Financial Performance - The company reported a net loss of $84,438 for the period from January 30, 2025, through March 31, 2025, primarily due to general and administrative expenses [101]. - The company does not expect to generate operating revenues until after the completion of its Business Combination [100]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $200,000,000 from the sale of 20,000,000 Units at $10.00 per Unit, including an over-allotment option [103]. - An additional $6,000,000 was raised through the sale of 600,000 Private Placement Units at $10.00 per Unit, with the Sponsor purchasing 400,000 Units [103]. - Total funds of $200,000,000 were placed in the Trust Account following the IPO, with total offering costs amounting to $12,624,206 [105]. - The deferred underwriting discount for the IPO is 4.00% of gross proceeds, amounting to $8,000,000, payable upon the closing of the initial Business Combination [113]. Use of Funds - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and for working capital of the target business [106]. - The company may need additional financing to complete its Business Combination or to address significant shareholder redemptions [109]. Financial Obligations - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2025 [111]. - The company has a contractual obligation to pay the Sponsor $10,000 per month for office space and administrative support services [112].
Axiom Intelligence Acquisition Corp 1-A(AXIN) - 2025 Q1 - Quarterly Report