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Oak Woods Acquisition Corp(OAKUU) - 2023 Q1 - Quarterly Report
2023-05-19 18:59
Financial Performance - As of March 31, 2023, the company reported a net loss of $17,984 for the three months ended, resulting from operating expenses of $43,943, offset by interest income of $25,959 [114]. - The company incurred net cash used in operating activities of $100,107 for the three months ended March 31, 2023, primarily due to a net loss and changes in operating assets and liabilities [116]. - The company has raised substantial doubt about its ability to continue as a going concern if it cannot complete a Business Combination within the specified period [119]. Initial Public Offering (IPO) - The company completed its IPO on March 28, 2023, raising gross proceeds of $57,500,000 from the sale of 5,750,000 units at $10.00 per unit [115]. - The underwriter received a cash underwriting discount of $1,150,000 and is entitled to a deferred fee of $2,012,500, payable only if a business combination is completed [128]. Cash and Working Capital - The company had cash of $967,356 held outside the Trust Account as of March 31, 2023, with working capital of $520,661 [118]. - The company intends to use substantially all funds held in the Trust Account to complete an initial business combination [120]. - The company has a promissory note from the sponsor totaling $380,340 as of March 31, 2023, with a loan of up to $500,000 for IPO expenses [125]. Business Operations - The company has not commenced any operations and does not expect to generate operating revenues until after completing a Business Combination [112]. - The company has incurred significant professional costs to remain publicly traded and expects to continue incurring transaction costs in pursuit of a Business Combination [118]. Accounting Standards - The Financial Accounting Standards Board (FASB) issued ASU 2020-06 to simplify accounting for certain financial instruments, effective January 1, 2024 [136]. - ASU 2020-06 eliminates the separation of beneficial conversion and cash conversion features from convertible instruments [136]. - The new standard introduces additional disclosures for convertible debt and freestanding instruments indexed to an entity's own equity [136]. - ASU 2020-06 amends diluted earnings per share guidance, requiring the use of the if-converted method for all convertible instruments [136]. - The company is currently assessing the impact of ASU 2020-06 on its financial position, results of operations, or cash flows [136]. - Management does not believe that other recently issued accounting standards will have a material effect on financial statements [137]. Market Risk - As a smaller reporting company, the company is not required to make disclosures about market risk [138].
Oak Woods Acquisition (OAKU) - Prospectus(update)
2023-03-20 18:44
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) As filed with the Securities and Exchange Commission on March 20, 2023. Registration No. 333-269862 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 Oak Woods Acquisition Corporation (Exact name of registrant as specified ...
Oak Woods Acquisition Corp(OAKUU) - Prospectus(update)
2023-03-20 18:44
As filed with the Securities and Exchange Commission on March 20, 2023. Registration No. 333-269862 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 Oak Woods Acquisition Corporation (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 ...
Oak Woods Acquisition Corp(OAKUU) - Prospectus(update)
2023-03-10 21:55
As filed with the Securities and Exchange Commission on March 10, 2023. Registration No. 333-269862 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Oak Woods Acquisition Corporation (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 ...
Oak Woods Acquisition Corp(OAKUU) - Prospectus
2023-02-17 21:27
As filed with the Securities and Exchange Commission on February 17, 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 Oak Woods Acquisition Corporation (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) Telephone: (+1) 403-561 ...