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Aimei Health Technology(AFJK) - 2024 Q3 - Quarterly Report
2024-11-13 21:05
Financial Position - Total assets increased to $72.78 million as of September 30, 2024, compared to $70.47 million on December 31, 2023, reflecting a growth of approximately 1.84%[5] - Current liabilities surged to $230.79 million from $24.84 million, indicating a significant increase of 828.5%[6] - The accumulated deficit increased to $(797,102) as of September 30, 2024, compared to $(134,337) at the end of 2023, reflecting a deterioration in financial position[7] - Total current assets decreased to $123.90 million from $580.72 million, a decline of approximately 78.66%[5] - Total liabilities increased to $920,789 as of September 30, 2024, compared to $714,841 at the end of 2023, marking an increase of about 28.8%[6] - As of September 30, 2024, the Company reported a working capital deficit of $106,889 and had $103,559 in its bank account[30] - As of September 30, 2024, the cash balance was $103,559, down from $580,717 as of December 31, 2023[42] - The estimated fair value of investments held in the Trust Account was $72,660,715 as of September 30, 2024, compared to $69,889,848 as of December 31, 2023, reflecting an increase of approximately 4%[43] Income and Earnings - Net income for the three months ended September 30, 2024, was $743,510, compared to a net loss of $3,618 for the same period in 2023[10] - Basic and diluted net income per share attributable to ordinary shares subject to possible redemption was $0.08 for the three months ended September 30, 2024, down from $0.23 in the previous year[9] - The Company reported a net income of $743,510 for the nine months ended September 30, 2024, compared to a net loss of $3,618 for the same period in 2023[49] - Basic and diluted net income per share for redeemable ordinary shares was $0.23 for the nine months ended September 30, 2024[52] - For the nine months ended September 30, 2024, the company reported a net income of $2,108,102, primarily from dividend income of $2,770,867, after deducting operational costs of $662,765[89] Initial Public Offering (IPO) - Aimei Health Technology Co., Ltd. completed its Initial Public Offering on December 6, 2023, raising gross proceeds of $69,000,000 from the sale of 6,900,000 units at $10.00 per unit[17] - The Company incurred offering costs of $2,070,665 and deferred underwriting commissions of $690,000 related to the Initial Public Offering[17] - The underwriters received a cash underwriting discount of 2.00% of the gross proceeds from the Initial Public Offering, amounting to $1,380,000, and a deferred fee of 1.0% or $690,000 upon closing of a business combination[81] - The Company completed its Initial Public Offering on December 6, 2023, raising gross proceeds of $69,000,000 from the sale of 6,900,000 Units at $10.00 per Unit[60] - The Company generated gross proceeds of $60,000,000 from its IPO, with an additional $9,000,000 from the full exercise of the over-allotment option[104] - The Company incurred total underwriting discounts of $1,380,000 and additional costs of $550,000 related to the IPO[107] Business Operations and Future Plans - The Company has not yet commenced any operations and will not generate operating revenue until after completing its initial business combination[16] - A definitive Business Combination Agreement was entered into on June 19, 2024, for a merger with United Hydrogen Group Inc. and its subsidiaries[28] - The Company has until 12 months from the closing of the Initial Public Offering to complete a business combination, with a possible extension of up to 24 months[24] - The Company will provide public shareholders the opportunity to redeem their shares for a pro rata portion of the Trust Account upon completion of the business combination[20] - Management believes that the company will have sufficient working capital to meet anticipated cash needs prior to the initial business combination[93] - The company may need additional financing to complete its business combination or to redeem a significant number of public shares[93] Shareholder Information - The Company has 6,900,000 ordinary shares subject to possible redemption, presented at redemption value as temporary equity[44] - The initial shareholders will collectively own approximately 20% of the Company's issued and outstanding shares after the Initial Public Offering, assuming no additional Public Shares are purchased[72] - As of September 30, 2024, there were 2,126,000 ordinary shares issued and outstanding, excluding 6,900,000 ordinary shares subject to possible redemption[73] Related Party Transactions - The Company has borrowed $210,151 under a promissory note from the Sponsor, which was fully repaid on December 7, 2023[67] - As of September 30, 2024, the Company had a total amount due to related parties of $88,763 for general and administrative services[69] - The Sponsor has agreed to provide administrative services at a cost of $10,000 per month for up to 12 months, with an unpaid balance of $90,000 as of September 30, 2024[70] Compliance and Reporting - The Company is classified as an emerging growth company, allowing it to take advantage of certain exemptions from reporting requirements[36] - The Chief Executive Officer and Chief Financial Officer have certified compliance with the Sarbanes-Oxley Act of 2002[113] - The report includes various Inline XBRL documents for enhanced financial reporting[111] Other Financial Information - The Company has not experienced losses on its cash account, which at times may exceed the Federal depository insurance coverage of $250,000[54] - The Company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2024[96] - The Company has amended and restated its Memorandum and Articles of Association as of December 6, 2023[111]
Aimei Health Technology(AFJK) - 2024 Q2 - Quarterly Report
2024-08-09 12:00
Financial Performance - The company achieved a net income of $609,092 for the three months ended June 30, 2024, compared to a net loss of $3,618 for the same period in 2023[6]. - Basic and diluted net income per share attributable to ordinary shares not subject to possible redemption was $0.07 for the three months ended June 30, 2024, compared to $0.00 for the same period in 2023[6]. - The Company reported a net income of $1,364,592 for the six months ended June 30, 2024, compared to a net loss of $3,618 for the same period in 2023[39]. - Basic and diluted net income per share for the six months ended June 30, 2024, was $0.15, while for the period from April 27, 2023, to June 30, 2023, it was $(0.00)[41]. - For the six months ended June 30, 2024, the company reported a net income of $1,364,592, consisting of dividend income of $1,827,338 offset by formation and operational costs of $462,746[71]. Shareholder Equity and Liabilities - As of June 30, 2024, Aimei Health Technology Co., Ltd. reported a total shareholders' deficit of $596,870, a significant increase from $134,124 as of December 31, 2023[5]. - Total liabilities as of June 30, 2024, amounted to $71,921,531, up from $70,470,565 as of December 31, 2023[5]. - The Company had working capital of $93,130 as of June 30, 2024[23]. - The Company had a total amount due to related party of $51,803 as of June 30, 2024, for costs related to general and administrative services[53]. - The company had no long-term debt, capital lease obligations, or long-term liabilities as of June 30, 2024[78]. Initial Public Offering (IPO) - Aimei Health Technology completed its Initial Public Offering on December 6, 2023, raising gross proceeds of $69,000,000 from the sale of 6,900,000 units[12]. - The underwriters received a cash underwriting discount of 2% of the gross proceeds from the Initial Public Offering, amounting to $1,380,000[63]. - The company incurred offering costs of $2,070,665 and $690,000 for deferred underwriting commissions related to its Initial Public Offering[12]. - The underwriters are entitled to a deferred fee of $690,000, which is 1.0% of the gross proceeds, payable upon the closing of a business combination[78]. - The initial shareholders will collectively own approximately 20% of the company's issued and outstanding shares after the Initial Public Offering[55]. Trust Account and Investments - As of June 30, 2024, the Company had $71,717,186 in its Trust Account and $157,505 in its operating bank account[23]. - The estimated fair value of investments held in the Trust Account increased from $69,889,848 as of December 31, 2023, to $71,717,186 as of June 30, 2024[33]. - As of June 30, 2024, the Company had $71,717,186 in money market funds invested in U.S. Treasury, categorized as Level 1 fair value measurement[44]. - The company placed $69.69 million of net proceeds from the IPO and private placement into a Trust Account[86]. Business Operations and Future Plans - The company has not yet commenced any operations and will not generate operating revenue until after completing its initial business combination[11]. - Aimei Health Technology intends to target small cap companies in the healthcare innovation sector for potential business combinations[10]. - The Company has until 12 months from the closing of the Initial Public Offering to complete a business combination, with a possible extension of up to 24 months[18]. - The Company will redeem 100% of the outstanding Public Shares if it fails to complete a business combination within the Combination Period[18]. - The company entered into a definitive Business Combination Agreement with United Hydrogen Group Inc. on June 19, 2024[69]. Management and Governance - The Sponsor has agreed to vote in favor of any proposed business combination and not to redeem any shares in connection with such a vote[17]. - The Company has not specified a maximum redemption threshold but will not redeem shares if it causes net tangible assets to fall below $5,000,001[34]. - Management has determined that failure to complete an initial business combination raises substantial doubt about the company's ability to continue as a going concern[76]. - The company is classified as an "emerging growth company" and may take advantage of certain exemptions from reporting requirements[28]. Tax and Regulatory Matters - The company is currently not subject to income taxes in the Cayman Islands or the United States, resulting in no provision for income taxes for the six months ended June 30, 2024[37]. - There were no unrecognized tax benefits as of June 30, 2024, and no amounts were accrued for interest and penalties during the three and six months ended June 30, 2024[36].
Aimei Health Technology(AFJK) - 2024 Q1 - Quarterly Report
2024-05-13 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41880 AIMEI HEALTH TECHNOLOGY CO., LTD. (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisdic ...
Aimei Health Technology(AFJK) - 2023 Q4 - Annual Report
2024-03-25 20:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ________________ Commission file number: 001-41880 AIMEI HEALTH TECHNOLOGY CO., LTD. (Exact name of registrant as specified in its charter) Cayman Islands N/A | (S ...
Aimei Health Technology(AFJK) - Prospectus(update)
2023-10-27 19:25
As filed with the U.S. Securities and Exchange Commission on October 27, 2023 Registration No. 333-272230 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 5 TO FORM S-1 THE SECURITIES ACT OF 1933 REGISTRATION STATEMENT UNDER AIMEI HEALTH TECHNOLOGY CO., LTD The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Re ...
Aimei Health Technology(AFJK) - Prospectus(update)
2023-10-06 16:24
As filed with the U.S. Securities and Exchange Commission on October 6, 2023 Registration No. 333-272230 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 4 TO FORM S-1 REGISTRATION STATEMENT (Exact name of registrant as specified in its charter) | Cayman Islands | 6770 | N/A | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. Employer | | incorporation or organization) | Classification Code Number) | Identification Number) | | ...
Aimei Health Technology(AFJK) - Prospectus(update)
2023-08-31 19:45
As filed with the U.S. Securities and Exchange Commission on August 31, 2023 Registration No. 333-272230 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AIMEI HEALTH TECHNOLOGY CO., LTD (Exact name of registrant as specified in its charter) | Cayman Islands | 6770 | N/A | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. Employer | | incorporation or organi ...
Aimei Health Technology(AFJK) - Prospectus(update)
2023-08-17 19:43
As filed with the U.S. Securities and Exchange Commission on August 17, 2023 Registration No. 333-272230 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AIMEI HEALTH TECHNOLOGY CO., LTD (Exact name of registrant as specified in its charter) | Cayman Islands | 6770 | N/A | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. Employer | | incorporation or organi ...
Aimei Health Technology(AFJK) - Prospectus(update)
2023-07-22 01:30
THE SECURITIES ACT OF 1933 AIMEI HEALTH TECHNOLOGY CO., LTD As filed with the U.S. Securities and Exchange Commission on July 21, 2023 Registration No. 333-272230 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER (Exact name of registrant as specified in its charter) | Cayman Islands | 6770 | N/A | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. Employer | | incorporation or organiza ...
Aimei Health Technology(AFJK) - Prospectus
2023-05-26 18:09
As filed with the U.S. Securities and Exchange Commission on May 26, 2023 Registration No. 333-[ ] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AIMEI HEALTH TECHNOLOGY CO., LTD (Exact name of registrant as specified in its charter) Cayman Islands 6770 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) Aime ...