ESH Acquisition (ESHA) - 2023 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2023, the company reported a net income of $898,220, driven by interest income of$1,522,943 from investments held in the Trust Account[114]. - For the nine months ended September 30, 2023, the company achieved a net income of $910,249, with interest income totaling$1,700,010[115]. - Cash used in operating activities for the nine months ended September 30, 2023, was $707,205, with net income of$910,249 impacted by interest earned on investments[119]. Investments and Trust Account - As of September 30, 2023, the company had investments in the Trust Account amounting to $118,425,010, including approximately$1,700,010 of interest income[121]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital[122]. - As of September 30, 2023, the company had cash of $1,968,602 available for identifying and evaluating target businesses[123]. Initial Public Offering - The company completed its Initial Public Offering on June 16, 2023, raising gross proceeds of$115,000,000 from the sale of 11,500,000 Units[117]. - Following the Initial Public Offering, the company incurred $5,368,092 in related costs, including a cash underwriting discount of$2,300,000[118]. Debt and Obligations - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2023[126]. - The company has entered into a Business Combination Marketing Agreement, committing to pay a marketing fee of $4.03 million upon completion of an initial Business Combination[130].