Financial Performance - The company had a net income of $798,203 for the three months ended June 30, 2025, primarily from interest and dividends, offset by administrative costs of $124,718[113]. - The company generated non-operating income from interest on investments held in the Trust Account, totaling $919,363 for the period from inception through June 30, 2025[114]. - As of June 30, 2025, the company had $927,014 in cash and a working capital surplus of $988,547, indicating sufficient liquidity for operations[123]. - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025, ensuring a clean financial slate[124]. Initial Public Offering (IPO) - Total gross proceeds from the Initial Public Offering amounted to $253,000,000, with 25,300,000 Public Units sold at $10.00 each, including the full exercise of the Over-Allotment Option[116]. - The company incurred total costs of $11,024,267 related to the Initial Public Offering, including $3,415,500 in cash underwriting fees and $6,957,500 in deferred fees[117]. - The underwriters of the Initial Public Offering are entitled to a deferred fee of $6,957,500, payable upon the closing of an initial Business Combination[129]. - The Sponsor has agreed to provide up to $300,000 in loans for Initial Public Offering expenses, with $207,494 borrowed and fully repaid by June 2, 2025[119]. Future Plans and Expenses - The company plans to use substantially all investments in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital[120]. - The company expects to incur increased expenses as a public entity, including legal and compliance costs, as it pursues its acquisition strategy[112].
Kochav Defense Acquisition Corp Unit(KCHVU) - 2025 Q2 - Quarterly Report