BSAAU — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• On May 19, 2026, at the 2026 EGM, the Company’s shareholders approved a proposal to amend and restate the Company’s amended and restated memorandum and articles of association to allow the Company to extend the date by which it had to complete a business combination to June 16, 2027, or up to 24 mon…

• On May 19, 2026, the Sponsor entered into an assignment of economic interest agreement with an unaffiliated third party. In exchange for such third party agreeing to vote 451,243 shares of the Company’s Class A ordinary shares sold in its initial public offering in favor of the 2026 Charter Amendmen…

• We have neither engaged in any operations nor generated any revenues to date. Our only activities from December 13, 2024 (inception) through June 30, 2026 were organizational activities and those necessary to prepare, and consummate, for the IPO, described below, and subsequent to the IPO, identifyi…

• We expect to generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We expect that we will incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence…

• For the three months ended June 30, 2026, we had a net income of $166,802 which consisted of general and administrative expenses of $124,997, offset by interest income of $291,799. For the three months ended June 30, 2025, we had net loss of $5,791, which consisted of interest income of $87,764, par…

Text removed vs the prior filing · source: 10-Q · 2026-04-28

• On June 16, 2025, the Company consummated its IPO and sold 5,500,000 Units. Each Unit consists of one Class A ordinary share and one right to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of an initial Business Combination. The Units were sold at a price of $10.00 per …

• Simultaneously with the closing of the IPO and the sale of the Units, the Company consummated the Private Placement of an aggregate 277,000 Private Placement Units.

• In connection with the IPO, the Company issued to Maxim Group LLC and/or its designees (“Maxim”), the representative of the underwriters, an aggregate of 247,500 Representative Shares for no consideration.

• Upon closing of the IPO and the Private Placement, a total of $55,000,000 was placed in the Trust Account established for the benefit of our public shareholders and the underwriters of the IPO with Continental Stock Transfer & Trust Company acting as trustee. Cash of $1,919,995 was held outside of t…

• Total transaction costs amounted to $1,518,116, consisting of $550,000 of cash underwriting commissions which was paid in cash at the closing date of the IPO on June 16, 2025, the fair value of $544,500 of the Representative Shares, and $423,616 of other offering costs.