Ribbon Acquisition Corp-A(RIBB) - 2025 Q1 - Quarterly Report

Financial Performance - The company had a net income of $235,856 for the three months ended March 31, 2025, consisting of operating expenses of $185,401 and income from marketable securities of $421,257[87]. IPO and Fundraising - The company completed its IPO on January 16, 2025, raising gross proceeds of $50,000,000 from the sale of 5,000,000 units at $10.00 per unit[88]. - An additional $2,220,000 was raised through the sale of 220,000 Private Placement Units at $10.00 each, bringing total gross proceeds to $52,220,000[88]. - The company plans to use the net proceeds from the IPO and private placement primarily for its initial business combination and related expenses, including a deferred underwriting discount of 4% of the total gross proceeds[90]. Financial Position - As of March 31, 2025, the company had $536,022 in cash and a working capital of $516,514[91]. - The company has no off-balance sheet arrangements or contractual obligations as of March 31, 2025[94][101]. Business Operations and Future Outlook - The company has not engaged in any operations or generated revenues to date, with no assurance of future revenue until after the initial business combination[85]. - The company expects to incur significant costs related to being a public company and pursuing its acquisition plans[86]. - The company has until January 16, 2026, to complete its initial business combination, or it will face automatic liquidation[93]. Regulatory Classification - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[102].