Plum Acquisition Corp IV Unit Cons of 1 CL A + 1/2 Wts(PLMKU) - 2025 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $1,629,227, consisting of interest earned on investments held in the Trust Account of $1,867,009, offset by general and administrative expenses of $237,782[124]. - For the six months ended June 30, 2025, the company had a net income of $2,811,282, with interest earned on investments held in the Trust Account amounting to $3,355,409 and general and administrative expenses totaling $544,127[124]. Cash and Investments - As of June 30, 2025, the company had cash of $375,823 and investments held in the trust account of $177,580,409, which are intended to be used for completing a business combination[131]. Initial Public Offering - The company raised gross proceeds of $172,500,000 from its initial public offering of 17,250,000 units at a price of $10.00 per unit, including the full exercise of the over-allotment option[127]. - The company incurred transaction costs of $10,932,289 related to the initial public offering, which included $3,450,000 in underwriting fees and $6,900,000 in deferred underwriting fees[128]. Going Concern - As of June 30, 2025, the company had a working capital of $351,062, raising concerns about its ability to continue as a going concern if a business combination does not occur[136]. - The company expects to incur significant costs in pursuing its acquisition plans and may need additional financing to complete a business combination[135]. Debt and Financial Obligations - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025, and has incurred monthly fees of $20,833 to each officer since January 16, 2025[138][139]. - The company issued an unsecured promissory note of up to $1,500,000 to the sponsor, which may be converted into units at the option of the lender[134]. Accounting Policies - The company has not identified any critical accounting policies that could materially affect its financial statements[141].