FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 ☐ 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 001-41108 Capitalworks Emerging Markets Acquisition Corp (Exact name of registrant as specified in its charter) Cayman Islands (State or other jurisdiction of incorporation or organ ...

The accompanying notes are an integral part of the unaudited condensed financial statements. 6 Capitalworks Emerging Markets Acquisition Corp (the "Company") was incorporated in the Cayman Islands on April 20, 2021. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the "Business Combination"). The Company is not limited to a particular industry or sector for purp ...

UNITED STATES FORM 10-Q Table of Contents | --- | --- | --- | |-----------|------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | Page | | PART 1 | – FINANCIAL INFORMATION | 3 | | Item 1. | Financial Statements | | | | Condensed Balance Sheets as of June 30, 2023 (Unaudited) and March 31, 2023 | 3 | | | Unaudited Condensed Statements of Operations for the Three Months Ended June 30, 2023 and 2022 | ...

On May 23, 2023, we held the 2023 Extraordinary Meeting at which our shareholders approved, among other things, an amendment to our Amended and Restated Memorandum and Articles of Association to extend the date by which we must consummate an Initial Business Combination to March 3, 2024, and to permit our Board, in its sole discretion, to elect to wind up our operations on an earlier date than March 3, 2024. In connection with the vote to approve the Extension, the holders of 18,751,603 Class A Ordinary Sha ...

Financial Performance - For the nine months ended December 31, 2022, the company reported a net income of $5,459,292, driven by a gain on the change in fair value of the derivative warrant liability of $3,709,680 and interest income of $3,305,210 [196]. - For the three months ended December 31, 2022, the company achieved a net income of $3,328,008, resulting from a gain on the change in fair value of the derivative warrant liability of $1,621,680 and interest income of $1,959,780 [207]. - The company has not generated any operating revenues to date and does not expect to do so until after completing its initial Business Combination [195]. Cash and Expenses - The company had cash of $260,143 held outside the Trust Account as of December 31, 2022, intended for identifying and evaluating target businesses and related expenses [211]. - The company incurred and paid $120,000 in expenses for office space and administrative support during the nine months ended December 31, 2022 [217]. - As of December 31, 2022, the Company had incurred unpaid legal fees of approximately $242,928, which will only become due upon the consummation of a Business Combination [230]. Debt and Financing - As of December 31, 2022, the company had no amounts outstanding under any Working Capital Loans [198]. - The company has no long-term debt obligations or off-balance sheet financing arrangements as of December 31, 2022 [214][202]. - The cash underwriting discount paid to the underwriter was $0.20 per Unit, totaling $4,600,000, with a deferred fee of $0.35 per Unit, amounting to $8,050,000 in aggregate [220]. Business Combination and Agreements - The company intends to extend the deadline for consummating a Business Combination from March 3, 2023, to December 3, 2023, pending shareholder approval [206]. - The Company plans to hold an extraordinary general meeting on February 24, 2023, to approve an amendment to extend the deadline for consummating a Business Combination from March 3, 2023, to December 3, 2023 [232]. - The Forward Purchase Agreement allows for the purchase of up to $20,000,000 of units, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant [229]. Transaction Costs and Fees - The company’s transaction costs amounted to $13,428,526 as of December 3, 2021, including $4,600,000 in underwriting fees and $8,050,000 in deferred underwriting fees [215]. - The deferred fee to the underwriter will only be payable from amounts held in the Trust Account if a Business Combination is completed [228]. - The Company recognized a charge of $1,532,700 for the excess fair value of Private Placement Warrant liabilities over the proceeds received upon issuance [236]. Regulatory and Compliance - The Class A ordinary shares are subject to SEC guidance on redeemable equity instruments, which may affect their classification as permanent equity [224]. - The Company will bear the expenses incurred in connection with the filing of registration statements for the securities held by the holders of Class B ordinary shares and warrants [218]. Underwriter Activities - The underwriter exercised the over-allotment option, purchasing an additional 3,000,000 Units at an offering price of $10.00 per Unit, generating additional gross proceeds of $30,000,000 [219]. Interest Rates - The risk-free interest rate increased from 1.53% to 4.20% from March 31, 2022, to December 31, 2022 [192]. Consulting Agreements - The Company entered into a consulting agreement with a Strategic Advisor, which includes a Capital Markets Advisory Fee of $1,500,000 plus an Incremental Advisory Fee based on Trust Proceeds, potentially totaling up to $2,500,000 [231].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ 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 001-41108 Capitalworks Emerging Markets Acquisition Corp (Exact name of registrant as spec ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ 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 001-41108 | --- | --- | |---------------------------------------------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2022 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: 001-41108 Capitalworks Emerging Markets Acquisition Corp (Exact Name of Registrant as Specified in Its Charter) (Address ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 ☐ 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 001-41108 | --- | --- | |------------------------------------------------------------------ ...