Titan Acquisition Corp Unit(TACHU) - 2025 Q1 - Quarterly Report

IPO and Fundraising - The company completed its IPO on April 10, 2025, raising gross proceeds of $276 million from the sale of 27,600,000 Units at $10.00 per Unit, including an over-allotment option [122]. - The private placement of 8,110,056 warrants generated an additional $8.11 million, with each warrant allowing the purchase of one Class A ordinary share at $11.50 [122]. - The net proceeds from the IPO and private placement amounted to $278,751,114, with $277,380,000 deposited into a Trust Account for future business combinations [130]. Trust Account and Investments - The Trust Account funds are invested in U.S. government treasury bills or money market funds, intended to facilitate the intended business combination [131]. Financial Performance and Expenses - As of March 31, 2025, the company reported a net loss of $(78,292) primarily due to general and administrative costs related to the IPO [125]. - The company expects to incur approximately $300,000 in legal and accounting expenses, $36,000 for regulatory reporting, and $1,425,000 for general working capital prior to the initial business combination [136]. - The company may face increased expenses as a public entity, including costs for legal, financial reporting, and due diligence after the IPO [124]. - The company does not anticipate needing to raise additional funds before completing its initial business combination, but may require loans from the sponsor if costs exceed estimates [134]. - The company does not anticipate needing to raise additional funds following the current offering to meet operational expenditures [138]. Operations and Liquidity - The company has not engaged in any operations or generated revenues to date, with future income expected to come from interest on cash and cash equivalents after the IPO [124]. - The company has liquidity needs satisfied through $25,000 from the sponsor and up to $300,000 in loans from the sponsor prior to the IPO [129]. - As of March 31, 2025, there are no off-balance sheet arrangements or commitments, and no operations have been conducted to date [139]. - The company has no long-term debt or significant liabilities, only an agreement to pay $30,000 per month for office space and administrative support [140]. Accounting and Reporting - There are no critical accounting estimates disclosed as of March 31, 2025, indicating a straightforward financial position [141]. - The company qualifies as a smaller reporting company and is not required to provide extensive market risk disclosures [142].