IPO and Fundraising - The company completed its initial public offering (IPO) on September 19, 2024, raising gross proceeds of $60,000,000 from the sale of 6,000,000 units at $10.00 per unit[112]. - A private placement of 250,000 units was also completed simultaneously, generating an additional $2,500,000 in proceeds[113]. - Transaction costs for the IPO amounted to $2,840,203, including $960,000 in underwriting fees and $1,500,000 in deferred underwriting fees[120]. Financial Performance - As of December 31, 2024, the company reported a net income of $502,638, with a net loss of $3,680 for the period from inception to December 31, 2023[117]. - Basic and diluted net income per share for the year ended December 31, 2024, was reported at $0.38 for redeemable shares[135]. Cash and Assets - The company had cash of $669,250 as of December 31, 2024, with approximately $750,000 available outside the trust account for operational purposes[118][122]. - As of December 31, 2024, ordinary shares subject to possible redemption totaled $61,089,076, reflecting accretion and remeasurement adjustments[133]. - The company has no long-term debt or off-balance sheet financing arrangements as of December 31, 2024[126]. Business Operations - The company has until December 18, 2025, to complete its initial business combination, or it will cease operations and redeem public shares[123][124]. - Monthly fees of $10,000 are payable to the Sponsor for general and administrative services until the completion of the business combination[127].
YHN Acquisition I Limited(YHNAU) - 2024 Q4 - Annual Report