WinVest Acquisition (US:WINV)2022-05-13 21:15Financial Performance - As of March 31, 2022, the company had net losses of $240,098 for the three months ended, primarily due to legal and professional fees[108]. - The company incurred ongoing expenses related to being a public entity, including legal, financial reporting, and auditing compliance costs[107]. - The company generated non-operating income from interest and dividend income on cash and cash equivalents held in the Trust Account[107]. Cash and Securities - The company held $116,164,312 in marketable securities in the Trust Account as of March 31, 2022, which will be used to complete a business combination[111]. - The company had $307,609 in cash outside the Trust Account as of March 31, 2022, intended for identifying and evaluating target businesses[112]. - The company has no long-term debt or significant liabilities as of March 31, 2022, except for a monthly fee of $10,000 to the Sponsor for administrative support[115]. Business Combination - The company has until December 17, 2022, to consummate its initial business combination, with the possibility of extending this period by up to six months[105]. - The company will redeem 100% of its outstanding public shares if it cannot complete a business combination within the specified time frame[105]. - The company has not commenced any core operations and will not generate operating revenues until after completing a business combination[103]. - The company is subject to risks and uncertainties that may affect its ability to complete a business combination as planned[104].