IPO and Financing - The company completed its IPO on January 24, 2025, raising total gross proceeds of $60,000,000 from the sale of 6,000,000 units at an offering price of $10.00 per unit[92]. - The company intends to use substantially all net proceeds from the IPO to acquire a target business and cover related expenses, with remaining funds used for working capital[103]. - The company has incurred losses since inception, with no revenue generated to date, relying on the sale of securities and loans from the Sponsor to fund operations[96]. - As of June 30, 2025, the company had cash of $761,463 and working capital of $719,917, with cash provided by financing activities amounting to $61,066,688[102]. Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $462,615, driven by interest income of $614,514 from the Trust Account, offset by general and administrative expenses of $151,899[99]. - The company currently has no long-term debt or significant contractual obligations as of June 30, 2025[109]. - The company has not engaged in any off-balance sheet financing arrangements and has no commitments for such financing[108]. - The company has not identified any critical accounting estimates that could materially affect its financial statements[112]. Future Expectations and Obligations - The company expects to incur increased expenses as a result of being a public company, including legal and compliance costs, as well as expenses related to identifying target acquisition opportunities[98]. - The company has until January 22, 2026, to complete its initial business combination, failing which it will trigger an automatic winding up and liquidation[107].
Columbus Acquisition Corp Unit(COLAU) - 2025 Q2 - Quarterly Report