YHNA SEC filings, in plain English
Everything YHN Acquisition I Ltd has filed with the SEC that we hold — 40 filings, newest first, 40 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.
The feed
live EDGAR captureNew filings appear here within minutes of hitting EDGAR; summaries follow once the pipeline has read them.
What changed: YHN Acquisition I Ltd filed a Definitive Proxy Statement (DEF 14A) on August 24, 2026, soliciting shareholder votes for an Annual Meeting on September 14, 2026. The filing proposes two amendments to extend the Company's deadline to consummate a business combination from September 19, 2026, to June 19, 2027, in three-month increments. If approved, the Sponsor will contribute $100,000 per extension as an interest-free loan repayable upon business combination completion or forgiven if liquidation occurs. The filing states that approximately $27,968,729.26 was in the Trust Account as of August 20, 2026, yielding an estimated redemption price of $11.03 per share. It also discloses that 3,464,179 shares were tendered for redemption at the previous meeting and details a prior Business Combination Agreement with Mingde Technology Limited entered into on April 3, 2025. Why it matters: This filing establishes the critical redemption deadline of September 10, 2026, for shareholders seeking to exit at the pro rata trust value before any potential extension takes effect. It confirms the specific cost ($100,000 per extension) and mechanism (Sponsor loans) for extending the SPAC's life, directly impacting the timeline for investors to realize returns or face liquidation. The disclosure of the Mingde Technology agreement provides context for the ongoing search for a target, while the redemption price estimate allows investors to compare the cash-out option against market trading prices.
What changed vs 2025-11-14deadline 2026-09-19 → 2027-06-19combination deadline1 moved
- Combination deadline
- 2026-09-192027-06-19
SpacBrain reads this as 273 days later than the previous record.
The clause …“times for an additional three (3) months each time from September 19, 2026 to June 19, 2027 by depositing into the trust account an aggregate amount of $100,000 for each three-month extension. NOW THEREFORE, IT IS AGREED: 1. Preamble.”…
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 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 vs 2026-05-14trust $27.4M → $27.8M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $27.4M$27.8M
- Combination deadline
- 2026-09-19 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 2.54M · unchanged
SpacBrain reads this as $393,104 was added to the trust between the two filings.
The clause “Description 2026 (Level 1) (Level 2) (Level 3) Assets: U.S. Treasury Securities held in Trust Account $ 27,832,053 $ 27,832,053 $ – $ – December 31, Quoted Prices In Active Markets Significant Other Observable Inputs Significant Other”…
The clause …“doubt about the Company’s ability to continue as a going concern if a business combination is not consummated by September 19, 2026 (assuming full extension). These financial statements do not include any adjustments relating to”…
The clause …“to it on commercially acceptable terms if at all. These conditions raise substantial doubt about the ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result”…
The clause …“shareholders’ equity. Accordingly, as of June 30, 2026 and December 31, 2025, 2,535,821 and 2,535,821 ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’”…
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: Preliminary Proxy Statement (Schedule 14A) for the Annual General Meeting of Shareholders scheduled for September 14, 2026, soliciting shareholder approval to amend the company's governing documents and trust agreement to extend the business combination deadline. According to the preliminary proxy statement, the board of directors and Chief Executive Officer Poon Man Ka, Christy propose charter and trust amendments granting the board discretion to extend the business combination deadline three additional times for three months each, moving the termination date from September 19, 2026 to June 19, 2027. The board states each extension requires a $100,000 deposit into the trust account, lowering the quarterly extension payment from the previously approved $150,000. Management states the sponsor, YHN Partners I Limited, or its affiliates will provide these extension payments as interest-free loans, which will be repayable upon business combination consummation or forgiven if the company liquidates without closing a transaction. The filing states that on April 3, 2025, the company entered into a business combination agreement with Mingde Technology Limited, though management notes U.S. foreign ownership regulations and potential Committee on Foreign Investment in the United States (CFIUS) review may constrain or delay closing opportunities. The record date is fixed as August 19, 2026, with 4,285,821 outstanding ordinary shares entitled to vote. Shareholders must submit written redemption requests to Continental Stock Transfer & Trust Company by September 10, 2026. The board states it will not proceed with the amendment if redemptions would leave the company with net tangible assets below $5,000,001 after tax and fee adjustments. The filing redacts the current trust account balance as approximately $[ ] million and the illustrative per-share redemption price as approximately $[ ]. For related-party obligations, the company reports paying its sponsor affiliate a $10,000 monthly administrative service fee, incurring $154,000 in 2025 and $30,000 in 2024, with $36,059 in unpaid reimbursable expenses owed to initial shareholders as of June 30, 2025. A $790,038 temporary advance from the sponsor remained outstanding as of December 31, 2025. In connection with the 2025 AGM, the company states 3,464,179 ordinary shares were tendered for redemption, and it deposited $150,000 into the trust account on December 15, 2025, March 19, 2026, and June 17, 2026 to maintain operations. Why it matters: The extension mechanism directly controls whether public shareholders retain exposure to potential upside in the Mingde Technology Limited transaction or are forced to redeem at an unverified trust value before mid-2027. By lowering the quarterly trust deposit to $100,000, the sponsor reduces the cumulative drag on public capital relative to prior extension cycles, which management argues preserves higher per-share payouts if liquidation ultimately occurs. The requirement that sponsor deposits arrive as interest-free loans that convert to repayable debt or forgiveness depending on deal success structurally aligns sponsor incentives with merger completion rather than mere time-extension revenue. The redacted trust balance prevents independent verification of the actual redemption floor, leaving holders to gauge downside risk against market trading prices before the September 10, 2026 redemption cutoff. Management attributes the continued search to anticipated regulatory scrutiny under the Foreign Investment Risk Review Modernization Act of 2018 and CFIUS jurisdiction, suggesting the target pool may be constrained for Hong Kong-controlled SPACs navigating U.S. national security reviews. Unpaid reimbursements and existing administrative fee obligations demonstrate ongoing operational costs drawing against non-trust corporate accounts, while the $5,000,001 net tangible asset threshold acts as a structural anti-dilution safeguard that could trigger accelerated liquidation if substantial redemption waves materialize at the meeting.
What changed: A routine compliance exhibit submitted as an SEC Form 8-K Current Report to disclose a mandatory trust account deposit. According to the filing signed by Chief Executive Officer Poon Man Ka, Christy, YHN Acquisition I Limited deposited $150,000 into its trust account on June 17, 2026. This funding formally advances the deadline to complete a business combination from June 19, 2026 to September 19, 2026. Why it matters: The deposit prevents an imminent liquidation vote tied to the June 19 expiration, effectively pausing the redemption deadline and granting the sponsor a three-month bridge to locate or close a target. The submission discloses no pending merger candidates, revised redemption prices, leadership changes, or operational updates beyond the mechanical funding event. By strictly confirming administrative compliance with the trust extension clause, the filing signals that the SPAC remains in search mode and investors should monitor subsequent submissions for either a definitive agreement or a second extension request.
What changed: A Form 8-K Current Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, functioning as a routine compliance exhibit that discloses receipt of a Nasdaq deficiency notice under Item 3.01 for failure to satisfy continued listing standards. On June 10, 2026, YHN Acquisition I Limited received a notification letter from The Nasdaq Stock Market LLC stating non-compliance with Nasdaq Listing Rule 5450(a)(2), which requires a minimum of 400 Total Holders (beneficial holders plus record holders). Per management's disclosure, trading for Units (YHNAU), Ordinary Shares (YHNA), and Rights (YHNAR) will continue uninterrupted. The Company now has 45 calendar days to submit a compliance plan to Nasdaq. If Nasdaq accepts the plan, it may grant an extension of up to 180 calendar days to evidence compliance. As an alternative path, the Company noted it may apply to transfer its listing to The Nasdaq Capital Market, which requires submitting an online application, paying a $5,000 application fee, and satisfying Capital Market continued listing requirements. This event does not amend the existing merger deadline or alter the documented trust value per share, but introduces formal exchange oversight and a defined remediation timeline that directly impacts capital markets execution logistics. Why it matters: Holder deficiency announcements routinely precede liquidity contraction and wider trading spreads, which raises execution friction for both SPAC sponsors coordinating business combinations and public shareholders weighing redemption timing. The filing contains no new claims regarding customers, revenue, market size, strategy, technology, partnerships, or pending litigation. On personnel, the report is executed by Chief Executive Officer Poon Man Ka, Christy. All assertions regarding future compliance actions, monitoring of Total Holders, and expectations around Nasdaq's evaluation criteria (including the Company’s past compliance history, reasons for non-compliance, other corporate events, and overall financial condition) are attributed exclusively to the registrant’s forward-looking statements and standard legal disclaimers. Whether this procedural setback escalates to mandatory action before the September 19, 2026 deadline depends entirely on subsequent regulatory submissions rather than updated financial or operational metrics.
What changed: Form 10-Q (Quarterly Report) for YHN Acquisition I Limited, a SPAC, for the period ended March 31, 2026, filed May 14, 2026. Trust account value increased from $27,050,906 to $27,438,949 due to $388,043 remeasurement and $150,000 extension deposit. Redemption price per share rose from $10.67 to $10.82. The company extended the business combination deadline to June 19, 2026 (two extensions used). Sponsor advances increased from $790,038 to $1,011,924. Working capital deficit widened to $984,667. Net income for Q1 2026 was $95,567. Company received Nasdaq deficiency notices on April 17, 2026 for MVPHS and MVLS non-compliance. The business combination agreement with Mingde Technology remains pending, with outside closing date extended to June 19, 2026. Why it matters: The trust value increase is positive but minimal; the company faces a rapidly approaching June 19, 2026 deadline to close the deal. Nasdaq listing is at risk, which could complicate the business combination. Sponsor support is critical as shown by rising advances. The going concern disclosure indicates substantial doubt if the deal fails. The redemption per share is above the IPO price, providing some protection for public shareholders.
What changed vs 2025-11-14trust $63.0M → $27.4M -56%deadline 2025-12-18 → 2026-09-19shares 6.00M → 2.54M -58%trust account, combination deadline, redeemable shares +13 moved · 1 with no prior record of ours
- Trust account
- $63.0M$27.4M
- Combination deadline
- 2025-12-182026-09-19
- Redeemable shares
- 6.00M2.54M
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $35,585,027 left the trust between the two filings.
The clause “Description 2026 (Level 1) (Level 2) (Level 3) Assets: U.S. Treasury Securities held in Trust Account $ 27,438,949 $ 27,438,949 $ – $ – December 31, Quoted Prices In Active Markets Significant Other Observable Inputs Significant Other”…
SpacBrain reads this as 275 days later than the previous record.
The clause …“doubt about the Company’s ability to continue as a going concern if a business combination is not consummated by September 19, 2026 (assuming full extension). These financial statements do not include any adjustments relating to”…
SpacBrain reads this as 3,464,179 shares are no longer redeemable.
The clause …“equity. Accordingly, as of March 31, 2026 and December 31, 2025, 2,535,821 and 2,535,821 ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’”…
The clause …“to it on commercially acceptable terms if at all. These conditions raise substantial doubt about the ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result”…
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 8-K Current Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, disclosing Item 3.01: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 17, 2026, The Nasdaq Stock Market LLC issued two deficiency letters notifying YHN Acquisition I Limited that it failed to satisfy the minimum Market Value of Publicly Held Shares (MVPHS) of $15,000,000 and the minimum Market Value of Listed Securities (MVLS) of $50,000,000 for 30 consecutive business days spanning March 5, 2026, to April 16, 2026. Nasdaq granted the company a 180-calendar-day cure period expiring October 14, 2026. To regain compliance, the company must demonstrate an MVPHS closing at $15,000,000 or more, or an MVLS closing at $50,000,000 or more, for a minimum of 10 consecutive business days before that deadline. As of April 20, 2026, Ordinary Shares will continue trading on Nasdaq under the symbol “YHNA” without immediate effect. Why it matters: This filing does not alter the SPAC’s September 19, 2026, redemption deadline, the reported $10.98 trust value per share, or the ongoing SEARCHING status. However, the simultaneous MVPHS and MVLS deficiencies signal sustained low capitalization, which can constrict secondary market liquidity and complicate shareholder exit pathways independent of a redemption event. Chief Executive Officer Poon Man Ka, Christy signed the filing to disclose that the registrant ‘will consider implementing available options to regain compliance’ and ‘intends to monitor’ the Nasdaq requirements. If the company cannot restore either threshold by October 14, 2026, Nasdaq will issue a formal delisting notice, though the filing notes a potential alternative path via transfer to The Nasdaq Capital Market subject to a separate online application and satisfaction of Capital Market continued listing requirements.
What changed: Routine compliance exhibit — a Schedule 13G/A beneficial ownership report. The filing identifies RiverNorth Capital Management, LLC as the reporting holder. The provided text lists only the document designation, accession number, and holder name. It contains no share counts, percentages, acquisition dates, or voting/investment authority designations. It makes no reference to redemption mechanics, trust account distributions, extension proposals, target identification, or sponsor conduct. Why it matters: Institutional ownership filings track capital concentration and can foreshadow proxy activity or merger negotiations, but this excerpt supplies zero quantitative holdings or strategic directives. According to the filing text, RiverNorth Capital Management, LLC reports solely as a holding entity without advancing claims about customer relationships, revenue composition, market sizing, corporate strategy, technology development, partnership structures, pending litigation, or personnel appointments. Because it discloses neither aggregate position nor transaction timestamps, it does not signal shareholder activism, redemption expectations, or challenges to sponsor behavior ahead of the scheduled search expiration. Material impact would require subsequent amendments specifying share changes or voting intent.
What changed: A Form 4/A amendment to an insider ownership report, classified as a routine compliance exhibit used to correct or supplement previously filed Section 16 disclosures by reporting person Tominaga Satoshi. Bearing on the mechanics you track, the amended filing does not modify the documented SEARCHING status, the $10.98 trust/share ledger balance, or the 2026-09-19 liquidation deadline. It contains no notices regarding extension resolutions, redemption window calculations, target discovery, or deal progress. Instead, the report discloses that Tominaga Satoshi executed an open-market sale on 2025-08-01, disposing of 15,000 shares at $0.014 per share, leaving a confirmed post-transaction holding of 15,000 shares. The reporting person labels himself as “Former CEO and Director,” which updates the issuer’s executive roster without explaining the departure rationale, successor arrangements, or sponsor conduct details. No substantive claims regarding customer bases, revenue streams, addressable markets, strategic pivots, proprietary technology, partnership agreements, or active litigation appear in the disclosure. Why it matters: Investors monitoring redemption calendars and sponsor behavior should note that the title update signifies reduced executive oversight during the unextended SEARCHING phase, while the disclosed execution price of $0.014 operates independently of the reported $10.98 trust reserve, indicating secondary market pricing dynamics rather than a shift in statutory trust accounting. Because the submission amends an earlier insider report, it rectifies historical regulatory timing without introducing structural modifications, preserving the integrity of the 2026-09-19 deadline and the existing trust framework for investor redemption modeling. The retained position of 15,000 shares confirms continued, albeit minimal, equity alignment without triggering additional disclosure thresholds.
What changed: Annual Report on Form 10-K for fiscal year ended December 31, 2025, filed by YHN Acquisition I Limited (YHNA), a blank check SPAC that has entered into a business combination agreement with Mingde Technology Limited. First annual report since IPO (Sept 2024). Key changes: (1) Entered binding business combination agreement with Mingde Technology Limited (online sports platform) in April 2025, amended multiple times to restructure consideration ($200M base plus up to $80M earnout). (2) At December 2025 shareholder meeting, 3,464,179 shares redeemed for $36.65M, reducing trust from $61.1M to $27.1M. Trust per-share value rose to $10.67 from $10.18 due to redemptions and interest. (3) Extension approved to September 19, 2026 (three possible 3-month extensions). Two extensions used so far, current deadline June 19, 2026. (4) Working capital deficit of $692,191; cash $140,550; sponsor advance $790,038. (5) Net income of $1.33M (2025) vs $0.50M (2024) from trust interest/dividends. (6) Going concern warning if business combination not completed by deadline. Why it matters: This filing provides critical updates on trust account status, business combination progress, redemption activity, and extension timeline. The 57.7% redemption rate and going concern warning indicate potential difficulty completing the deal. The trust value of $10.67 per share is above IPO price, but working capital deficit and reliance on sponsor advances raise liquidity concerns. The deadline is June 19, 2026; failure to close leads to liquidation.
What changed vs 2025-03-20deadline 2025-12-18 → 2026-09-19shares 6.00M → 2.54M -58%combination deadline, redeemable shares, trust account +12 moved · 2 with no prior record of ours
- Combination deadline
- 2025-12-182026-09-19
- Redeemable shares
- 6.00M2.54M
- Trust account
- $61.1M · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 275 days later than the previous record.
The clause …“the Company’s public shareholders. F- 10 If the Company does not complete a business combination by September 19, 2026 (assuming full extension), the Company will (i) as promptly as practicable, to cease all operations except for the”…
SpacBrain reads this as 3,464,179 shares are no longer redeemable.
The clause …“as shareholder’s equity. Accordingly, as of December 31, 2025 and 2024, 2,535,821 and 6,000,000 ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’”…
The clause “Description 2024 (Level 1) (Level 2) (Level 3) Assets: U.S. Treasury Securities held in Trust Account $ 61,089,076 $ 61,089,076 $ – $ – · Recent accounting pronouncements Management does not believe that any recently issued, but not yet”…
The clause …“to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern if a business combination is not consummated by September 19, 2026 (assuming full”…
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 8-K Current Report under Item 8.01, disclosing a voluntary capital contribution to extend the SPAC’s business combination period. According to YHN Acquisition I Limited, on March 19, 2026 the Company deposited $150,000 into its trust account. As stated in the filing and attested by Chief Executive Officer Poon Man Ka, Christy, this deposit extends the deadline to complete a business combination from March 19, 2026 to June 19, 2026. Why it matters: This extension mechanically delays any mandatory redemption or liquidation trigger by exactly three months, shifting the active search phase past the original March expiration. The document contains no claims regarding target companies, revenue projections, market positioning, technological assets, commercial partnerships, litigation exposure, or personnel changes beyond the executive sign-off. Per the Company’s own disclosure, the filing serves strictly as a procedural notice of timeline adjustment. Investors should note that no per-share trust valuation was recalculated or re-stated in this filing, and all material assertions regarding the deposit and extended timeline originate solely from YHN Acquisition I Limited.
What changed: SEC Schedule 13G/A beneficial ownership amendment filed by Westchester Capital Management, LLC. This document identifies Westchester Capital Management, LLC as the reporting holder and contains no updates bearing on redemption deadlines, trust value, extension procedures, target acquisition progress, or sponsor conduct. It makes no substantive claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel attributable to management, sponsors, or any other party. Why it matters: As a standard regulatory submission, this filing does not alter the SPAC’s $10.98 per-share trust balance, its 2026-09-19 business combination deadline, or its SEARCHING status. Without new operational disclosures or transactional milestones, investors should continue relying on prior prospectus and proxy materials for redemption parameters, timeline expectations, and potential sponsor actions.
What changed: This document consists of two Limited Powers of Attorney (Exhibit A and Exhibit B) executed by authorized corporate representatives to delegate statutory Form 13G execution, amendment, and filing authority to designated attorneys-in-fact. The provided text contains no updates to YHN Acquisition I Ltd’s redemption mechanics, trust accounting, search deadline, target acquisition trajectory, or sponsor governance. Instead, Hidekatsu Take (Deputy President & Corporate Executive of Mizuho Financial Group, Inc.; Managing Executive Officer of Mizuho Bank, Ltd.) and Adam Hopkins (Chief Legal Officer and Managing Director, General Counsel of Mizuho Americas LLC and Mizuho Securities USA LLC) formally grant Takahiro Katsura (Managing Director, Head of Global Branches & Subsidiaries Coordination Office, Global Corporate Function Coordination Department of Mizuho Financial Group, Inc.) limited power under Section 13(d) and Section 13(g) of the Securities Exchange Act of 1934 to complete, execute, and timely submit Form 13G filings and amendments. Exhibit A catalogues the principal business offices for three affiliated entities, listing “1-5-5, Otemachi, Chiyoda-ku, Tokyo 100-8176, Japan” and “1271 Avenue of the Americas, NY, NY 10020, USA”, with all execution dates recorded as 2-12-2026. Why it matters: Because the instrument functions exclusively as an administrative proxy for U.S. equity ownership reporting compliance, it does not alter shareholder redemption windows, impact the per-share trust valuation, modify the organizational extension timeline, signal target negotiation progress, or reflect shifts in sponsor fiduciary conduct or capital deployment strategy. The delegation merely confirms Mizuho-linked entities maintain standardized regulatory representation capacity for future 13G disclosures, carrying no standalone implication for liquidity events, conversion ratios, or business combination execution.
What changed: A Schedule 13G/A, which is a routine SEC compliance exhibit filed to amend a previously submitted beneficial ownership report when a reporting person’s stake exceeds five percent of a class of equity securities. The provided excerpt identifies W. R. Berkley Corporation and Berkley Insurance Company as the reporting holders but contains no numerical data, percentage shifts, acquisition dates, or stated purposes for acquisition. No movement is reported that impacts YHNA’s redemption deadline mechanics, trust account valuation, extension voting timeline, target search progress, or sponsor fiduciary conduct. Why it matters: Schedule 13G/A amendments maintain the public register of major shareholders once the five percent threshold is crossed or adjusted. The absence of qualitative purpose statements or quantitative delta disclosures in this excerpt indicates passive indexing maintenance rather than activist accumulation or coordinated voting intent ahead of the 2026-09-19 expiration. For SPAC tracking, this filing does not alter redemption expectations, nor does it signal sponsor concessions or trust distribution triggers; investors must await a complete amendment, proxy statement, or business combination announcement to evaluate actual capital commitment or extension mechanics.
What changed: A routine compliance exhibit — specifically a Joint Filing Agreement attached to a Schedule 13G/A, executed under Rule 13d-1(k) of the Securities Exchange Act of 1934. Feis Equities LLC and Lawrence M. Feis executed the agreement on January 30, 2026, consenting to file jointly on behalf of their previously submitted Schedule 13G regarding ordinary shares of YHN Acquisition I Limited. The exhibit introduces no amendments to beneficial ownership thresholds, no new contractual obligations, and no corporate or financing actions. Why it matters: As a procedural regulatory attachment, this agreement does not alter redemption deadlines, shift trust value distributions, activate extension periods, advance deal progress, or reflect changes in sponsor conduct. The text contains zero disclosures regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel; all statements are strictly limited to the signatories’ mutual authorization to utilize the joint filing mechanism for federal securities reporting. Because it addresses only shared regulatory administrative logistics, it bears no material bearing on investor redemption calculus or SPAC operational timelines.
What changed: A Schedule 13G/A amendment reporting beneficial ownership, submitted under filing identification 0001072613-26-000040 by KARPUS MANAGEMENT, INC. The provided text states only the schedule type, filing ID, and reporting entity. It discloses no share counts, ownership percentages, acquisition or disposition dates, or expressions of investment intent. Consequently, it contains no information bearing on trust account value, redemption windows, extension proposals, business combination progress, or sponsor conduct. Why it matters: Because the amendment omits all quantitative holdings and transactional detail, it does not reveal institutional accumulation or distribution that would typically correlate with redemption pressure, extension voting alignment, or sponsor signaling. With no assertions regarding revenue, customers, market positioning, technology, partnerships, litigation, or personnel, the filing does not alter prior assessments of timeline risk or capital preservation expectations.
What changed: Form 8-K Current Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 disclosing the entry into a material definitive agreement. First, this document is a Form 8-K Current Report disclosing the execution of Amendment No. 2 to the Amended and Restated Business Combination Agreement between YHN Acquisition I Limited and Mingde Technology Limited. Second, regarding transaction mechanics, the filing states the parties extended the contractual Outside Closing Date to June 18, 2026. It details prior amendments: the original agreement on April 3, 2025; a Joinder Agreement on May 8, 2025; a restated agreement on June 3, 2025 introducing an earnout; and Amendment No. 1 on November 7, 2025, which per the document shifted the earnout contingency from future revenue performance to post-closing share price performance. The filing provides no updates to redemption windows, trust account distributions, or extension voting procedures, merely stating that proxy materials will be distributed when filed with the SEC. Why it matters: Third, regarding other substance, the registrant includes forward-looking statements warning that actual outcomes could differ materially from projected enterprise values, integration plans, or expected growth estimates. The filing attributes competitive risks to 'larger technology companies that have greater resources, technology, relationships and/or expertise,' and acknowledges a lack of useful financial information for estimating future capital expenditures or revenue until definitive filings are available. The extension to June 18, 2026 alters the final timeline for completing the dual-merger structure, which impacts the period during which shareholders may hold publicly traded securities awaiting a redemption decision. Because the earnout structure now depends entirely on public share price performance rather than operating metrics, the parties have realigned long-term compensation exposure away from commercial milestones. Without revised per-share trust accounting or specific redemption instructions in this submission, the filing primarily serves to synchronize the merger timeline while deferring precise investor liquidation mechanics to subsequent proxy and registration documents.
outside date1 moved
- Outside date
- 2025-12-182026-06-18
SpacBrain reads this as 182 days later than the previous record.
The clause “Section 13.1(d)(i) is amended in its entirety to read as follows: “on or after June 18, 2026 (the “ Outside Date ”), if the Acquisition Merger shall not have been consummated prior to the Outside Date; provided, however, that the right”…
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: A Form 8-K Current Report filed under Item 8.01 Other Events. The filing reports that on December 15, 2025, YHN Acquisition I Limited deposited $150,000 into the Trust Account. According to the registrant, this action extends the time available to complete a business combination from December 19, 2025 to March 19, 2026. The submission was signed by Chief Executive Officer Poon Man Ka, Christy. Why it matters: The extension alters the redemption and liquidation deadline, giving shareholders approximately three additional months before a mandatory vote or dissolution occurs. The deposit demonstrates sponsor commitment to continue searching for a target rather than liquidating immediately, which typically supports maintaining share value near trust levels during the extension period. The document contains no disclosures regarding customer metrics, revenue projections, market size, strategic partnerships, litigation, or personnel changes beyond the executive signatory.
What changed: This document is a Form 8-K Current Report filed by YHN Acquisition I Limited to announce the resolutions, voting outcomes, and executed contractual exhibits from an Annual Meeting of Shareholders conducted on December 8, 2025. Shareholders approved a Charter Amendment and a Trust Amendment, shifting the business combination deadline from December 19, 2025, to September 19, 2026. The filings permit up to three consecutive three-month extension periods, triggered by initial shareholders or their designees wiring $150,000 into the trust account for each installment. Concurrently with the vote, 3,464,179 ordinary shares were tendered for redemption, leaving the trust account with a reported balance of approximately $26,828,358.86. Why it matters: The updated governance documents (Fourth Amended and Restated Memorandum and Articles of Association and the Amendment to the Investment Management Trust Agreement) codify the extended liquidation timeline, redefine the Termination Date, and specify the procedural requirements for extension letters, disbursement notices, and automatic redemption events. The quarterly $150,000 sponsorship deposits signal continued capital demands from insiders ahead of the revised deadline, while the tendering of over 3.4 million shares materially reduces the public float and trust corpus available for a future acquisition. Voting tallies show 3,769,814 shares cast FOR the charter amendment versus 2,729,472 AGAINST, and 3,405,776 FOR the trust amendment versus 3,093,510 AGAINST, highlighting shareholder分歧 on the extension plan. No claims regarding target customers, revenue, market size, or litigation appear in this filing.
What changed: Quarterly report (Form 10-Q) for the period ended September 30, 2025, filed by a blank check company (SPAC) seeking a business combination. Trust account grew to $63.0M (redemption value $10.50/share). Business combination agreement with Mingde Technology amended twice: in June 2025 to $326M + $70M earnout, and in November 2025 (post-quarter) to $280M + $80M earnout based on share price. CEO replaced in July 2025. Working capital deficit rose to $299K. Company raised $350K from sponsor during the quarter. Formation costs $894K for nine months. Net income $1.04M from trust dividends. Why it matters: The filing updates the SPAC's financial health and deal progress. The reduced merger consideration ($280M vs original $396M) may indicate renegotiation pressures. Trust value per share ($10.50) provides a redemption floor. The December 18, 2025 deadline and going concern disclosure highlight urgency. Changes in management and sponsor advances signal ongoing operational activity.
What changed vs 2025-07-31trust $62.4M → $63.0M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $62.4M$63.0M
- Combination deadline
- 2025-12-18 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 6.00M · unchanged
SpacBrain reads this as $651,633 was added to the trust between the two filings.
The clause “Description 2025 (Level 1) (Level 2) (Level 3) Assets: U.S. Treasury Securities held in Trust Account $ 63,023,976 $ 63,023,976 $ – $ – December 31, Quoted Prices In Active Markets Significant Other Observable Inputs Significant Other”…
The clause …“doubt about the Company’s ability to continue as a going concern if a business combination is not consummated by December 18, 2025. These unaudited condensed financial statements do not include any adjustments relating to the”…
The clause …“to it on commercially acceptable terms if at all. These conditions raise substantial doubt about the ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments”…
The clause …“equity. Accordingly, as of September 30, 2025 and December 31, 2024, 6,000,000 and 6,000,000 ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’”…
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 definitive proxy statement (DEF 14A) filed pursuant to Schedule 14A under the Securities Exchange Act of 1934. It functions as the official solicitation instrument convening the Annual General Meeting of Shareholders on December 8, 2025 to vote on proposed constitutional amendments and routine corporate motions. After identifying the document, the filing introduces mechanics governing redemption deadlines, trust value, extensions, deal progress, and sponsor conduct. Chief Executive Officer Poon Man Ka, Christy writes that the Board proposes a Charter Amendment and a Trust Amendment to grant the Company discretion to extend the business combination deadline three times for three additional months each, moving the Current Termination Date from December 19, 2025 to the Extended Termination Date of September 19, 2026. The filings specify that each extension requires an Extension Payment of $150,000 deposited into the Trust Account, which insiders or their affiliates will fund as non-interest bearing loans repayable solely upon consummation. Management discloses that as of November 12, 2025, the Trust Account held approximately $63,307,130.36, and management calculates that the estimated per share redemption price based on those funds would have been approximately $10.55. Public shareholders must submit written redemption requests and deliver public shares to Continental Stock Transfer & Trust Company by 5:00 p.m. Eastern time on December 4, 2025. Regarding deal progress, the proxy statement records that on April 3, 2025, the Company entered into a Business Combination Agreement with Mingde Technology Limited. Concerning sponsor conduct, the Company’s related party transaction disclosure details an administrative services agreement effective April 12, 2024 that charges $10,000 per month to a Sponsor affiliate, generating $60,000 in fees for the six months ended June 30, 2025 and $30,000 for the year ended December 31, 2024. The Company further reports issuing an unsecured promissory note to the Sponsor on April 12, 2024 for up to $500,000, repaying $281,663 by December 31, 2024, maintaining a temporary advance balance of $226,059 as of June 30, 2025, and carrying $36,059 in unpaid reimbursable out-of-pocket expenses as of June 30, 2025. Why it matters: Continuing the required sequence, the filing presents other substantive elements that affect capital allocation and strategic execution. The proposed amendments permanently alter the redemption timeline and preserve trust integrity during extensions, but failure to approve the measures or close the Mingde Technology Limited transaction by September 19, 2026 triggers automatic dissolution and pro-rata trust distribution. Strategic risk disclosures attribute the Company’s target pool limitations to U.S. foreign investment frameworks, noting that Pui Chun Wong exercises 100% voting power in YHN Partners I Limited, which exposes future combinations to potential CFIUS intervention or foreign ownership caps that could block or delay closings. Governance personnel disclosures confirm that independent directors Zhengming Feng, Donghui Xu, and Min Zhang collectively chair the Audit Committee, Compensation Committee, and Corporate Governance and Nominating Committee, consolidating oversight responsibilities. Management simultaneously warns that because substantially all trust assets reside in money market funds invested primarily in U.S. Treasury Bills, prolonged extension periods increase the probability that regulators will classify the Company as an unregistered investment company under the Investment Company Act of 1940, a designation that would force abandonment of the business combination and trigger accelerated liquidation.
What changed: This document is a Joint Filing Agreement executed by Feis Equities LLC (through Managing Member Lawrence M. Feis) and Lawrence M. Feis to file a combined Schedule 13G—and any associated Schedule 13D amendments—on behalf of both signatories pursuant to Rule 13d-1(k) under the Securities Exchange Act of 1934. The filing reports zero adjustments to redemption deadlines, trust value, extension timelines, deal progression, or sponsor conduct. It solely acknowledges the existence of a Schedule 13G with respect to ordinary shares of YHN Acquisition I Limited dated November 10, 2025, and formalizes joint signature and submission logistics. Why it matters: No substantive claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel are presented or attributed to any party. The text contains only standard regulatory boilerplate confirming procedural compliance under Rule 13d-1(k), classifying it as a routine administrative exhibit without investment-impacting disclosures.
What changed: A Form 8-K Current Report disclosing Amendment No. 1 to the Amended and Restated Business Combination Agreement between YHN Acquisition I Limited and Mingde Technology Limited. Per Item 1.01 and Exhibit 10.1, the parties materially altered the merger consideration structure. The initial merger consideration was reduced to Two Hundred Million Dollars ($200,000,000), payable in Twenty Million (20,000,000) newly issued PubCo Ordinary Shares valued at $10.00 per share, comprising Nineteen Million (19,000,000) Closing Payment Shares and One Million (1,000,000) Holdback Shares (previously reported as up to $326,000,000 upfront with 1,630,000 holdback shares). The maximum contingent earnout consideration was raised to Eighty Million Dollars ($80,000,000), payable in up to Eight Million (8,000,000) Earnout Shares, up from a prior cap of $70,000,000. Crucially, the contingency trigger switched from meeting specified FY2026 and FY2027 revenue targets to three stock price milestones measured over a three-year Earnout Period: 3,000,000 shares payable upon the Trading Market closing price reaching or exceeding a bid price of $15.00 per share for 60 consecutive trading days; a second tranche of 3,000,000 shares upon reaching $20.00 for 60 consecutive trading days; and a final tranche of 2,000,000 shares upon reaching $25.00 for 60 consecutive trading days. Annex A details the 50,000,000 pre-merger shareholders receiving pro rata allocations based on percentages such as Following wind Limited at 58.00%. Why it matters: This restructuring significantly shifts the deal's risk/reward profile and dilution mechanics for SPAC shareholders. By lowering the guaranteed upfront valuation from the previously disclosed $326,000,000 to $200,000,000, the deal implies a more conservative immediate valuation for the target while retaining the potential to reach $280,000,000 through equity-based earnouts. The pivot from revenue-based to price-based earnout triggers aligns the target's founders with supporting the surviving company's stock price post-combination, which may reduce selling pressure near or below the existing $10.98 trust/share floor. However, achieving $15.00, $20.00, or $25.00 requires substantial market appreciation within three years, meaning the full $80,000,000 earnout carries high execution risk. For redemption analysis, the amended terms mean fewer shares are locked in immediately, but the pathway to max payout is now entirely dependent on public market performance rather than private company revenue delivery. As stated in the filing, the aggregate maximum total Merger Consideration is Two Hundred Eighty Million Dollars ($280,000,000).
What changed: Preliminary proxy statement (PRE 14A) for an annual general meeting of shareholders proposing amendments to the charter and trust agreement to extend the business combination period, alongside administrative service disclosures, security ownership data, and governance updates. The filing proposes extending the deadline to consummate a business combination from December 19, 2025 to September 19, 2026 via three consecutive three-month extensions. Each extension mandates a deposit of $150,000 into the trust account. Management states that after consulting with YHN Partners I Limited, insiders or their affiliates will fund each $150,000 as an interest-free loan repayable upon consummation of a business combination or forgiven upon liquidation except to the extent of any funds held outside the trust. The proxy stipulates that neither the charter nor the trust amendment will proceed if share redemptions would cause net tangible assets to fall below $5,000,001. Record dates, the trust balance (stated only as approximately $[ ] million), and the annual meeting date remain unconfirmed placeholders marked [ ], 2025. Why it matters: The extension framework replaces the imminent December 19, 2025 dissolution risk with a structured pathway to September 19, 2026, contingent on predictable $150,000 quarterly contributions that preserve remaining trust value. The sponsor loan structure signals insider commitment while creating a repayment obligation if the transaction closes. The $5,000,001 net tangible asset floor effectively caps the volume of shares that may be redeemed alongside the extension vote, forcing shareholders to compare open-market liquidity against the pro rata trust distribution. A dedicated section confirms the company executed a business combination agreement with Mingde Technology Limited on April 3, 2025, anchoring the SEARCHING status to a specific target. Management separately discloses foreign investment restrictions including CFIUS review, potential Investment Company Act classification risks, and a clawback policy adopted in July 2024. Redemption demands require written submission prior to 5:00 p.m. Eastern time two business days before the meeting, with physical or DTC electronic delivery required at least two business days in advance.
What changed: Form 8-K reporting the execution of an Indemnification Agreement, a Joinder Agreement to the Stock Escrow Agreement, and an Insider Letter Agreement following the resignation of Chief Executive Officer Mr. Satoshi Tominaga and his replacement by Ms. Poon Man Ka, Christy. The Board appointed Ms. Poon Man Ka, Christy as Chief Executive Officer and a director effective July 11, 2025. In connection with the transition, Mr. Tominaga transferred 15,000 ordinary shares to the sponsor, YHN Partners I Limited, which then transferred them to Ms. Poon for a total of $214.29 per transaction. Executed on October 10, 2025, these agreements bind Ms. Poon to the company’s original insider obligations: she joined the Stock Escrow Agreement (dated September 17, 2024), signed the Insider Letter waiving all redemption rights for her insider shares, agreed to vote in favor of any proposed business combination, committed to liquidate the trust fund and dissolve the company within 15 months of the IPO closing if no combination occurs, and waived any claims against the trust account under her indemnification agreement. Why it matters: This filing confirms that insider equity and governance commitments were successfully transferred to the new CEO without altering the fundamental SPAC structure. By signing the Insider Letter, Ms. Poon contractually forfeits redemption rights for her holdings and accepts a strict 15-month deadline to either complete a business combination or trigger liquidation of the trust fund for public shareholders. The documented $214.29 per-transaction share transfer and escrow joinder verify continued sponsor lock-up compliance, while the explicit waiver of trust-account claims in the indemnification agreement limits potential insider recourse to post-combination entity funds or non-trust corporate assets, preserving the trust balance solely for public shareholder redemption or dissolution scenarios.
What changed: Form 3 insider ownership report. This filing is a Form 3 insider ownership report. According to the report, Poon Man Ka, listed as Chief Executive Officer and a 10% owner, holds 15,000 shares directly. The document makes no statements regarding the $10.98 trust share value, the 2026-09-19 search deadline, any extension requests, acquisition target development, or sponsor governance alterations. Why it matters: Form 3 submissions are statutory initial-position disclosures and do not reflect secondary market trading. The disclosed 15,000-share holding confirms founder alignment but does not shift the SPAC’s operational calendar, influence the 2026-09-19 redemption horizon, or change the $10.98 per share trust balance. Because the report attributes no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or further personnel actions, it offers no substantive signal for investors monitoring redemption mechanics or deal progress.
What changed: SEC Form 4 insider ownership report filed by YHN Acquisition I Ltd on 2025-09-30. The filing reports that Tominaga Satoshi, identified as Former CEO and Director, disposed of 15,000 shares via an open-market sale on 2025-08-01 at $214.29 per share, resulting in post-transaction ownership of 15,000 shares. According to the Form 4, YHN Acquisition I Ltd remains in SEARCH status, carries a trust value of $10.98 per share, and faces a business combination deadline of 2026-09-19. Why it matters: Per the filing, insider distribution by a former chief executive adjusts sponsor conduct metrics ahead of the 2026-09-19 redemption window. The documented trade price of $214.29 sits beside the stated trust value of $10.98, showing secondary market valuation exceeded net trust at the time of the transaction. The document discloses no target pipeline updates, customer assertions, revenue statements, technology roadmaps, strategic partnerships, or material litigation. Investors should monitor remaining insider positions as the deadline approaches, though this Form 4 neither modifies the redemption calendar, triggers an extension, nor changes the current trust composition.
What changed: Schedule 13G (beneficial ownership report). Per the filing text, RIVERNORTH CAPITAL MANAGEMENT, LLC submitted a Schedule 13G to disclose its beneficial ownership interest. The excerpt does not address redemption mechanics, trust account adjustments, amendment proposals for the combination deadline, target due diligence or transaction progress, or sponsor governance conduct. Why it matters: This routine compliance submission tracks institutional shareholdings without offering substantive disclosures on customer contracts, revenue streams, market sizing, strategic direction, technology development, partnership arrangements, litigation status, or personnel appointments. It does not modify the operating parameters governing shareholder redemptions or the timeline applicable to the SPAC search period.
What changed: A routine compliance exhibit attached to a Schedule 13G/A amendment—specifically, a Limited Power of Attorney executed by Mizuho Financial Group, Inc. and its subsidiaries to authorize Takahiro Katsura to file Form 13G disclosures under Sections 13(d) and 13(g) of the Exchange Act. The filing contains no updates regarding YHNA’s redemption schedule, trust composition, merger deadline, extension procedures, acquisition pipeline, or sponsor conduct. As a mechanical compliance attachment, it simply establishes internal signing authority. Mizuho Financial Group, Inc. designates Takahiro Katsura, Managing Director, Head of Global Branches & Subsidiaries Coordination Office, as attorney-in-fact to prepare, execute, amend, supplement, and timely submit Form 13G filings with the SEC. Exhibit A lists Mizuho Bank, Ltd.’s principal office at 1-5-5, Otemachi, Chiyoda-ku, Tokyo 100-8176, Japan, categorized by the filer as a non-U.S. institution equivalent to Bank. Exhibit B lists Mizuho Americas LLC and Mizuho Securities USA LLC at 1271 Avenue of the Americas, NY, NY 10020, USA, classified by the filer as a parent holding company and a registered Broker-Dealer. The instrument was dated 8-13-2025 and signed by Hidekatsu Take (Deputy President & Corporate Executive Officer and Managing Executive Officer, Head of Global Corporate & Investment Banking Division) and Adam Hopkins (Chief Legal Officer and Managing Director, General Counsel for the U.S. entities). Why it matters: Investors monitoring trust value, redemption triggers, extension voting, deal advancement, or sponsor fiduciary behavior will find this document substantively inert regarding those variables. The filer makes zero representations about customer concentration, revenue metrics, addressable markets, technological IP, strategic partnerships, pending litigation, or executive turnover related to the SPAC or its prospects. The exhibit solely confirms that Mizuho-affiliated entities have formalized a delegation for ongoing Section 13 regulatory reporting, which does not intersect with shareholder liquidity rights, capital preservation mandates, or the statutory timeframe available to complete a business combination.
What changed: A Schedule 13G/A regulatory filing identifying beneficial ownership disclosures by W. R. Berkley Corporation and Berkley Insurance Company. The filing reports an update or amendment to previously disclosed equity holdings in YHN Acquisition I Ltd. It contains no adjustments to the September 19, 2026 business combination deadline, the reported $10.98 per share trust value, extension mechanisms, target search status, or sponsor governance/conduct. Why it matters: For shareholders monitoring redemption windows, trust accretion, or deal execution timelines, this filing provides no operational leverage or warning signal. It is a standard securities holding update; without attached pages detailing voting power thresholds, investment intent statements, or underlying block trades, it cannot be interpreted as presaging a merger announcement, activist campaign, or structural change requiring redemption action.
What changed: Quarterly Report (Form 10-Q) for the period ended June 30, 2025. Company management disclosed that on April 3, 2025, it entered into a definitive Business Combination Agreement with Mingde Technology Limited, a Cayman Islands holding company whose subsidiary operates online sports platforms and provides technological solutions for health product stores. The agreement was amended on June 3, 2025, to add an earnout mechanism. Aggregate consideration is $326,000,000 plus up to $70,000,000 in contingent earnout shares. Trust account value grew to $62,372,343 ($10.40 per share) from $61,089,076 ($10.18 per share) at December 31, 2024, due to dividend and interest income. The company reported cash of $47,849, a working capital deficit of $166,039, and management identified substantial doubt about the company's ability to continue as a going concern if a business combination is not completed by December 18, 2025. Why it matters: This is the first filing containing the definitive deal terms and the target's business description since the letter of intent. Investors tracking the redemption deadline should note the trust per-share value of $10.40, the $1.5 million deferred underwriting fee, and the tight cash position. The filing states the combination period ends December 18, 2025, not the user-supplied date of 2026-09-19. The earnout structure and share issuance percentages are also new.
What changed vs 2025-05-12trust $61.7M → $62.4M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $61.7M$62.4M
- Combination deadline
- 2025-12-18 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 6.00M · unchanged
SpacBrain reads this as $643,564 was added to the trust between the two filings.
The clause “Description 2025 (Level 1) (Level 2) (Level 3) Assets: U.S. Treasury Securities held in Trust Account $ 62,372,343 $ 62,372,343 $ – $ – December 31, Quoted Prices In Active Markets Significant Other Observable Inputs Significant Other”…
The clause …“doubt about the Company’s ability to continue as a going concern if a business combination is not consummated by December 18, 2025. These unaudited condensed consolidated financial statements do not include any adjustments”…
The clause …“to it on commercially acceptable terms if at all. These conditions raise substantial doubt about the ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments”…
The clause …“shareholders’ equity. Accordingly, as of June 30, 2025 and December 31, 2024, 6,000,000 and 6,000,000 ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’”…
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 8-K Current Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 reporting officer departures and appointments under Item 5.02. The registrant disclosed that Mr. Satoshi Tominaga resigned from his positions as Chief Executive Officer and a director effective July 11, 2025. The Board simultaneously appointed Ms. Poon Man Ka, Christy as the new Chief Executive Officer and a director, also effective July 11, 2025. The report was executed by Chief Financial Officer Yangyujia An on July 14, 2025. Why it matters: As YHN Acquisition I Ltd remains in SEARCHING status, this leadership transition alters the executive team responsible for sourcing and closing a business combination. According to the filing, Ms. Poon brings experience in mergers & acquisitions, US public listing advisory, corporate reorganization, fundraising, and over fifteen years of operational management beginning in February 2019. The registrant explicitly states that Mr. Tominaga’s departure was not caused by any disagreement relating to operations, policies, or practices. This submission reports zero amendments to the redemption calendar, trust mechanics, extension provisions, or sponsor conduct thresholds, leaving existing shareholder rights and the trust value of $10.98 per share unchanged relative to the September 19, 2026 deadline.
What changed: 8-K filed June 5, 2025 reporting entry into an Amended and Restated Business Combination Agreement (June 3, 2025) between SPAC YHN Acquisition I Ltd (YHNA) and Mingde Technology Limited, amending the original April 3, 2025 agreement to add an earnout mechanism. The original Business Combination Agreement provided $326 million fixed consideration in shares (32.6 million shares at $10.00). The amended and restated agreement adds a contingent earnout of up to $70 million (up to 7 million additional shares at $10.00) based on revenue performance in FY2026 and FY2027. Earnout targets: FY2026 baseline $30.6M, stretch $38.3M; FY2027 baseline $56.3M, stretch $70.4M. The restated agreement also updates the parties (including Purchaser and Merger Sub as joinders) and other standard terms; the total maximum possible consideration becomes $396 million. The SPAC trust had at least $61,672,472 as of March 24, 2025. A PIPE investment of >$10M at >=$9.00/share is required. The Outside Date for closing is December 18, 2025. Why it matters: This filing provides the definitive terms for YHNA's proposed business combination with Mingde, including the new earnout structure that could significantly increase deal consideration and dilution for public shareholders. Shareholders evaluating redemption before the September 19, 2026 deadline now have a clearer picture of the deal economics, the performance targets for earnouts, and the sponsor's commitment (via a support agreement). The trust value ($10.98/share) exceeds the $10.00 per share consideration floor, providing context for redemption decisions.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2025-12-18 · unchanged
The clause …“cured; 65 (d) by either the Company or any Purchaser Party: (i) on or after December 18, 2025 (the “ Outside Date ”), if the Acquisition Merger shall not have been consummated prior to the Outside Date; provided, however, that the”…
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 filed by Westchester Capital Management, LLC. The filing discloses a change in beneficial ownership that crosses the SEC’s five percent reporting threshold, but contains no updates regarding redemption deadlines, trust value, extension provisions, target acquisition progress, or sponsor conduct. Why it matters: As a routine passive disclosure under Section 13(g), the filing does not alter voting arrangements, trigger liquidation timelines, or signal active deal pursuit. No claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel were presented in the submitted text, meaning the document provides no substantive operational or financial updates for investors tracking capital preservation or combination timelines.
What changed: Schedule 13G/A — beneficial ownership report. Mizuho Financial Group, Inc. submitted an amended beneficial ownership filing; the provided excerpt identifies the reporting holder and form type but discloses no share quantities, ownership percentages, acquisition dates, amendment triggers, or prior disclosure baselines. Why it matters: Under SEC disclosure rules, a 13G/A tracks changes in institutional beneficial interest above statutory thresholds. Because the text supplies neither the updated stake, the effective date of change, nor the stated purpose, the filing conveys no actionable signal regarding YHN Acquisition I Ltd’s search timeline, trust account integrity, 2026-09-19 redemption/liquidation deadline, extension votes, target identification progress, or sponsor governance. The document contains no substantive claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel.
What changed: Unaudited condensed consolidated interim financial statements (Form 10-Q) for YHN Acquisition I Limited for the quarterly period ended March 31, 2025, filed May 12, 2025. Trust account value per share increased from $10.18 at December 31, 2024 to $10.29 at March 31, 2025 due to dividend/interest income of $639,703. The SPAC reported net income of $547,299 for the quarter vs. a net loss of $25,346 in the prior‑year period. On April 3, 2025, after quarter‑end, the SPAC signed a definitive Business Combination Agreement with Mingde Technology Limited at a $396 million enterprise value, superseding a January 2025 letter of intent. Sponsor advances increased to $96,059 from $60,059 at year‑end. The company reiterated a going‑concern risk if the business combination is not completed by the December 18, 2025 deadline. Why it matters: Trust value per share is $10.29, below the prompt’s stated $10.98 – investors should use the filing’s $10.29 for redemption calculations. The December 18, 2025 deadline is fixed; the SPAC has ~7 months to close the Mingde deal. The definitive agreement provides a concrete valuation anchor ($396 million) and share exchange ratio (39.6 million shares at $10.00 per share), giving shareholders a basis to evaluate the pending merger. The company’s disclosure that it has not filed all required reports over the trailing 12 months and its going‑concern warning underscore execution risk. Sponsor advances and insider trading disclosures remain routine, with no red flags.
What changed vs 2024-11-04trust $60.4M → $61.7M +2%deadline 2025-12-19 → 2025-12-18trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $60.4M$61.7M
- Combination deadline
- 2025-12-192025-12-18
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 6.00M · unchanged
SpacBrain reads this as $1,339,443 was added to the trust between the two filings.
The clause “Description 2025 (Level 1) (Level 2) (Level 3) Assets: U.S. Treasury Securities held in Trust Account $ 61,728,779 $ 61,728,779 $ - $ - December 31, Quoted Prices In Active Markets Significant Other Observable Inputs Significant Other”…
SpacBrain reads this as 1 days earlier than the previous record.
The clause …“doubt about the Company’s ability to continue as a going concern if a business combination is not consummated by December 18, 2025. These unaudited condensed financial statements do not include any adjustments relating to the”…
The clause …“to it on commercially acceptable terms if at all. These conditions raises substantial doubt about the ability to continue as a going concern. The unaudited condensed financial statements do not include any adjustments that might”…
The clause …“equity. Accordingly, as of March 31, 2025 and December 31, 2024, 6,000,000 and 6,000,000 ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’”…
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: SEC Form 8-K Current Report disclosing the execution of a Joinder Agreement to a previously disclosed Business Combination Agreement. On May 8, 2025, YHN Acquisition I Limited (Parent) and Mingde Technology Limited (Company) secured signatures on a Joinder Agreement from their respective transaction vehicles: YHNA MS I LIMITED (Purchaser) and YHNA MS II LIMITED (Merger Sub). By executing this exhibit, the subsidiaries became legally bound to the April 3, 2025 Business Combination Agreement, completing a standard structural prerequisite for the planned Reincorporation Merger and Acquisition Merger pathway that will result in a Nasdaq-listed combined company. Why it matters: This filing does not amend the redemption calendar, extend the deadline, or adjust the trust account balance. It confirms mechanical progression toward closing while reiterating the registrant's explicit caution that there is currently a 'lack of useful financial information for an accurate estimate of future capital expenditures and future revenue.' The company identifies 'statements regarding Mingde’s industry and market size,' 'anticipated initial enterprise value,' 'potential level of redemptions,' and 'competition from larger companies' as forward-looking assertions subject to material uncertainty. Personnel identified in the execution block include CEO Satoshi Tominaga (Parent), Director Liu Lirong (Company), and Director Yangyujia An (both Purchaser and Merger Sub). Until the definitive proxy statement and registration statement are filed, redemption mechanics, pro forma valuation, and revenue projections remain unverified, making this filing a procedural checkpoint rather than a financial update for trust-value or vote-weight modeling.
What changed: A Schedule 13G filing accompanied by Exhibit 99.2, an Agreement of Reporting Persons, which functions as a routine securities compliance instrument to coordinate and acknowledge joint beneficial ownership disclosures. This filing contains no updates to redemption windows, trust share valuation, extension voting procedures, business combination progress, or sponsor conduct. It exclusively documents that W. R. Berkley Corporation and Berkley Insurance Company have executed an agreement to file subsequent Schedule 13G amendments together, with each party accepting independent responsibility for the completeness and accuracy of its own reported data. Why it matters: For investors tracking capital composition ahead of the September 19, 2026 search deadline, the filing confirms the ongoing presence of institutional holders without disclosing specific ownership percentages or voting arrangements in this excerpt. Because Schedule 13G disclosures apply to beneficial ownership exceeding five percent, the filing flags these entities as established public shareholders who may participate in future extension proposals or merger approvals, though the exhibit itself provides no evidence of coordinated action or special rights. Richard M. Baio, Executive Vice President and Chief Financial Officer of W. R. Berkley Corporation, and Executive Vice President and Treasurer of Berkley Insurance Company, solely attest to the administrative coordination of this regulatory submission. Absent amended percentage tables, voting trusts, or conversion rate modifications, the filing operates as a baseline cap-table record rather than a mechanical driver for redemptions or trust distributions.
What changed: An 8-K (Item 1.01) filed April 4, 2025 announcing that YHN Acquisition I Limited entered into a definitive Business Combination Agreement dated April 3, 2025 with Mingde Technology Limited, and attaching the BCA, Company Shareholders Support Agreement, Sponsor Support Agreement, form of Lock-Up Agreement, and form of Employment Agreement. YHN moved from searching to a definitive business combination with Mingde. Under the BCA, Parent will reincorporate into a newly formed Cayman Purchaser, Merger Sub will merge into Mingde, and Mingde will become a wholly owned subsidiary of the listed Purchaser. The Merger Consideration is $396,000,000, paid as 39,600,000 Purchaser Ordinary Shares valued at $10.00 each, consisting of 37,620,000 Closing Payment Shares and 1,980,000 Holdback Shares. The Outside Date is December 18, 2025. Closing conditions include effectiveness of an F-4 registration statement, YHNA shareholder approval, Mingde shareholder approval, CSRC filing and other governmental approvals, HSR waiting period expiration, and Nasdaq listing. Purchaser must file the F-4 by May 16, 2025; Purchaser Parties may terminate if audited or unaudited financial statements are not delivered by April 30, 2025. The agreement provides for no termination fees. The Company is to use commercially reasonable efforts to obtain a PIPE exceeding $10,000,000 at a price per share not less than $9.00. Sponsor YHN Partners I Limited, holding 1,625,000 Parent Ordinary Shares, and certain Mingde shareholders holding 31,650,000 Company Ordinary Shares, approximately 63.3%, signed support agreements to vote in favor. Why it matters: This filing sets the deal economics and calendar for YHNA shareholders. It confirms the target, valuation, consideration structure, support agreements, and the key dates and conditions that determine whether a closing occurs before the Outside Date. Shareholders will get redemption rights in connection with the Parent Special Meeting, and the trust fund is represented to be at least $61,672,472 as of March 24, 2025. The no-termination-fee structure and the early termination right tied to the April 30, 2025 financial statement deadline are relevant to deal risk. The BCA also describes Mingde's business as operating online sports platforms and providing technological solutions for health product stores, with a VIE structure over Zhejiang Xiaojianren, and the closing is conditioned in part on a CSRC filing.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2025-12-18
SpacBrain reads this as the agreement may be terminated from 2025-12-18.
The clause …“been cured; (d) by either the Company or any Purchaser Party: (i) on or after December 18, 2025 (the “ Outside Date ”), if the Acquisition Merger shall not have been consummated prior to the Outside Date; provided, however, that the”…
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: Current Report on Form 8-K filed under Rule 425, announcing the entry into a definitive Business Combination Agreement between YHN Acquisition I Limited (SPAC) and Mingde Technology Limited, along with full text of the BCA, Shareholder Support Agreement, Sponsor Support Agreement, forms of Lock-Up Agreement and Employment Agreement. YHN Acquisition I Ltd (YHNA) has signed a definitive Business Combination Agreement with Mingde Technology Limited, a Cayman Islands company operating online sports platforms and health product store technology solutions, with a pre-money equity value of $396 million (39.6 million Purchaser Ordinary Shares at $10.00 per share). The SPAC will reincorporate from BVI to Cayman Islands, then merge with Mingde. Sponsor (YHN Partners I Limited) agreed to vote in favor and waive redemption. A PIPE investment of at least $10 million at not less than $9.00 per share is targeted. Trust value as of March 24, 2025 was at least $61.67 million. Outside Date for closing is December 18, 2025. No termination fees. Holdback shares of 1.98 million for 18 months for indemnification. Why it matters: This filing definitively changes YHNA from a searching SPAC to one with a signed merger target, setting the terms for the business combination. The $396 million enterprise value, the $10.98 trust per share, and the requirement for audited financials by April 30, 2025, provide critical data for redemption and valuation decisions. The sponsor's commitment not to redeem and the PIPE target reduce the risk of insufficient trust proceeds. The deal is subject to shareholder approval, SEC effectiveness, CSRC filings, and other conditions. The agreement includes a no-shop clause and potential termination if financials are not delivered by April 30, 2025.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2025-12-18 · unchanged
The clause …“been cured; (d) by either the Company or any Purchaser Party: (i) on or after December 18, 2025 (the “ Outside Date ”), if the Acquisition Merger shall not have been consummated prior to the Outside Date; provided, however, that the”…
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.
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.