43 results
10-Q
2024 Q2
MACI
Melar Acquisition Corp. I
14 Aug 24
Quarterly report
4:45pm
| | | | | | | | | | | | |
| | | | For the Period from | ||||||||
| | | | | | | | March 11, 2024 (inception) | ||||
| | For the Three Months Ended | | Through | ||||||||
| | June 30, 2024 | | June 30, 2024 | ||||||||
| Class A | Class B | Class A | Class B | ||||||||
Basic net income per ordinary share: | | | | | ||||||||
Numerator: | | | | | ||||||||
Allocation of net income, basic | | $ | 26,666 | | $ | 79,637 | | $ | 18,633 | | $ | 68,535 |
Denominator: | | | | | ||||||||
Basic weighted average ordinary shares outstanding | | 1,777,778 | | 5,309,309 | | 1,441,441 | | 5,301,923 | ||||
Basic net income per ordinary share | | $ | 0.01 | | $ | 0.01 | | $ | 0.01 | | $ | 0.01 |
10-Q
2024 Q2
MACI
Melar Acquisition Corp. I
14 Aug 24
Quarterly report
4:45pm
| | | | | |
| Shares | Amount | |||
Gross proceeds | 16,000,000 | | $ | 160,000,000 | |
Less: | | ||||
Proceeds allocated to Public Warrants | — | | (2,080,000) | ||
Proceeds allocated to the over-allotment option | — | | (169,119) | ||
Class A ordinary shares issuance costs | — | | (10,024,214) | ||
Plus: | | ||||
Accretion of carrying value to redemption value | — | | 12,440,865 | ||
Class A ordinary shares subject to possible redemption, June 30, 2024 | 16,000,000 | | $ | 160,167,532 |
10-Q
2024 Q2
MACI
Melar Acquisition Corp. I
14 Aug 24
Quarterly report
4:45pm
| | | |
ASSETS | | ||
Current assets | | ||
Cash | | $ | 1,037,126 |
Prepaid expenses | | 23,732 | |
Prepaid insurance | | 147,468 | |
Total Current Assets | | 1,208,326 | |
| | | |
Long-term prepaid insurance | | 142,620 | |
Cash and marketable securities held in Trust Account | | 160,167,532 | |
TOTAL ASSETS | | $ | 161,518,478 |
| | | |
LIABILITIES AND SHAREHOLDERS’ DEFICIT | | ||
Current liabilities | | ||
Accounts payable | | $ | 16,084 |
Due to Sponsor | | 2,447 | |
Over-allotment option liability | | 141,754 | |
Total current liabilities | | 160,285 | |
| | | |
Deferred underwriting fee | | 6,600,000 | |
Total Liabilities | | 6,760,285 | |
| | | |
Commitments and Contingencies (Note 6) | | ||
| | | |
Class A ordinary shares subject to possible redemption, 16,000,000 shares at redemption value of $10.01 per share | | 160,167,532 | |
| | | |
Shareholders’ deficit | | ||
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding | | — | |
Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; none issued or outstanding (excluding 16,000,000 shares subject to possible redemption) | | — | |
Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 6,060,811 shares issued and outstanding (1) | | 606 | |
Additional paid-in capital | | — | |
Accumulated deficit | | (5,409,945) | |
Total Shareholders’ Deficit | | (5,409,339) | |
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | | $ | 161,518,478 |
10-Q
2024 Q2
MACI
Melar Acquisition Corp. I
14 Aug 24
Quarterly report
4:45pm
| | | | | | | | | | | | | | | | | | | |
| Class A | Class B | Additional | | Total | ||||||||||||||
| | Ordinary Shares | | Ordinary Shares | | Paid-in | | Accumulated | | Shareholders’ | |||||||||
| Shares | Amount | Shares (1) | Amount | Capital | Deficit | Equity (Deficit) | ||||||||||||
Balance — March 11, 2024 (inception) | | — | | $ | — | | — | | $ | — | | $ | — | | $ | — | | $ | — |
| | | | | | | | | | | | | | | | | | | |
Issuance of Class B ordinary shares to Sponsor | | — | | — | | 6,060,811 | | 606 | | 24,394 | | — | | 25,000 | |||||
| | | | | | | | | | | | | | | | | | | |
Net loss | | — | | — | | — | | — | | — | | (19,135) | | (19,135) | |||||
| | | | | | | | | | | | | | | | | | | |
Balance – March 31, 2024 | | — | | — | | 6,060,811 | | $ | 606 | | $ | 24,394 | | $ | (19,135) | | $ | 5,865 | |
| | | | | | | | | | | | | | | | | | | |
Accretion for Class A ordinary shares to redemption amount | | — | | — | | — | | — | | (6,943,752) | | (5,497,113) | | (12,440,865) | |||||
| | | | | | | | | | | | | | | | | | | |
Sale of 5,000,000 Private Placement Warrants | | — | | — | | — | | — | | 5,000,000 | | — | | 5,000,000 | |||||
| | | | | | | | | | | | | | | | | | | |
Fair value of Public Warrants at issuance | | — | | — | | — | | — | | 2,080,000 | | — | | 2,080,000 | |||||
| | | | | | | | | | | | | | | | | | | |
Allocated value of transaction costs to Public and Private Warrants | | — | | — | | — | | — | | (160,642) | | — | | (160,642) | |||||
| | | | | | | | | | | | | | | | | | | |
Net income | | — | | — | | — | | — | | — | | 106,303 | | 106,303 | |||||
| | | | | | | | | | | | | | | | | | | |
Balance – June 30, 2024 | | — | | $ | — | | 6,060,811 | | $ | 606 | | $ | — | | $ | (5,409,945) | | $ | (5,409,339) |
10-Q
2024 Q2
MACI
Melar Acquisition Corp. I
14 Aug 24
Quarterly report
4:45pm
| | | |
Cash Flows from Operating Activities: | | ||
Net income | | $ | 87,168 |
Adjustments to reconcile net income to net cash used in operating activities: | | ||
Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares | | 6,236 | |
Interest earned on cash and marketable securities held in Trust Account | | (167,532) | |
Payment of general and administrative costs through promissory note – related party | | 10,420 | |
Change in fair value of over-allotment option liability | | (27,365) | |
Changes in operating assets and liabilities: | | ||
Prepaid expenses | | (313,820) | |
Due from Sponsor | | 2,447 | |
Accounts payable | | 16,084 | |
Net cash used in operating activities | | (386,362) | |
| | | |
Cash Flows from Investing Activities: | | ||
Investment of cash in Trust Account | | (160,000,000) | |
Net cash used in investing activities | | (160,000,000) | |
| | | |
Cash Flows from Financing Activities: | | ||
Proceeds from sale of Units, net of underwriting discounts paid | | 157,000,000 | |
Proceeds from sale of Private Placements Warrants | | 5,000,000 | |
Repayment of promissory note - related party | | (249,389) | |
Payment of offering costs | | (327,123) | |
Net cash provided by financing activities | | 161,423,488 | |
| | | |
Net Change in Cash | | 1,037,126 | |
Cash – Beginning of period | | — | |
Cash – End of period | | $ | 1,037,126 |
| | | |
Non-Cash investing and financing activities: | | ||
Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares | | $ | 18,764 |
Deferred offering costs paid through promissory note – related party | | $ | 238,969 |
Overallotment liability at Initial Public Offering date | | $ | 169,119 |
Accretion of Class A ordinary shares to redemption value | | $ | 12,440,865 |
Deferred underwriting fee payable | | $ | 6,600,000 |
Offering costs charged to additional paid in capital | | $ | 584,856 |
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