Financial Performance - For the three months ended March 31, 2025, the company reported a net income of $1,032,650, driven by dividends earned on investments held in the trust account of $1,749,366[129]. - For the three months ended March 31, 2025, net cash used in operating activities was $504,051, with net income affected by changes in fair value of warrant liabilities and dividends earned[135]. Initial Public Offering (IPO) - The company completed its initial public offering on November 22, 2024, raising gross proceeds of $166,000,000 from the sale of 16,600,000 Units at $10.00 per Unit[131]. - Following the IPO and the sale of private placement warrants, a total of $166,415,000 was placed in the trust account, after incurring $10,605,256 in related costs[132]. Trust Account and Investments - As of March 31, 2025, the company held $168,724,276 in mutual funds primarily invested in money market funds within the trust account[136]. - The company may withdraw interest earned in the trust account to fund working capital requirements, subject to an annual limit of 10% of interest earned[133]. Cash and Financing - The company had cash of $1,229,430 held outside the trust account, intended for identifying and evaluating target businesses[137]. - The company does not anticipate needing to raise additional funds for operating expenditures but may require additional financing for business combinations[139]. Advisory Services and Expenses - The company has entered into an advisory services agreement with Volta Tread LLC, incurring $189,915 in fees for the three months ended March 31, 2025[134]. - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2025, and has a monthly obligation of $30,000 for office space and administrative support[140][141].
Dynamix Corporation(DYNXU) - 2025 Q1 - Quarterly Report