BACC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-11

• On May 6, 2026, we entered into the Blockfusion BCA Second Amendment with (i) Blockfusion, (ii) Pubco and (iii) the Merger Subs, which amends the Blockfusion BCA to: (i) increase the post-Closing incentive plan from eight percent (8%) of the aggregate number of shares of Pubco Common Stock issued an…

• On June 30, 2026, we entered into the Blockfusion BCA Third Amendment with (i) Blockfusion, (ii) Pubco and (iii) the Merger Subs, which amends the Blockfusion BCA to: (i) add an earnout provision for the potential issuance of up to an aggregate maximum amount of 9,250,000 Pubco Class A Shares to cer…

• On July 31, 2026, we entered into the Blockfusion BCA Forth Amendment with (i) Blockfusion, (ii) Pubco and (iii) the Merger Subs, which amends the Blockfusion BCA to extend the Outside Date.

• We generated net income of $2,054,605 for the six months ended June 30, 2026. Net income is comprised of $3,644,428 income earned on cash and marketable securities held in the Trust Account and $7,834 interest income on the operating account, offset by $98,115 formation, general and administrative e…

• We generated net income of $245,414 for the three months ended June 30, 2025. Net income is comprised of $321,137 income earned on cash and marketable securities held in the Trust Account and $709 interest income on the operating account, offset by $53,824 formation, general and administrative expen…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• On May 6, 2026, we entered into the Blockfusion BCA Second Amendment with (i) Blockfusion, (ii) Pubco and (iii) the Merger Subs, which amends the Blockfusion BCA to: (i) increase the post-Closing incentive plan from eight percent (8%) of the aggregate number of shares of Pubco Common Stock issued an…

• We had net loss of $61,786 for the period from February 10, 2025 (inception) through March 31, 2025. Net loss was comprised of $61,816 formation, general and administrative expenses, offset by $30 interest income on the operating account.

• Our liquidity needs through March 31, 2026 have been satisfied through (i) a contribution of $25,000 from the Sponsor in exchange for the issuance of our Founder Shares, (ii) a loan pursuant to the IPO Promissory Note, and (iii) the net proceeds from the consummation of the Initial Public Offering a…

• Prior to the closing of our Initial Public Offering, our Sponsor agreed to loan us an aggregate of up to $300,000 under the IPO Promissory Note to cover expenses related to the Initial Public Offering. Such loans and advances were non-interest bearing and payable on the earlier of December 31, 2025,…

• Commencing on June 13, 2025, and until the completion of our Business Combination or liquidation, we reimburse BHM, the managing member of the Sponsor $5,000 per month for office space, utilities, and secretarial and administrative support pursuant to the Administrative Services Agreement. For the t…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• Our search for an initial Business Combination, and any target business with which we may ultimately consummate an initial Business Combination, may be materially adversely affected by current global geopolitical conditions and armed conflicts between Ukraine and Russia and in the Middle East betwee…

• Our ability to find a potential target business and the business of any company with which we may consummate a Business Combination could be materially and adversely affected by events that are outside of our control. For example, United States and global markets have experienced and may continue to…

• The invasion of Ukraine by Russia and the escalation of the conflict involving the United States, Israel and Iran and others in the Middle East and Southwest Asia and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the Eu…

• Similarly, other events outside of our control, including natural disasters, climate-related events and pandemic or health crises (such as the COVID-19 pandemic) may arise from time to time, and any such events may cause significant volatility and declines in the global markets and have disproportio…

• Any of the abovementioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the escalation of the conflict involving the United States, Israel and Iran and others in the Middle East and Southw…

Text added vs the prior filing · source: 10-Q · 2026-08-11

• On June 9, 2026, Ketan Seth resigned as Chief Executive Officer and a director of our Company, effective immediately. His resignation was for family reasons and was not due to any disagreement with our Company. On the same day, the Board of Directors appointed David Bauer, our current Chief Financia…