares (classified as a 10% ownership position by the filer) provides a baseline for post-combination voting power and economic participation once a deal is announced. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel; it is purely an administrative record of share counts filed on 2025-04-01 under identification number 0001213900-25-026941.
What changed: A Form 3 insider ownership report, classified as a routine regulatory compliance exhibit submitted to disclose initial or ongoing equity holdings. The filing explicitly states there were 'No non-derivative transactions or holdings reported.' As a result, there is zero movement affecting insider sponsorship, the trust account valuation, the company’s search timeline, any extension proposals, or mechanisms governing shareholder redemptions. The operational and financial mechanics remain entirely unaltered by this submission. Why it matters: This periodic disclosure serves only to verify the Chief Financial Officer’s reported position under federal securities rules. It introduces no new commercial claims, customer concentrations, revenue projections, market size estimates, technology roadmaps, partnership announcements, litigation matters, or personnel changes. For investors tracking the redemption calendar and capital preservation, the document establishes a neutral baseline of unchanged insider equity but provides no forward-looking substance regarding business combination progress, due diligence status, or corporate strategy. All statements reflect solely the reporting person’s self-certification within the SEC filing.
What changed: A Securities and Exchange Commission Form 3 initial statement of beneficial ownership of securities, used to publicly disclose an insider's direct equity holdings and transaction activity. The filing reports that director Matthew Shigenobu Muta had 'No non-derivative transactions or holdings reported,' confirming zero movement in his registered direct share position as of the April 1, 2025 filing date. Why it matters: For a SEARCHING-phase SPAC tracking a January 2, 2027 business combination deadline and a $10.55 per-share trust balance, an empty Form 3 provides no new signals regarding sponsor conviction, secondary market support, or redemption anticipation. The submission reflects standard regulatory compliance without altering the trust account mechanics, triggering any extension timelines, or offering guidance on deal progress. Because the document explicitly states no equity positions were reported, it contains no actionable data on sponsor conduct shifts, target pipeline developments, customer claims, revenue metrics, market size estimates, technology roadmaps, partnership announcements, litigation exposure, or personnel changes. As documented by the filer, there were no insider trades or balances to update.
What changed: This is a Form S-1MEF Registration Statement filed under the Securities Act of 1933 pursuant to Rule 462(b), which expressly incorporates by reference the contents of the Prior Registration Statement (No. 333-285648) declared effective on March 31, 2025. FIRST, the filing registers additional units for the proposed public offering. Per the Explanatory Note authored by the Registrant, these additional units represent 'no more than 20% of the maximum aggregate offering price' set forth in the original filing fee table. The Certification section asserts the Registrant holds sufficient funds and undertakes to wire the filing fee by April 1, 2025. The signature block attributes execution authority to Sam Potter (Chief Executive Officer and President), Mike Rollins (Chief Financial Officer), Brian D. Finn (Chairman of the Board), and Directors Alan H. Howard, Jessica Hoffman Brennan, and Matthew Shigenobu Muta. The document contains no provisions modifying the redemption deadline, trust account per-share value, extension voting mechanics, merger target status, or sponsor fiduciary conduct. Why it matters: FIRST, scaling the registered capital raise by up to 20% directly impacts the pre-combination public float, post-redeemable enterprise value, and relative sponsor-to-public ownership ratios that dictate future de-SPAC negotiation leverage. THEN, because this operates as a Rule 462(b) automatic effectiveness amendment rather than a full prospectus superseding, all foundational IPO covenants remain intact until separately disclosed. FINALLY, the filing contains no commercial, operational, or strategic disclosures: it makes zero claims about end customers, historical or projected revenue, addressable market size, proprietary technology, vendor partnerships, active litigation matters, or executive turnover, serving exclusively as a securities registration sizing tool executed by the named officers and retained counsel.
What changed: Form 8-A for Registration of Certain Classes of Securities Pursuant to Section 12(b) of the Securities Exchange Act of 1934. The filing registers Units (each composed of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share), Class A ordinary shares ($0.0001 par value), and Rights for listing on The NASDAQ Stock Market LLC. It incorporates by reference the security descriptions from the Form S-1 initially filed August 20, 2024 (Registration No. 333-285648). Siddhi Acquisition Corp explicitly states no exhibits are required and introduces no amendments to trust account terms, redemption procedures, business combination deadlines, or extension mechanisms. Why it matters: This is a routine administrative listing confirmation that does not modify the SPAC’s redemption calendar, trust distribution mechanics, extension options, or sponsor search obligations. It simply formalizes the exchange registration for the publicly traded components that underpin the trust structure and business combination timeline. Chief Executive Officer Sam Potter executed and dated the filing on March 31, 2025, confirming the company’s authorization to register these specific security classes for Section 12(b) compliance without altering underlying investment vehicle terms.
What changed: A Rule 461/460 correspondence letter submitted to the SEC by the lead underwriter, Santander US Capital Markets LLC, requesting that the effective date of Siddhi Acquisition Corp’s Form S-1 Registration Statement (File No. 333-285648) be accelerated to 4:30 p.m., Eastern Time, on Monday, March 31, 2025, and confirming that approximately 500 copies of the Preliminary Prospectus dated March 7, 2025, were distributed to underwriters, dealers, institutions and others. Why it matters: As stated by Santander US Capital Markets LLC, accelerating the S-1 effective date advances the timing for IPO pricing and commencement of public trading, which precedes the influx of capital that would normally fill the trust account. This routine regulatory correspondence does not trigger redemption windows, modify extension votes, alter the $10.55 per share trust baseline, or disclose target progression or sponsor funding behavior.
What changed: A regulatory correspondence (CORRESP) to the SEC Division of Corporation Finance formally requesting acceleration of the effective date for Siddhi Acquisition Corp’s Form S-1 Registration Statement (File No. 333-285648). No redemptions, trust adjustments, extension votes, target selections, or sponsor actions are reported. Chief Executive Officer Sam Potter submits the request to the Commission asking that the registration statement become effective on March 31, 2025 at 4:30 p.m., Eastern Time, or as soon thereafter as practicable. Why it matters: This accelerates the anticipated listing window without touching the January 2, 2027 business combination deadline or the $10.55 per-share trust balance already tracked. Because the correspondence contains no disclosures about customers, revenue streams, market sizing, technology roadmaps, strategic partnerships, active litigation, or executive compensation, it carries no incremental weight on execution risk, liquidation exposure, or shareholder protections.
What changed: Amendment No. 1 to Registration Statement on Form S-1 (exhibits-only filing for initial public offering of Siddhi Acquisition Corp). This is an exhibits-only filing. The filing adds all standard IPO exhibits: underwriting agreement (Ex-1.1), memorandum and articles (Ex-3.1), amended and restated memorandum and articles (Ex-3.2), specimen unit and share certificates (Ex-4.1, 4.2), rights agreement and share rights agreement (Ex-4.4, 4.5), legal opinions from Loeb & Loeb and Appleby (Cayman) (Ex-5.1, 5.2), letter agreement with sponsor and insiders (Ex-10.1), investment management trust agreement (Ex-10.2), registration rights agreement (Ex-10.3), private placement units purchase agreement (Ex-10.4), indemnity agreement (Ex-10.5), promissory note and amendment (Ex-10.6, 10.7), securities subscription agreements (Ex-10.8, 10.9, 10.10), administrative services agreement (Ex-10.11), code of ethics (Ex-14), audit and compensation committee charters (Ex-99.1, 99.2), and consents of director nominees (Ex-99.3 to 99.6). The business combination deadline in the amended and restated articles is 24 months from IPO closing (Article 53.7). Initial trust deposit is $199.75 million on 20 million units (or up to $229.75 million if over-allotment exercised). Per the underwriting agreement, proceeds are $9.9875 per unit to trust, with a $6 million deferred underwriting fee (up to $6.9 million if over-allotment). Sponsor holds 5,750,000 Class B founder shares purchased for $25,000, of which up to 750,000 may be forfeited if over-allotment not fully exercised. Sponsor will purchase 300,000 private placement units (315,000 if over-allotment exercised) for $10.00 per unit ($3 million total). Monthly administrative fee to sponsor affiliate is $15,000. Underwriter is Santander US Capital Markets LLC. Why it matters: This filing completes the exhibits for SDHI's IPO, providing full disclosure of all material agreements, trust mechanics, and sponsor economics. The 24-month deadline and $199.75 million initial trust establish the redemption and deadline framework. The founder share structure and potential forfeiture mechanism affect post-IPO economics. All standard SPAC governance documents are now public.
What changed: Registration statement on Form S-1 for a proposed initial public offering of 20,000,000 units (or 23,000,000 if over-allotment exercised) at $10.00 per unit, each unit consisting of one Class A ordinary share and one right to receive one-tenth of a Class A ordinary share upon consummation of a business combination. The SPAC is searching for a target and has not identified one. Initial public filing. No prior public disclosure. Key terms according to the filing: trust value initially anticipated at $10.05 per public share; deadline of 21 months from closing (or 24 months if a definitive agreement is signed within 21 months); sponsor holds 5,750,000 founder shares purchased for $25,000 (approx. $0.004 per share); sponsor commits to purchase 300,000 private placement units (or 315,000 if over-allotment) at $10.00 per unit; gross proceeds of $200 million ($230 million with over-allotment) to be placed in trust; public shareholders can redeem shares at trust value upon business combination; a 15% shareholder redemption limit applies if shareholder vote is sought; and the SPAC has not yet selected any target business. Why it matters: This filing establishes the SPAC's structure, trust value, redemption mechanics, and sponsor incentives. Investors can evaluate the terms of the IPO, including the dilution from founder shares, the deadline for a deal, and the conditions for redemption. It also provides background on the management team and their prior SPAC experience (Rotor Acquisition Corp, Tuscan Holdings Corp). The filing is material as it is the first public disclosure of the offering terms.
What changed: A regulatory response letter (DRSLTR) filed by securities counsel Loeb & Loeb on behalf of Siddhi Acquisition Corp, addressing U.S. Securities & Exchange Commission Staff comments on an amended Draft Registration Statement on Form S-1. Siddhi Acquisition Corp, through counsel Giovanni Caruso, submitted Amendment No. 2 via Edgar on November 6, 2024, to resolve Staff comments initially issued on October 29, 2024. Regarding sponsor equity mechanics, the cover page was revised to disclose the approximate price per share the sponsor paid for founder shares, satisfying Item 1602(a)(3) of Regulation S-K. Regarding warrant settlement mechanics, the Company certified that the Warrant Agreement contains no terms or provisions that adjust settlement amounts based on holder characteristics, having evaluated all exercise contingencies and payout structures through step 1 and step 2 of ASC 815-40. These targeted updates preserve the public shareholder redemption waterfall and prevent structural dilution ahead of any merger vote. Why it matters: The filing confirms the trust fund remains undisturbed while the Registration Statement cycles through SEC review, meaning no emergency extensions or early liquidation triggers have occurred since the Company's SEARCHING status began. By clarifying the sponsor's founder share acquisition cost and certifying warrant settlement neutrality, the Company eliminates valuation ambiguity that could otherwise shift net tangible book value or reduce per-share cash recoveries upon a business combination close. Additionally, relocating prospectus summary disclosures previously scattered across pages 36, 64, 123, and 124 to page 8 streamlines material fact access, potentially accelerating shareholder due diligence before a special meeting. Ongoing Staff correspondence indicates target selection, merger negotiation, and final pricing terms remain pending, so the trust balance continues accruing interest for public unit holders until an amendment to the proxy solicitation or a formal tender offer is declared effective.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.