Bayview Acquisition Corp

    BAYAR ·NASDAQ ·Blank Checks ·Inc. in E9
    Other securities: BAYA BAYAUunit
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    Item 1. Business

     

    In this Annual Report on Form 10-K (the “Form 10-K”), references to the “Company,” “SPAC,” and to “we,” “us,” and “our” refer to Bayview Acquisition Corp.

     

    General

     

    Bayview Acquisition Corp is a blank check company incorporated on February 16, 2023, as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”). We may pursue an acquisition or a business combination with a target in any business or industry that can benefit from the expertise and capabilities of our management team. Our efforts in identifying prospective target businesses will not be limited to a particular geographic region, although we intend to primarily focus on businesses in Asia. We have generated no revenues to date and we do not expect that we will generate operating revenues at the earliest until we consummate our Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

     

    On February 23, 2023, Bayview Holding LP and Peace Investment Holdings Limited, our Sponsors, acquired an aggregate of 1,437,500 ordinary shares, par value $0.0001 per share (the “Ordinary Shares”) (up to 187,500 shares of which were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised), of which Bayview Holding LP owns 474,375 Ordinary Shares and Peace Investment Holdings Limited owns 963,125 Ordinary Shares. On December 14, 2023, the Company issued an additional 287,500 ordinary shares (the “Founder Shares”) for consideration of $100, resulting in Bayview Holding LP holding a total of 569,250 Founder Shares and Peace Investment Holdings Limited holding a total of 1,155,750 Founder Shares as of the date of the Registration Statement.

     

    As of December 31, 2025, and for the period from February 16, 2023 (inception) through December 31, 2025, the Company had not yet commenced any operations. All activity for the period from February 16, 2023 (inception) through December 31, 2025, relates to the Company’s formation and the initial public offering (the “Initial Public Offering” or “IPO”) and identifying a target for a Business Combination. The Company will not generate any operating revenues until after the completion of its Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.

     

    The registration statement for the Company’s Initial Public Offering was declared effective on December 14, 2023 (the “Registration Statement”). Additionally, on December 14, 2023, the Company filed a registration statement on Form S-1MEF adding securities to the Registration Statement. On December 19, 2023 the Company consummated the Initial Public Offering of 6,000,000 units (the “Units” and, with respect to the shares of Ordinary Shares included in the Units sold, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $60,000,000. Unit consists of one Ordinary Share and one right (the “Rights”), with each Right entitling the holder thereof to receive one-tenth of one Ordinary Share. Additionally, on January 28, 2024, the underwriters’ over-allotment option expired and the Sponsors forfeited an aggregate of 225,000 Founder Shares.

     

    Simultaneously with the closing of the Initial Public Offering, the Company consummated the private sale of 232,500 Units (the “Private Placement Units”) to Bayview Holding LP and Peace Investment Holdings Limited (the “Sponsors”) at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $2,325,000.

     

    In addition, concurrent with the closing of the Initial Public Offering, the Company sold to Chardan Capital Markets, LLC (“Chardan”), for $100, an option to purchase a number of Units equal to up to 9% of the public Units sold in the Initial Public Offering (an aggregate of up to 540,000 Units) (the “UPO”). The UPO is exercisable at any time, in whole or in part, between the close of a Business Combination and the fifth anniversary of the date of closing the Initial Public Offering at a price per unit equal to $11.50 (or 115% of the volume weighted average price of the Ordinary Shares during the 20 trading day period starting on the trading day immediately prior to consummation of an initial Business Combination).

     

     

     

    Of the proceeds the Company received from the Initial Public Offering and the sale of the Private Placement Units, $60,000,000 ($10.00 per Public Share) was deposited into a U.S.-based trust account at Bank of America with Equiniti Trust Company, LLC, acting as trustee, with approximately $370,988 being used to pay fees and expenses in connection with the closing of the Initial Public Offering, including underwriting commissions of $1,200,000, and $566,582 being available for working capital following the Initial Public Offering. Except with respect to interest earned on the funds held in the trust account that may be released to the Company to pay its tax obligations, the proceeds from the Initial Public Offering and the sale of the Private Placement Units that are deposited in the trust account will not be released from the trust account until the earliest to occur of (a) the completion of our initial business combination, (b) the redemption of any Public Shares properly submitted in connection with a shareholder vote to amend our Second Amended and Restated Memorandum and Articles of Association (i) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our Public Shares if we do not complete our initial business combination within 30 months from the closing of the Initial Public Offering or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity and (c) the redemption of our Public Shares if we are unable to complete our business combination within 30 months from the closing of the Initial Public Offering, subject to applicable law.

     

    Since our Initial Public Offering, our sole business activity has been identifying and evaluating suitable acquisition transaction candidates.

     

    Merger Agreement

     

    On June 7, 2024, Bayview Acquisition Corp entered into an Agreement and Plan of Merger (as amended by Amendment No. 1 to Merger Agreement, dated as of June 26, 2024, Amendment No. 2 to Merger Agreement, dated as of May 14, 2025, Amendment No. 3 to Merger Agreement, dated January 21, 2026, the “Merger Agreement”) with Oabay Holding Company, a Cayman Islands exempted company limited by shares (“PubCo”), Oabay Inc., a Cayman Islands exempted company limited by shares (“Oabay”), Bayview Merger Sub I Limited, a Cayman Islands exempted company limited by shares and a wholly-owned subsidiary of PubCo (“Merger Sub 1”), Bayview Merger Sub 2, a Cayman Islands exempted company limited by shares and a wholly-owned subsidiary of PubCo (“Merger Sub 2”), Oabay Merger Sub Limited, a Cayman Islands exempted company limited by shares and a wholly-owned subsidiary of PubCo (“Merger Sub 3”), BLAFC Limited, a business company limited by shares in the British Virgin Islands, Bayview Holding LP, a Delaware limited partnership, and Peace Investment Holdings Limited, a Delaware limited partnership, pursuant to which, subject to the satisfaction or waiver of certain conditions set forth therein, (i) SPAC will merge with and into Merger Sub 1, with SPAC surviving the merger in accordance with the Companies Act (As Revised) of the Cayman Islands (the “Act”) (the “First SPAC Merger”), (ii) immediately following the First SPAC Merger, SPAC will merge with and into Merger Sub 2, with Merger Sub 2 surviving the merger in accordance with the Act (the “Second SPAC Merger,” and together with the First SPAC Merger, the “Initial Mergers”), and (iii) following the Initial Mergers, Merger Sub 3 will merge with and into Oabay, with Oabay being the surviving entity and becoming a wholly-owned subsidiary of PubCo in accordance with the Act (the “Acquisition Merger,” and together with the Initial Mergers, the “Mergers”) (the transactions contemplated by the Merger Agreement, including, but not limited to the Mergers, the “Business Combination”).

     

    The Merger Agreement and the Mergers were unanimously approved by the boards of directors of each of the Company and Oabay. The Business Combination is expected to be consummated after obtaining the required approval by the shareholders of SPAC and Oabay and the satisfaction of certain other customary closing conditions, as well as that Oabay shall have obtained the Transaction Financing Procured by Oabay (as defined below and in the Merger Agreement).

     

    Concurrently with the execution of the Merger Agreement, Oabay also entered into a support agreement (the “Shareholder Support Agreement”) with certain Oabay shareholder (the “Supporting Shareholder”) with respect to the shares of Oabay currently owned by the Supporting Shareholder. The Shareholder Support Agreement provides that the Supporting Shareholders will appear at shareholders meetings of Oabay and vote, consent or approve the Merger Agreement and the Mergers, whether at a shareholder meeting of Oabay or by written consent. It further provides that the Supporting Shareholders will vote against (or act by written consent against) any alternative proposals or actions that would impede, interfere with, delay, postpone or adversely affect the consummation of the Mergers.

     

     

     

    Concurrently with the execution of the Merger Agreement, the Company entered into a support agreement (the “Sponsor Support Agreement”) with certain holders (the “Initial Shareholders”) of the Founders Shares with respect to Founder Shares currently owned by the Initial Shareholders. The Sponsor Support Agreement provides that the Initial Shareholders will appear at shareholders meetings of the Company and vote, consent or approve the Merger Agreement and the Mergers, whether at a shareholder meeting of the Company or by written consent. It further provides that the Initial Shareholders will vote against (or act by written consent against) any alternative proposals or actions that would impede, interfere with, delay, postpone or adversely affect the consummation of the Mergers.

     

    Extraordinary General Meeting

     

    On September 16, 2024, the Company held an extraordinary general meeting (the “Extraordinary General Meeting”) at which the shareholders of the Company approved (i) a proposal to extend the date by which the Company must complete its initial business combination from September 19, 2024 (the “Termination Date”) to June 19, 2025, with all nine (9) extensions comprised of one month each (each an “Extension”) (the “Extension Amendment Proposal”) and (ii) a proposal to amend the Company’s investment management trust agreement, dated December 14, 2023 by and between the Company and Equiniti Trust Company, LLC (the “Trustee”) to allow the Company to extend the Termination Date up to nine (9) times, with all nine (9) extensions comprised of one month each from the Termination Date to June 19, 2025 by providing five days’ advance notice to the Trustee prior to the applicable Termination Date and depositing into the Trust Account $125,000 (the “Extension Payment”) for each month in an Extension until June 19, 2025 (the “Trust Agreement Amendment Proposal”).

     

    In connection with the vote to approve the Extension Amendment Proposal and the Trust Agreement Amendment Proposal, the holders of 2,290,989 Ordinary Shares properly exercised their rights to redeem their shares for cash at a redemption price of approximately $10.39 per share, for an aggregate redemption amount of approximately $23,803,376.

     

    On June 17, 2025, the Company held an extraordinary general meeting at which the shareholders of the Company approved (i) a proposal to extend the date by which the Company must complete its initial business combination from June 19, 2025 (the “June Termination Date”) to December 19, 2025, with all six (6) extensions comprised of one month each and (ii) a proposal to amend the Company’s investment management trust agreement, dated December 14, 2023 by and between the Company and Equiniti Trust Company, LLC to allow the Company to extend the June Termination Date up to six (6) times, with all six (6) extensions comprised of one month each from the June Termination Date to December 19, 2025 by providing five days’ advance notice to the Trustee prior to the applicable June Termination Date and depositing into the Trust Account $100,000 for each month in an Extension until December 19, 2025.

     

    In connection with the vote to approve the extension amendment proposal and the trust agreement amendment proposal, the holders of 1,975,249 Ordinary Shares properly exercised their rights to redeem their shares for cash at a redemption price of approximately $11.05 per share, for an aggregate redemption amount of approximately $21,826,501.

     

    On December 12, 2025, the Company held an extraordinary general meeting at which the shareholders of the Company approved (i) a proposal to extend the date by which the Company must complete its initial business combination from December 19, 2025 (the “December Termination Date”) to June 19, 2026, with all six (6) extensions comprised of one month each and (ii) a proposal to amend the Company’s investment management trust agreement, dated December 14, 2023 by and between the Company and Equiniti Trust Company, LLC to allow the Company to extend the December Termination Date up to six (6) times, with all six (6) extensions comprised of one month each from the December Termination Date to June 19, 2026 by providing five days’ advance notice to the Trustee prior to the applicable December Termination Date and depositing into the Trust Account $50,000 for each month in an Extension until June 19, 2026.

     

    In connection with the vote to approve the extension amendment proposal and the trust agreement amendment proposal, the holders of 727,970 Ordinary Shares properly exercised their rights to redeem their shares for cash at a redemption price of approximately $11.62 per share, for an aggregate redemption amount of approximately $8,456,654.

     

     

     

    Nasdaq Delisting Notices

     

    On August 22, 2025, the Company received a written notice from the Nasdaq Listing Qualifications Staff (the “Staff”) notifying the Company that the Company is not in compliance with Nasdaq Listing Rule 5450(b)(2)(A) (the “MVLS Rule”), which requires the Company to maintain a minimum market value of listed securities (“MVLS”) of $50.0 million. If the Company does not regain compliance within the 180-day period, the securities will be subject to delisting.

     

    On January 16, 2026, the Company received another written notice from the Staff notifying the Company that the Company is not in compliance with Nasdaq Listing Rules 5450(b)(2)(C), 5810(c)(3)(D), 5810(b), and 5505 (collectively, the “MVPHS Rules”), which require the Company to maintain a minimum market value of publicly held shares (“MVPHS”) of $15.0 million. If the Company does not regain compliance within the 180-day period, the securities will be subject to delisting.

     

    On February 12, 2026, the Company received another written notice from the Staff notifying the Company that the Company is not in compliance with the Annual Meeting Rule, which requires the Company to hold an annual meeting of shareholders within twelve months of the end of its fiscal year. The Company has 45 calendar days to submit a plan of compliance. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the fiscal year end, or until June 29, 2026, to evidence compliance with the Annual Meeting Rule.

     

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    Financial statements

    data from SEC XBRL filings. Values are as-reported; restatements supersede originals. Values reported in .

    From 10-K filed 2026-03-13 (period ending 2025-12-31).

    Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

     

    References to the “Company,” “our,” “us” or “we” refer to Bayview Acquisition Corp. The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the audited financial statements and the notes related thereto which are included in “Item 8. Financial Statements and Supplementary Data” of this Annual Report on Form 10-K. Certain information contained in the discussion and analysis set forth below includes forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of many factors. Certain information contained in the discussion and analysis set forth below includes forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of many factors, including those set forth under “Cautionary Note Regarding Forward-Looking Statements and Risk Factor Summary,” “Item 1A. Risk Factors” and elsewhere in this Annual Report on Form 10-K.

     

    Overview

     

    We are a blank check company incorporated on February 16, 2023, as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, which we refer to throughout the Registration Statement as our initial business combination. We have generated no revenues to date, and we do not expect that we will generate operating revenues at the earliest until we consummate our initial business combination.

     

    Results of Operations and Known Trends or Future Events

     

    We have neither engaged in any operations nor generated any revenues to date. Our only activities since February 16, 2023 (inception) to December 31, 2025, have been organizational activities and those necessary to prepare for the Initial Public Offering (the “IPO”) described below and identifying a target company and completing the initial Business Combination. Following our IPO, we would not generate any operating revenues until the completion of our initial business combination. We would generate non-operating income in the form of interest income after the IPO. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for business combination expenses.

     

    For the year ended December 31, 2025, we had net income of $202,599, which primarily consisted of interest earned on marketable securities held in trust account and bank interest income of $1,189,102, offset by formation and operating costs of $986,503.

     

    For the year ended December 31, 2024, we had net income of $1,752,975, which primarily consisted of interest earned on marketable securities held in trust account and bank interest income of $2,780,145, offset by formation and operating costs of $1,027,170.

     

    Liquidity and Capital Resources

     

    Our liquidity needs have been satisfied prior to the completion of the IPO through the capital contribution from our sponsor of $25,100 to purchase the founder shares, and up to $300,000 in loans available from our sponsor under an unsecured promissory note. The promissory note expired after the consummation of the IPO.

     

    On December 19, 2023, we consummated our IPO of 6,000,000 Units, at $10.00 per Unit, generating gross proceeds of $60,000,000. Simultaneously with the closing of the IPO, we consummated the sale of 232,500 Private Placement Units at a price of $10.00 per Private Placement Unit, generating total gross proceeds of $2,325,000. Following the closing of the IPO, an amount of $60,000,000 from the net proceeds of the sale of the Units in the IPO and the Private Placement was held in a trust account. The funds held in the trust account may be invested in U.S. government securities with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by us.

     

     

     

    We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account (less amounts released to us for taxes payable and deferred underwriting commissions) to complete our initial business combination. We may withdraw interest to pay taxes, if any. Our annual income tax obligations will depend on the amount of interest and other income earned on the amounts held in the trust account. We expect the interest income earned on the amount in the trust account (if any) will be sufficient to pay our taxes. To the extent that our equity or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

     

    As of December 31, 2025, our cash and cash equivalent balance was $44,129. We will use these funds primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a business combination.

     

    In order to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination, our founders or an affiliate of our founders may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts. In the event that our initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $300,000 of such loans may be convertible into working capital units, at a price of $10.00 per unit at the option of the lender. The working capital units would be identical to the Private Placement Units, each consisting of one ordinary share and one right with the same exercise price, exercisability and exercise period, subject to similar limited restrictions as compared to the units sold in the IPO. The terms of such loans by our founders or their affiliates, if any, have not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our founders or an affiliate of our founders as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account, but in the event that we seek loans from any third parties, we will obtain a waiver against any and all rights to seek access to funds in our trust account.

     

    We expect our primary liquidity requirements before the completion of the initial business combination to include approximately $200,000 in legal, accounting, due diligence and other fees in connection with the business combination; $100,000 in legal and accounting related to regulatory reporting obligations, $120,000 for office space, administrative and support services, $55,000 in NASDAQ continued listing fees and $100,000 for miscellaneous expenses, including director and officer’s liability insurance, general corporate purposes, liquidation obligations and reserves.

     

    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 “no-shop” provision (a provision designed to keep target businesses from “shopping” around for transactions with other companies or investors on terms more favorable to such target businesses) with respect to a particular proposed business combination, although we do not have any current intention to do so. If we entered into an agreement where we paid for the right to receive exclusivity from a target business, the amount that would be used as a down payment or to fund a “no-shop” provision would be determined based on the terms of the specific business combination and the amount of our available funds at the time. Our forfeiture of such funds (whether as a result of our breach or otherwise) could result in our not having sufficient funds to continue searching for, or conducting due diligence with respect to, prospective target businesses.

     

    Quantitative and Qualitative Disclosures about Market Risk

     

    The net proceeds of the IPO and the sale of the Private Placement Units held in the trust account will be invested in U.S. government treasury bills with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. Due to the short-term nature of these investments, we believe there will be no associated material exposure to interest rate risk.

     

    Related Party Transactions

     

    Please refer to Financial Statements Note 5 – Related Parties.

     

    Off-Balance Sheet Arrangements; Commitments and Contractual Obligations; Quarterly Results

     

    As of December 31, 2025, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or contractual obligations. No unaudited quarterly operating data is included in the Registration Statement, as we have conducted no operations to date.

     

     

     

    JOBS Act

     

    On April 5, 2012, the JOBS Act was signed into law. The JOBS Act contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. We will qualify as an “emerging growth company” and under the JOBS Act will be allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.

     

    Additionally, we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set forth in the JOBS Act, if, as an “emerging growth company”, we choose to rely on such exemptions we may not be required to, among other things, (i) provide an auditor’s attestation report on our system of internal controls over financial reporting pursuant to Section 404, (ii) provide all of the compensation disclosure that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (auditor discussion and analysis), and (iv) disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation. These exemptions will apply for a period of five years following the completion of the IPO or until we are no longer an “emerging growth company,” whichever is earlier.

     

    Critical Accounting Policies and Estimates

     

    The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. We have not identified any critical accounting estimates. Critical accounting policies are described below, and all the significant accounting policies are described in Note 2 of the financial statements.

     

    Ordinary Shares Subject to Possible Redemption

     

    We account for our ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption is classified as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption is presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital or accumulated deficit if additional paid in capital equals to zero.

     

    Net Income (Loss) per Share

     

    The Company complies with accounting and disclosure requirements of FASB ASC 260, Earnings Per Share. The statements of operations include a presentation of income (loss) per redeemable share and income (loss) per non-redeemable share following the two-class method of income (loss) per share. In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the Company first considered the undistributed income (loss) allocable to both the redeemable shares and non-redeemable shares and the undistributed income (loss) is calculated using the total net income (loss) less any dividends paid. The Company then allocated the undistributed income (loss) ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable shares. Any remeasurement of the accretion to redemption value of the ordinary shares subject to possible redemption was considered to be dividends paid to the public shareholders.

     

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    Held by

    holders ( registered funds via N-PORT, institutional investors via 13F). Showing top by dollar value.

    Holder Type ETF MF Position ($) % of holder Δ % of holder Holder AUM

    Next expected filings

    • ~2026-05-21 10-Q expected by 2026-05-21 (in 1 day)
    • ~2026-08-14 10-Q expected by 2026-08-14 (in 86 days)
    • ~2026-11-14 10-Q expected by 2026-11-14 (in 178 days)
    • ~2027-02-24 10-K expected by 2027-02-23 (in 280 days)

    Predicted from historical filing cadence; not an SEC commitment.

    Recent SEC filings

    • 2026-05-19 8-K Material Agreement Entered; Financial Statements and Exhibits
    • 2026-04-24 8-K Delisting Notice; Regulation FD Disclosure; Financial Statements and Exhibits
    • 2026-03-23 8-K Delisting Notice
    • 2026-03-13 10-K Annual Report
    • 2026-02-24 8-K/A Delisting Notice
    • 2026-02-20 8-K Delisting Notice
    • 2026-02-17 8-K Delisting Notice
    • 2026-01-22 8-K Material Agreement Entered; Delisting Notice; Financial Statements and Exhibits
    • 2025-11-14 10-Q Quarterly Report
    • 2025-08-26 8-K Delisting Notice
    • 2025-08-14 10-Q Quarterly Report
    • 2025-05-21 10-Q Quarterly Report
    • 2025-05-20 8-K Material Agreement Entered; Financial Statements and Exhibits
    • 2025-04-01 10-K Annual Report
    • 2024-11-14 10-Q Quarterly Report