XSLLW — 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 net income of $1,102,874, which consists of interest earned on cash and investments held in the Trust Account of $1,165,636 and change on overallotment liability of $160,600, offset by formation, general, and administrative costs of $223,362.

• On January 30, 2026, the Company consummated the Initial Public Offering of 20,000,000 Units, at $10.00 per Unit, generating gross proceeds of $200,000,000. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 400,000 Private Placement Units at a price …

• Following the Initial Public Offering, the exercise of the Over-Allotment Option and the sale of the Private Units, a total of $204,193,850 was placed in the Trust Account. We incurred $2,674,141, consisting of $1,531,454 of cash underwriting discount, $501,802 representing fair value of representat…

• For the three months ended March 31, 2026, cash used in operating activities was $100,050. Net income of $1,102,874 was affected by interest earned on cash and investments held in the Trust Account of $1,165,636, payment of operation costs through promissory note of $46,945 and change in fair value …

• As of March 31, 2026, we had cash and investments held in the Trust Account of $205,359,486 (including approximately $1,165,636 of interest income 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 t…

Text removed vs the prior filing · source: 10-Q · 2026-03-16

• For the period from September 16, 2025 (inception) through September 30, 2025, we had a net loss of $46,662, which consisted of formation, general, and administrative costs.

• Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of shares of Class B ordinary shares, par value $0.0001 per share, by the Sponsor and loans from the Sponsor. As of September 30, 2025, we had no cash and working capital deficit of $79,062.

• Subsequent to the quarterly period covered by this Quarterly Report, pursuant to the Initial Public Offering on January 30, 2026, the Company sold 20,000,000 Units, at a purchase price of $10.00 per Unit, generating gross proceeds of $200,000,000. On February 2, 2026, the Company consummated the clo…

• Simultaneously with the closing of the Initial public Offering, the Sponsor purchased an aggregate of 400,000 Private Placement Units, at a price of $10.00 per Private Placement Unit, for an aggregate purchase price of $4,000,000 in a private placement. Simultaneously with the consummation of the pa…

• Following the Initial Public Offering, the partial exercise by the underwriters of their over-allotment option, and the sale of the Private Placement Units, a total of $204,193,850 was placed in the Trust Account.

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

• Under the supervision and with the participation of our management, including our principal executive officer and principal financial and accounting officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal quarter ended March 31, …

• There was no change in our internal control over financial reporting that occurred during the fiscal quarter of 2026 covered by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2026-03-16

• Under the supervision and with the participation of our management, including our Certifying Officers, we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on …

• adjust procedures going forward in order to meet requirements for adequate internal controls over financial reporting.

• 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.