AA Mission Acquisition Corp.(AAM) - 2025 Q3 - Quarterly Report
AA Mission Acquisition Corp.AA Mission Acquisition Corp.(US:AAM)2025-11-07 21:06

IPO and Fundraising - The company generated gross proceeds of $300,000,000 from its IPO at a price of $10.00 per Unit on August 2, 2024[108]. - An additional $45,000,000 was raised from the full exercise of the underwriters' over-allotment option, selling 4,500,000 Units at $10.00 per Unit[109]. - The company incurred transaction costs of $14,634,758 related to the IPO, including $5,175,000 in cash underwriting fees[110]. - The company placed $346,725,000 in a trust account from the net proceeds of the IPO and private placement, intended for the initial business combination[111]. Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $3,612,987, with operating costs resulting in a loss of $163,979[106]. - For the nine months ended September 30, 2025, the net income was $10,558,941, with a loss of $646,950 from operating costs[107]. - The company has not generated any operating revenues to date, focusing instead on completing its initial business combination[105]. Cash and Working Capital - As of September 30, 2025, the company had cash of $748,602, primarily for identifying and evaluating target businesses[113]. - The company issued a convertible promissory note of $1,000,000 to the Sponsor to fund working capital needs, with the outstanding balance as of September 30, 2025 being $1,000,000[124]. - The company incurred administrative fees of $30,000 and $90,000 for the three and nine months ended September 30, 2025, respectively[120]. Regulatory and Reporting Considerations - The company is evaluating the benefits of reduced reporting requirements under the JOBS Act as an "emerging growth company" for a period of five years or until it no longer qualifies[133]. - Management does not anticipate that recently issued accounting standards will have a material effect on the condensed financial statements[134]. - The company qualifies as a smaller reporting company and is not required to provide certain market risk disclosures[135].