Plum Acquisition Corp IV-A(PLMK) - 2025 Q1 - Quarterly Report

Financial Performance - For the three months ended March 31, 2025, the company reported a net income of $1,182,055, primarily from interest earned on investments held in the Trust Account of $1,488,400, offset by formation and operational costs of $306,345[120]. - Cash used in operating activities for the three months ended March 31, 2025, was $338,313, with net income affected by interest earned and operational costs[124]. - The company has incurred and expects to continue incurring significant costs in pursuit of its acquisition plans, raising substantial doubt about its ability to continue as a going concern[129]. Cash and Investments - As of March 31, 2025, the company had cash of $577,442 and investments held in the trust account totaling $175,713,400, which will be used to complete the business combination[125]. - The company intends to use funds held outside the trust account primarily for identifying and evaluating target businesses and performing due diligence[126]. - Up to $1,500,000 of loans from the sponsor may be convertible into units at a price of $10.00 per unit, should the company complete a business combination[127]. Initial Public Offering - The company completed its initial public offering on January 16, 2025, raising gross proceeds of $172,500,000 from the sale of 17,250,000 units at $10.00 per unit, including an over-allotment option[122]. - Total transaction costs incurred during the initial public offering amounted to $10,932,289, which included $3,450,000 in underwriting fees and $6,900,000 in deferred underwriting fees[123]. Debt and Compensation - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2025, and has agreed to pay each officer an aggregate of $20,833 per month[130][131]. Accounting Policies - The company has not identified any critical accounting policies that could materially affect its financial statements[133].