ITHAU — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-15

• For the three months ended March 31, 2026, we had a net income of $1,783,724, which consists of marketable securities held in the Trust Account of $1,959,236 and general and administrative costs of $175,512.

• 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 placed in the Trust Account. We incurred costs of $14,211,396, consisting of $4,000,000 of cash underwriting fee, $9,800,000 of deferred underwriting…

• For the period three months ended March 31, 2026, cash used in operating activities was $88,730. Net income of $1,783,724 was affected by interest earned on cash and marketable securities held in Trust Account of $1,959,236. Changes in operating assets and liabilities used $86,782 of cash for operat…

• As of March 31, 2026, we had marketable securities held in the Trust Account of $232,255,318 primarily consisting of U.S. Treasury Bills with a maturity of 185 days or less. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in …

• Commencing on December 11, 2025, the effective date of the Initial Public Offering, the Company entered into an agreement with an affiliate of the Sponsor to pay an aggregate of $12,500 per month for office space, utilities, and secretarial and administrative support. For the three months ended Marc…

Text removed vs the prior filing · source: 10-Q · 2026-01-27

• For the period from July 3, 2025 (inception) through September 30, 2025, we had a net loss of $37,638, which consists of general and administrative costs.

• Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of Class B ordinary shares, par value $0.0001 per share, by the Sponsor and loans from the Sponsor.

• Subsequent to the quarterly period covered by this Quarterly Report on Form 10-Q, on December 15, 2025, we consummated the Initial Public Offering of 23,000,000 Units, which includes the full exercise by the underwriters of their over-allotment option of 3,000,000 Units, at $10.00 per Unit, generati…

• Following the Initial Public Offering, including the full exercise of the over-allotment option, and the sale of the Private Placement Warrants, a total of $230,000,000 was placed in the Trust Account. We incurred transaction costs amounting to $14,211,396, consisting of $4,000,000 of cash underwrit…

• For the period from July 3, 2025 (inception) through September 30, 2025, net cash used in operating activities was $0. Net loss of $37,638 was affected by

Text added vs the prior filing · source: 10-Q · 2026-05-15

• There were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financia…

Text removed vs the prior filing · source: 10-Q · 2026-01-27

• Management’s Report on Internal Controls Over Financial Reporting

• This Quarterly Report on Form 10-Q 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 compan…

• There was no change in our internal control over financial reporting that occurred during the fiscal quarter covered by this Quarterly Report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.