Charlton Aria Acquisition Corporation(CHARU) - 2025 Q2 - Quarterly Report

IPO and Fundraising - The Company completed its IPO on October 25, 2024, raising gross proceeds of $75,000,000 from the sale of 7,500,000 units at $10.00 per unit[99]. - The underwriters received a cash underwriting discount of $0.15 per Public Unit, totaling $1,275,000, and a deferred fee of approximately $1,700,000 upon the consummation of an initial business combination[118]. Financial Performance - For the three months ended June 30, 2025, the Company reported a net income of $778,024, primarily from interest and dividends earned on investments held in the trust account[106]. - The Company incurred formation and operating costs of $127,380 for the three months ended June 30, 2025, and $297,632 for the six months ended June 30, 2025[106][107]. - As of June 30, 2025, the Company had cash of $48,631 and working capital of $112,601[109]. - The Company has no revenue and has relied on the sale of securities and loans from the Sponsor to fund operations since inception[102]. Future Financing and Concerns - The Company intends to use funds held outside the Trust Account for identifying and evaluating target businesses and performing due diligence[111]. - The Company may need to obtain additional financing to complete its Business Combination or due to significant redemptions of Public Shares[113]. - Management has raised substantial doubt about the Company's ability to continue as a going concern if a Business Combination is not completed by April 25, 2026[114]. Accounting and Reporting - Management does not identify any critical accounting estimates that could materially affect the financial statements[120]. - Recent accounting standards are not expected to have a material effect on the unaudited financial statements if adopted[121]. - The company qualifies as a smaller reporting company and is not required to provide additional market risk disclosures[122]. Off-Balance Sheet Financing - The Company has no off-balance sheet financing arrangements as of June 30, 2025[115].