Fifth Era Acquisition Corp I-A(FERA) - 2025 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $895,779, driven by interest income of $2,405,626 from marketable securities held in the Trust Account, offset by operating costs of $1,509,847[114]. - For the six months ended June 30, 2025, the company achieved a net income of $1,517,370, with interest income of $3,146,503 and operating costs of $1,629,133[114]. Marketable Securities - As of June 30, 2025, the company had marketable securities in the Trust Account totaling $233,146,503, which includes approximately $3,146,503 of interest income[120]. Initial Public Offering - The company completed its Initial Public Offering on March 3, 2025, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Public Units at $10.00 each[116]. - The company incurred total fees of $15,557,879 related to the Initial Public Offering, including a cash underwriting fee of $4,000,000 and a deferred fee of $10,950,000[117]. Liquidity and Working Capital - As of June 30, 2025, the company had cash of $850,918 and a working capital deficit of $393,675, indicating liquidity challenges[121]. - The company plans to use funds held in the Trust Account primarily to complete its Business Combination and for working capital to finance operations of the target business[120]. Administrative Expenses - The company has incurred $61,071 in administrative service fees for the six months ended June 30, 2025, under an agreement for office space and support services[126]. Off-Balance Sheet Arrangements - The company has no off-balance sheet arrangements as of June 30, 2025, and does not participate in transactions that create relationships with unconsolidated entities[125]. Going Concern - Management has expressed substantial doubt about the company's ability to continue as a going concern if it cannot complete a Business Combination within the required timeframe[124].