Financial Performance and Projections - Veea has not generated significant revenue from product sales and anticipates continuing to incur significant losses for the foreseeable future[93]. - The company has suffered recurring losses since inception and is unable to predict future profitability[94]. - Veea expects to incur significant operating losses over the next several years due to high sales, marketing, and manufacturing expenses[94]. - Veea's future operating results may fluctuate significantly due to various unpredictable factors[96]. - Veea's ability to generate revenue is dependent on various factors, including competition and market demand[97]. - The company expects to provide guidance on future financial performance, including sales projections and anticipated revenues, but acknowledges the inherent uncertainty in these predictions[243]. Market Conditions and Competition - The market for Veea's platform and products is relatively new and highly competitive, with uncertain growth forecasts[93]. - Veea faces significant competition in terms of pricing, functionality, and service quality, which could lead to reduced profit margins and loss of market share[114]. - The market for edge computing is in an early stage, and widespread adoption of Veea's platform is uncertain[107]. - Veea's sales depend heavily on government and commercial enterprise organizations, which may base purchasing decisions on factors beyond platform features, impacting revenue generation[117]. - Global economic conditions, including tariffs and political uncertainty, could negatively impact demand for Veea's products and services, potentially leading to reduced revenues[143]. Operational Risks and Challenges - Veea's growth may be hindered by its ability to manage expansion effectively and retain necessary personnel[111]. - The sales cycle for Veea's platforms is long and unpredictable, often lasting many months, which can lead to fluctuations in operational results[116]. - Veea's growth is challenged by the need to attract and retain qualified personnel to support its expanding customer base, which may strain service teams[119]. - Errors or bugs in Veea's platforms can lead to significant revenue loss and damage to market perception, especially in critical applications[122]. - Disruptions in operations due to natural disasters or other events could materially harm Veea's business and financial condition[131]. Intellectual Property and Legal Risks - The company may face significant risks related to intellectual property claims and cybersecurity incidents[95]. - Veea is actively pursuing patent protection for its products, as failure to secure adequate patent rights could harm its competitive position[156]. - The uncertainty surrounding Veea's patent rights could limit its ability to prevent competitors from commercializing similar technologies[159]. - Veea's patents may be challenged in courts or patent offices, potentially leading to reduced scope or invalidation of its patent rights[160]. - The company may encounter claims that its employees or consultants have wrongfully used trade secrets from previous employers, leading to potential litigation[174]. Cybersecurity and Compliance - Cybersecurity incidents could materially affect Veea's business, operations, and reputation, leading to potential litigation or regulatory actions[187]. - Veea's operations are vulnerable to data breaches and unauthorized access, which could result in significant liabilities and damage to its reputation[186]. - Compliance with evolving laws and regulations, such as GDPR and California consumer privacy laws, may increase operational costs and impact business practices[197]. - Veea is subject to compliance with various laws and regulations related to privacy, data protection, and cybersecurity, which could lead to significant liabilities and affect its financial condition[198]. Corporate Governance and Shareholder Matters - Veea's stock price may experience volatility due to various factors, including market conditions and operational performance, which could affect investors' ability to resell shares at attractive prices[206]. - The company filed a registration statement with the SEC for the 2024 Incentive Equity Plan, reserving 4,460,437 shares of Common Stock for future issuance, which may dilute existing ownership[211]. - Veea's governance documents contain anti-takeover provisions that could limit stockholder actions and delay potential acquisitions[250]. - The company is classified as an "emerging growth company" and a "smaller reporting company," which allows it to take advantage of certain exemptions from disclosure requirements, potentially making its securities less attractive to investors[220][222]. - Veea's ability to issue additional securities and obtain financing may be adversely impacted by a decline in its stock price[242].

Financial Performance - Veea incurred net losses of approximately $33.3 million and $46.4 million for the three and nine months ended September 30, 2024, respectively[140]. - The company incurred net losses of $46.6 million and $9.4 million for the nine months ended September 30, 2024, and 2023, respectively, with an accumulated deficit of $216.9 million as of September 30, 2024[168]. - Adjusted EBITDA for the three months ended September 30, 2024, was $(2,331,722), compared to $3,505,189 for the same period in 2023[170]. - The company expects to continue incurring net losses as it grows and scales its business[168]. Revenue Generation - Veea generated net revenue of approximately $51,000 and $108,000 for the three and nine months ended September 30, 2024, respectively, compared to approximately $9,000 and $40,000 for the same periods in 2023[140]. - Veea's revenue primarily comes from the sale of VeeaHub devices, licenses, and subscriptions[140]. - The Company generated revenue of $50,683 for the three months ended September 30, 2024, a decrease of 99% compared to $9,009,254 for the same period in 2023[155]. - For the nine months ended September 30, 2024, revenue was $108,264, down 99% from $9,040,359 in 2023, primarily due to $9 million recognized from the license of AdEdge™ in 2023[155]. - The Company expects revenue to grow over the next several quarters through sales of hardware, licenses, and subscriptions, focusing on four principal market opportunities[155]. Expenses - Total operating expenses for the three months ended September 30, 2024, were $57,533,067, a 922% increase compared to $5,631,507 for the same period in 2023[153]. - Cost of goods sold decreased by approximately $9,310, or 38%, for the three months ended September 30, 2024, compared to the same period in 2023[156]. - Cost of goods sold increased by $10,524, or 22%, for the nine months ended September 30, 2024, compared to the same period in 2023[156]. - Product development expenses increased by $170,997, or 92%, for the three months ended September 30, 2024, compared to the same period in 2023[157]. - Product development expenses increased by $476,327, or 70%, for the nine months ended September 30, 2024, compared to the same period in 2023[157]. - Sales and marketing expenses decreased by $57,006, or 41%, for the three months ended September 30, 2024, compared to the same period in 2023[158]. - Sales and marketing expenses increased by $160,211, or 54%, for the nine months ended September 30, 2024, compared to the same period in 2023[158]. - General and administrative expenses decreased by $3.2 million, or 62%, for the three months ended September 30, 2024, compared to the same period in 2023[159]. - Depreciation and amortization decreased by $7,588, or 10%, for the three months ended September 30, 2024, and by $529,195, or 72%, for the nine months ended September 30, 2024, compared to the same periods in 2023[162]. - Interest expense decreased by $1.3 million, or 75%, for the three months ended September 30, 2024, and by $3.1 million, or 69%, for the nine months ended September 30, 2024, compared to the same periods in 2023[167]. Financing and Capital Structure - The Company raised $1.45 million from the issuance of convertible promissory notes as part of a private placement offering of up to $15 million[144]. - The September 2024 Notes have a maturity date of 18 months after the Financing Closing and accrue interest at a rate equal to the Secured Overnight Financing Rate plus 2% per annum[144]. - As of September 30, 2024, the company had cash of $2.8 million and outstanding debt of $14.15 million[168]. Business Developments - The Business Combination with Plum Acquisition Corp. I was completed on September 13, 2024, resulting in Veea Inc. becoming a wholly owned subsidiary of Plum[141]. - Veea was recognized by Gartner in 2023 as a Leading Smart Edge Platform and named a Cool Vendor in Edge Computing in 2021[140]. - The Company was named one of the top 10 Edge AI solution providers in a report published in October 2023[140]. - The Company aims to address underserved communities lacking Internet connectivity through its Veea Edge Platform[140]. Contingent Liabilities - The initial value of the contingent earn-out share liability was recorded at $53.6 million for the three and nine months ended September 30, 2024[161]. - The change in fair value of earn-out share liability resulted in a loss of $24.8 million for the three and nine months ended September 30, 2024[165]. Tax Credits - The company received an R&D tax credit of $1.2 million from its UK subsidiary[164].

Financial Performance - For the three months ended June 30, 2024, the company reported an income of $3,225,787, with a loss from operations of $789,241 and other income of $4,015,028 [143]. - For the six months ended June 30, 2024, the company had a loss of $981,242, including a loss from operations of $1,708,374 and other income of $727,132 [144]. Trust Account and Cash Position - As of June 30, 2024, the company held $36,591,026 in the Trust Account and $1,969 in cash outside the Trust Account [146]. Business Combination - The company executed a Business Combination Agreement with Veea Inc. on November 27, 2023, and is working towards closing the business combination [141]. - The company plans to use funds held outside the Trust Account to complete the initial business combination with Veea Inc. [155]. - The company extended the Articles Extension Termination Date to September 14, 2024, to allow more time for the business combination [143]. - If the business combination is not completed by September 14, 2024, the company will cease operations except for liquidation purposes [159]. Shareholder Actions - An aggregate of 2,662,592 Class A ordinary shares were tendered for redemption at the BC EGM, totaling $29,926,030 [142]. - The company sold 31,921,634 units at $10.00 per unit, generating gross proceeds of $319,216,340 [148]. - All 31,921,634 Class A ordinary shares have a redemption feature, classified outside of permanent equity [167]. Costs and Liabilities - The company incurred $18,336,269 in Initial Public Offering related costs, including $6,384,327 in underwriting fees [149]. - The company has incurred significant costs related to its acquisition plans, raising doubts about its ability to continue as a going concern [158]. - As of June 30, 2024, the company has no off-balance sheet arrangements, obligations, assets, or liabilities [160]. - The company does not have any long-term debt, capital lease obligations, or long-term liabilities [161]. Accounting and Financial Instruments - Management applies significant judgments in accounting estimates, particularly regarding the fair value of warrant liabilities and conversion options [162]. - Warrant liabilities are classified as liabilities and recorded at fair value, with changes recognized as non-cash gains or losses [163]. - The company accounts for embedded conversion options in convertible notes as separate derivative financial instruments [164]. - The initial fair value of the subscription liability was estimated using a Black Scholes model [166]. - The diluted net income (loss) per common share is the same as basic net income (loss) per common share due to contingently exercisable warrants [168].

Financial Performance - For the three months ended March 31, 2024, the company reported a net loss of $4,207,029, which included an operating loss of $919,133 and other expenses of $3,287,896[150]. - Cash used in operating activities for the three months ended March 31, 2024, was $401,863, compared to $238,590 for the same period in 2023[163][164]. - The potential ordinary shares for outstanding warrants were excluded from diluted earnings per share for the periods ended March 31, 2024, and 2023[178]. Trust Account and Funds - As of March 31, 2024, the company held $36,106,898 in the Trust Account, which includes $9,870,130 of income[162]. - The company intends to use substantially all funds in the Trust Account to acquire a target business and cover related expenses[165]. Public Offering and Share Redemption - The company generated gross proceeds of $319,216,340 from the sale of 31,921,634 units at $10.00 per unit during its Public Offering[156]. - A total of 26,693,416 Class A ordinary shares were redeemed at a price of $10.23 per share, resulting in an aggregate redemption amount of $273,112,311[156]. - All 31,921,634 Class A ordinary shares sold in the Public Offering contain a redemption feature, requiring classification outside of permanent equity[177]. Business Combination - The company has executed a Business Combination Agreement with Veea Inc. and is working towards closing the business combination[149]. - Management has raised substantial doubt about the company's ability to continue as a going concern if the Business Combination is not completed by June 18, 2024[168]. - The company has committed to obtaining additional financing if necessary to complete the Business Combination or to address potential redemptions of public shares[167]. Financial Position and Liabilities - The company has no off-balance sheet arrangements as of March 31, 2024[169]. - The company does not have any long-term debt, capital lease obligations, or long-term liabilities[171]. - The company has not entered into any off-balance sheet financing arrangements or established any special purpose entities[170]. Accounting and Reporting - The company accounts for its convertible promissory note under ASC 815, recording it at its initial fair value on the date of issuance[175]. - The initial fair value of the subscription liability was estimated using a Black Scholes and Probability Weighted Expected Return Model[176]. - The company does not believe the adoption of ASU 2023-09 will have a material impact on its financial statements[179]. - Management does not believe that any recently issued accounting standards will have a material effect on the financial statements[180]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[181].

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 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 PLUM ACQUISITION CORP. I (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 2021 Fillmore St. #2 ...

Financial Performance - For the three months ended September 30, 2023, the company reported a loss from operations of $353,372 and recognized other expenses totaling $4,252,471[158]. - For the nine months ended September 30, 2023, the company had a loss from operations of $2,085,609, with other income of $1,035,971[160]. - Cash used in operating activities for the nine months ended September 30, 2023, was $709,623, with a net loss of $1,049,638[171]. - Management has raised substantial doubt about the company's ability to continue as a going concern due to significant costs in pursuit of acquisition plans[175]. - The Company must complete a Business Combination by December 18, 2023, or face mandatory liquidation, raising substantial doubt about its ability to continue as a going concern[176]. Trust Account and Cash Position - As of September 30, 2023, the company held $35,096,667 in the Trust Account, including $9,039,899 of income[170]. - As of September 30, 2023, the company had cash outside the Trust Account of $92,722 available for working capital needs[164]. - The company intends to use substantially all funds in the Trust Account to acquire a target business and cover related expenses[173]. - The company has received commitments for Working Capital Loans totaling $1,000,000 as of September 30, 2023[174]. Costs and Liabilities - The company incurred $18,336,269 in Initial Public Offering related costs, including $6,384,327 of underwriting fees[166]. - As of September 30, 2023, the Company has no off-balance sheet arrangements, obligations, assets, or liabilities[177]. - The Company does not have any long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities[179]. Accounting and Financial Reporting - The Company accounts for its warrants as liability-classified instruments, impacting the balance sheet and requiring fair value assessments[181]. - The convertible promissory note is recorded at fair value, with changes recognized as non-cash gains or losses in the statements of operations[182]. - All 31,921,634 Class A ordinary shares have a redemption feature, classified outside of permanent equity due to non-controllable redemption provisions[183]. - The diluted net (loss) income per common share is the same as basic net (loss) income per common share for the periods ended September 30, 2023, due to contingencies not being met[184]. - Management does not anticipate that recently issued accounting standards will materially affect the Company's financial statements[185]. - The Company is classified as a smaller reporting company and is not required to provide extensive market risk disclosures[186]. Business Combination and Future Plans - The company has extended the deadline to consummate a business combination transaction to June 18, 2024[157].

Financial Performance - For the three months ended June 30, 2023, the company reported a loss from operations of $578,954 and recognized other income of $4,847,438, which included an unrealized loss on warrant liabilities of $1,978,245 [150]. - For the six months ended June 30, 2023, the company had a loss from operations of $1,732,236, with other income totaling $5,288,442, including an unrealized loss on warrant liabilities of $44,241 [151]. - Cash used in operating activities for the six months ended June 30, 2023, was $431,465, with net income of $3,556,206 primarily offset by various unrealized losses and interest expenses [165]. Trust Account and Cash Position - As of June 30, 2023, the company held $55,154,617 in the Trust Account, which included $8,410,589 of income [164]. - As of June 30, 2023, the company had cash outside the Trust Account of $20,880 available for working capital needs [156]. - The company intends to use substantially all funds held in the Trust Account to acquire a target business and cover related expenses [167]. Business Combination and Operations - The company has extended the deadline to consummate a business combination transaction to September 18, 2023, following the termination of a previous agreement [149]. - If the company cannot complete a Business Combination by September 18, 2023, it will cease operations except for liquidation purposes [171]. - The company has incurred significant costs related to its acquisition plans, raising doubts about its ability to continue as a going concern [170]. Shareholder Transactions - A total of 26,693,416 Class A ordinary shares were redeemed for cash at a redemption price of $10.23 per share, amounting to an aggregate redemption of $273,112,311.62 [157]. - The company generated gross proceeds of $319,216,340 from the sale of 31,921,634 units at $10.00 per unit during its Public Offering [157]. - All 31,921,634 Class A ordinary shares have a redemption feature, requiring classification outside of permanent equity [180]. Costs and Liabilities - The company incurred $18,336,269 in Initial Public Offering related costs, including $6,384,327 of underwriting fees [158]. - As of June 30, 2023, the company has no off-balance sheet arrangements or long-term liabilities [172][174]. Accounting and Financial Reporting - The company accounts for its warrants as liability-classified instruments, impacting the financial statements based on fair value assessments [176][178]. - The company has two classes of shares, with earnings and losses shared pro rata between Class A and Class B ordinary shares [181]. - Management does not anticipate that recently issued accounting standards will materially affect the financial statements [182].

Financial Performance - For the three months ended March 31, 2023, the company reported a loss from operations of $1,153,282, compared to a loss of $509,076 for the same period in 2022[146][147]. - Cash used in operating activities for the three months ended March 31, 2023, was $238,590, compared to $339,506 for the same period in 2022[158][159]. - The company has incurred significant costs related to its acquisition plans, raising doubts about its ability to continue as a going concern[163]. Trust Account and Cash Position - As of March 31, 2023, the company held $54,368,297 in the Trust Account, which includes $7,784,269 of income[157]. - As of March 31, 2023, the company had cash outside the Trust Account of $97,811 available for working capital needs[151]. Public Offering and Shareholder Activity - The company generated gross proceeds of $319,216,340 from the sale of 31,921,634 units at $10.00 per unit during its Public Offering[152]. - Holders of 26,693,416 Class A ordinary shares redeemed their shares for cash at a redemption price of $10.23 per share, totaling $273,112,311.62[152]. - All 31,921,634 Class A ordinary shares sold in the Public Offering contain a redemption feature, classified outside of permanent equity[173]. Business Combination and Agreements - The company entered into a Business Combination Agreement with Sakuu Corporation, with an aggregate equity value of $600,000,000 to be exchanged for shares of Common Stock[145][141]. - The company has issued unsecured promissory notes totaling $1,250,000 to various individuals, which are repayable upon consummation of a Business Combination[154][155][156]. - If the company cannot complete a Business Combination by June 18, 2023, or March 18, 2024, it will cease operations except for liquidation purposes[164]. Costs and Accounting - The company incurred $18,336,269 in Initial Public Offering related costs, including $6,384,327 in underwriting fees[153]. - Management does not anticipate that recently issued accounting standards will materially affect the company's financial statements[175]. - The potential ordinary shares from outstanding warrants were excluded from diluted earnings per share for the three months ended March 31, 2023, due to unmet contingencies[174]. Equity and Liabilities - The company has no off-balance sheet arrangements or long-term debt as of March 31, 2023[166][168]. - The company recognizes changes in the redemption value of shares immediately and adjusts the carrying value at the end of each reporting period[173].

Business Combination Agreement - Plum Acquisition Corp. I is set to enter a Business Combination Agreement with Sakuu Corporation, valued at $600 million, with equity holders receiving shares based on this valuation[29][33]. - The Business Combination will involve a change of jurisdiction to Delaware and a name change to "Sakuu Holdings, Inc."[30]. - On March 15, 2023, shareholders approved an extension of the business combination deadline to June 18, 2023, with the possibility of further monthly extensions until March 18, 2024[34]. - The company plans to structure its initial business combination so that the post-business combination entity will own or acquire 100% of the equity interests or assets of the target business[77]. - The company will only complete its initial business combination if a majority of ordinary shares voted in favor at a shareholder meeting[118]. - The company has a mandatory liquidation date of June 18, 2023, unless extended by the Board to complete a business combination[217]. Financial Position and Shareholder Rights - 26,693,416 Class A ordinary shares were redeemed at a price of $10.23 per share, totaling approximately $273.1 million[35]. - The company has approximately $54 million available for a business combination held in the Trust Account, providing options for liquidity events, growth capital, or balance sheet strengthening[87]. - The initial amount in the trust account is anticipated to be $10.00 per public share, providing redemption rights for public shareholders upon completion of the initial business combination[114]. - Public shareholders may redeem their shares irrespective of their voting decision, with a limit of 15% on excess shares without prior consent[121]. - If the initial business combination is not completed within 27 months, the company will cease operations and redeem public shares at a price equal to the amount in the trust account[131]. - The per-share redemption amount upon dissolution is expected to be $10.00, but actual amounts may vary due to creditor claims[135]. - The company may conduct redemptions either in connection with a shareholder meeting or by means of a tender offer[116]. - Public shareholders can redeem their shares for cash only if the initial business combination is not completed within 27 months, extendable to 36 months[141]. - The company expects to incur costs up to approximately $100,000 related to potential claims and expenses in the event of liquidation[138]. - If bankruptcy occurs, the trust account proceeds may be subject to claims from creditors, potentially reducing the per-share redemption price below $10.00[139]. Management Team and Expertise - The management team has extensive experience, with Kanishka Roy having participated in over $100 billion in M&A transactions and Mike Dinsdale securing over $1 billion in financing[44][45]. - The management team includes Ursula Burns, the first African American woman to lead an S&P 500 company, enhancing the company's credibility and leadership[25][43]. - Lane Bess helped scale Palo Alto Networks to a revenue run rate exceeding $200 million before its IPO and grew Trend Micro's worldwide revenues to over $1 billion annually[48]. - Kelly Breslin Wright grew Tableau's revenue from zero to over $800 million and managed over half of its global team during its expansion to 3,400 employees[50]. - Jennifer Ceran was recognized as one of the "100 Most Influential People in Finance" from 2006 to 2009 and received the Puget Sound Business Journal CFO of the Year award in 2017[51]. - Alok Sama led significant transactions at SoftBank, including the $59 billion merger of Sprint and T-Mobile and the $34 billion acquisition of ARM Holdings[52]. - Kevin Turner oversaw global sales and marketing at Microsoft, delivering over $91.9 billion in revenue in fiscal 2016[53]. Investment Strategy and Market Focus - Plum aims to partner with high-quality companies in sectors like enterprise software, fintech, and health, focusing on those with machine learning and AI-driven advantages[26][27]. - The company aims to invest in businesses with large addressable markets, which have historically led to compelling long-term growth[6]. - The company will focus on acquiring companies with experienced and visionary management teams that align with its interests and vision[6]. - The company intends to utilize a decentralized and proprietary deal sourcing strategy to identify opportunities without relying on traditional banking channels[6]. - The company plans to carefully curate its IPO and PIPE investors, focusing on long-term investors with a track record of supporting high-quality growth companies[6]. - The company recognizes the potential conflicts of interest that may arise from its management team and board members owning shares in the company[72]. Operational Challenges and Risks - The company currently has no operating history or revenues, making it difficult for investors to evaluate its ability to achieve business objectives[153]. - The company may face challenges in completing its initial business combination due to limited financial resources compared to competitors[171]. - The company may face challenges in raising additional capital, which could hinder its ability to pursue business combinations[217]. - The company may face write-downs or impairments post-business combination, negatively impacting financial condition and securities value[187]. - The company may not have sufficient time to conduct due diligence on potential targets as it approaches its dissolution deadline, which could undermine the value of any business combination[163]. - The COVID-19 pandemic may adversely affect the company's search for a business combination and the operations of any target business[164]. - The company may face limitations in completing advantageous initial business combinations due to federal proxy rules requiring financial statement disclosures[210]. Governance and Compliance - The independent registered public accounting firm's report expresses substantial doubt about the company's ability to continue as a going concern[216]. - The company may not hold an annual meeting of shareholders until after the initial business combination is consummated[178]. - The Sponsor owns 20% of the issued and outstanding ordinary shares, potentially influencing shareholder votes[183]. - Amendments to governing instruments require significant shareholder approval, including a two-thirds majority for certain changes[182]. - The company may not hold annual meetings for director elections until after the initial business combination, allowing the Sponsor to maintain control[184]. - The company intends to avoid being deemed an "investment company" by restricting investments in the trust account to U.S. government securities or certain money market funds[215].

Financial Performance - For the three months ended September 30, 2022, the company reported a loss from operations of $633,050, with other income of $3,118,342, including an unrealized gain on warrant liabilities of $1,674,871[109]. - For the nine months ended September 30, 2022, the company had a loss from operations of $2,686,622, with other income of $10,422,422, which included an unrealized gain on warrant liabilities of $8,499,501[110]. - For the nine months ended September 30, 2022, cash used in operating activities was $748,365, with net income of $7,735,800 primarily offset by an unrealized gain on warrant liabilities[119]. Cash and Assets - As of September 30, 2022, the company held $321,155,523 in the Trust Account, with cash outside the Trust Account amounting to $108,859[113]. - The company generated gross proceeds of $319,216,340 from the sale of 31,921,634 units at $10.00 per unit during its Public Offering[116]. - The company incurred $18,336,269 in Initial Public Offering related costs, including $6,384,327 in underwriting fees[117]. - The company has committed to loan funds as needed, with $750,000 in Working Capital Loans issued as of September 30, 2022[122]. Business Operations and Risks - If the company cannot complete a Business Combination by March 18, 2023, it will cease operations and liquidate[125]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2022[126][127]. Accounting and Reporting - The company recognizes changes in the redemption value of its Class A ordinary shares immediately as they occur, affecting the carrying value of the security[132]. - Management does not believe that any recently issued accounting standards would have a material effect on the Company's unaudited condensed financial statements[134]. - The Company is classified as a smaller reporting company and is not required to provide additional market risk disclosures[135].