SOCAU — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• For the six months ended June 30, 2026, we had net income of $2,751,059, which consisted of income on Money Market Funds held in the Trust Account of $3,163,991 and dividend and interest income of $20,225, offset by general and administrative expenses of $253,157 and administrative expense – related…

• As of June 30, 2026, we had $1,019,450 in cash and cash equivalents held outside of the Trust Account and working capital of $668,155.

• The Company has until April 17, 2027 to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by this time. If a Business Combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution.

• Further, the Company has incurred and expects to continue to incur significant costs in pursuit of a Business Combination. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standards Board (“FASB”) ASC 205-40, Presentation of Financia…

• We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of June 30, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which …

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• As of March 31, 2026, we had $1,097,917 in cash and cash equivalents held outside of the Trust Account and working capital of $875,842.

• We do not believe we will need to raise additional funds following the Initial Public Offering in order to meet the expenditures required for operating our business prior to our initial Business Combination. However, if our estimates of the costs of identifying a target business, undertaking in-dept…

• These amounts are estimates and may differ materially from our actual expenses. In addition, we could use a portion of the funds not being placed in trust to pay commitment fees for financing, fees to consultants to assist us with our search for a target business or as a down payment or to fund a “n…

• Moreover, we may need to obtain additional financing to complete our initial Business Combination, either because the transaction requires more cash than is available from the proceeds held in our Trust Account or because we become obligated to redeem a significant number of Public Shares upon compl…

• We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of March 31, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which…

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• Management’s Report on Internal Controls Over Financial Reporting

• This Quarterly Report does not include a report of management’s assessment regarding internal control over financial reporting or an attestation report of our independent registered public accounting firm due to a transition period established by rules of the SEC for newly public companies.