FERAU — what changed in the latest 10-Q
A section-by-section comparison of FERAU's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-15 vs the prior 10-Q · 2025-11-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −5 | ~25 | 5 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | Some risk factors updated | +63 | 0 | ~1 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-15
On March 3, 2025, we consummated our IPO of 23,000,000 Public Units, including the full exercise of the Over-Allotment Option of 3,000,000 Option Units. Each Public Unit consists of one Public Share and one Public Right (right to receive one-tenth of one Class A Ordinary Share upon the consummation …
Following the IPO, including the full exercise of the Over-Allotment Option, and the Private Placement, we placed a total of $230,000,000 in the Trust Account. We incurred fees of $15,557,879, consisting of a $4,000,000 cash underwriting fee, a deferred underwriting fee of $10,950,000 and $607,879 o…
For the three months ended March 31, 2026, cash used in operating activities was $173,174. Net income of $1,291,701 was affected by interest earned on marketable securities held in the Trust Account of $2,091,443. Changes in operating assets and liabilities provided $626,568 of cash for operating ac…
As of March 31, 2026, we had marketable securities held in the Trust Account of $239,946,351 (including $9,946,351 of interest income). We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amoun…
On March 17, 2026, Gary Cookhorn resigned as a director of our board of directors, effective immediately. Mr. Cookhorn’s resignation did not result from any disagreement with the Company on any matter relating to our operations, policies or practices.
Text removed vs the prior filing · source: 10-Q · 2025-11-12
Our IPO Registration Statement became effective on February 27, 2025. On March 3, 2025, we consummated our Initial Public Offering of 23,000,000 Public Units, including 3,000,000 Option Units issued pursuant to the full exercise of the Over-Allotment Option. Each Public Unit consists of one Public S…
For the period from May 22, 2024 (inception) through September 30, 2024, we had a net loss of $54,604 which primarily consist of operating costs.
Following the Initial Public Offering, including the full exercise of the Over-Allotment Option, and the Private Placement, a total of $230,000,000 was initially placed in the Trust Account. We incurred fees of $15,557,879, consisting of $4,000,000 of cash underwriting fee, the Deferred Underwriting…
For the period from May 22, 2024 (inception) through September 30, 2024, cash used in operating activities was $0. Net loss of $54,604 was affected by payment of operation costs through the IPO Promissory Note of $41,419 and formation costs applied to prepaid expenses contributed by the Sponsor thro…
As of September 30, 2025, we had marketable securities held in the Trust Account of approximately $235,582,297 (including approximately $5,582,297 of interest income). We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Tr…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-05-15
Risks Related to the Miotal Business Combination and the Company
●If the conditions to Closing (as defined in the Miotal Business Combination Agreement) in the Miotal Business Combination Agreement are not met, the Miotal Business Combination may not occur.
●The Sponsor has entered into support agreements with us to vote in favor of the Miotal Business Combination.
●Neither our board of directors nor any committee thereof obtained a third-party valuation in determining whether or not to pursue the Miotal Business Combination.
●There are risks to Company shareholders becoming shareholders of Holdco through the Miotal Business Combination rather than acquiring securities of Miotal directly in an underwritten public offering, including no independent due diligence review by an underwriter and conflicts of interest of the Sp…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice