Financial Performance - The company reported a net loss of $62,889 for the three months ended June 30, 2025, primarily due to formation and operating costs of $62,895, with interest income of $6[103]. - For the six months ended June 30, 2025, the net loss was $197,509, which included share-based compensation expense of $108,750 and formation and operating costs of $88,765, offset by interest income of $6[103]. - Cash used in operating activities for the six months ended June 30, 2025, was $53,009, influenced by a net loss of $197,509 and compensation expense to directors of $108,750[109]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on July 2, 2025, raising gross proceeds of $100,000,000 from the sale of 10,000,000 Units at $10.00 per Unit[106]. - An additional 1,500,000 Units were sold on July 11, 2025, generating gross proceeds of $15,000,000, along with 30,000 Private Placement Units for total proceeds of $300,000[107]. - Following the IPO and related transactions, a total of $115,000,000 was placed in the Trust Account, with total offering costs amounting to $6,741,773[108]. - The underwriters are entitled to a deferred underwriting discount of 3.5% of the gross proceeds from the Initial Public Offering, totaling $4,025,000[118]. Future Financing and Operations - The company intends to utilize funds in the Trust Account primarily for completing its Business Combination and financing operations of the target business[111]. - The company does not anticipate needing to raise additional funds for operating expenditures prior to the Business Combination, but may require additional financing for completion[114]. - The company has no off-balance sheet arrangements or long-term liabilities, except for a monthly fee of $10,000 for office space and administrative services[115][117].
Indigo Acquisition Corp(INAC) - 2025 Q2 - Quarterly Report