Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,109,102, driven by earnings on investments held in the Trust Account of $2,253,765 [112]. - From January 22, 2025, through September 30, 2025, the company generated a net income of $1,701,230, with total earnings on investments of $2,352,074 [113]. Initial Public Offering - The company completed its Initial Public Offering on June 26, 2025, raising gross proceeds of $215,625,000 from the sale of 21,562,500 Units at $10.00 per Unit [114]. - The company incurred $12,386,896 in costs related to the Initial Public Offering, including $4,312,500 in cash underwriting fees [115]. Investments and Cash Position - As of September 30, 2025, the company had investments in the Trust Account totaling $217,977,074, primarily in money market funds [117]. - As of September 30, 2025, the company had cash of $902,429 available for operational activities and due diligence on target businesses [118]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025 [121]. Operational Activities - Cash used in operating activities from January 22, 2025, through September 30, 2025, amounted to $398,341, influenced by compensation expenses of $372,000 [116]. - The company plans to utilize substantially all funds in the Trust Account to complete its Business Combination [117]. - The company does not anticipate needing to raise additional funds to meet its operating expenditures within the next year [120].

Financial Performance - The company reported a net loss of $360,686 for the three months ended June 30, 2025, primarily due to general and administrative costs of $87,167 and compensation expense of $372,000, offset by earnings on investments of $98,309 [111]. - Cash used in operating activities from January 22, 2025, through June 30, 2025, was $62,454, with a net loss of $407,872 impacted by earnings on investments of $98,309 [115]. - The company does not expect to generate operating revenues until after the completion of its Business Combination [110]. Initial Public Offering - Total gross proceeds from the Initial Public Offering amounted to $215,625,000, following the full exercise of the underwriters' over-allotment option of 2,812,500 units [113]. - The company incurred $12,386,896 in Initial Public Offering related costs, which included $4,312,500 in cash underwriting fees and $7,546,875 in deferred underwriting fees [114]. Investments and Cash Position - As of June 30, 2025, the company had investments held in the Trust Account totaling $215,723,309, consisting of mutual funds invested in money market funds [116]. - The company had cash of $1,140,316 as of June 30, 2025, intended for identifying and evaluating target businesses and conducting due diligence [117]. - The company plans to use substantially all funds in the Trust Account to complete its Business Combination and for working capital of the target business [116]. Financial Stability - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025, and incurs monthly fees of $10,000 for office space and administrative support [120][121]. - Management believes the company has sufficient funds to finance its working capital needs within one year from the date of the financial statement issuance [119].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | | | Name of each exchange | | --- | --- | --- | | Title of each class | Trading Symbol(s) | on which registered | | Units, each consisting of one Class A | LWACU | T ...