Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $224,370, consisting of interest earned on marketable securities held in the Trust Account of $343,797, offset by general and administrative costs of $119,427[123]. - The company incurred cash used in operating activities of $335,950 from inception through September 30, 2025, with net income of $209,856 affected by income earned on marketable securities[128]. Initial Public Offering - The company completed its Initial Public Offering on September 15, 2025, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units, including the full exercise of the over-allotment option[125]. - Following the Initial Public Offering, a total of $231,150,000 was placed in the Trust Account, with transaction costs amounting to $5,370,179[127]. - The underwriters were granted a 45-day option to purchase up to 3,000,000 additional Units, which was fully exercised, generating additional proceeds for the company[135]. Trust Account and Cash Management - As of September 30, 2025, the company had cash and marketable securities held in the Trust Account totaling $231,493,797.08, intended for use in completing a Business Combination[129]. - The company intends to utilize funds held outside the Trust Account primarily for identifying and evaluating target businesses and conducting due diligence[130]. - The company has a share subscription receivable of $971,902 from the Sponsor, which will be used for operational purposes[130]. Debt and Financing - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025, and has a monthly obligation of $20,000 for office space and administrative services[133][134]. - The company may require additional financing to complete a Business Combination or to cover redemptions of Public Shares, which could involve issuing additional securities or incurring debt[132].
OTG Acquisition(OTGAU) - 2025 Q3 - Quarterly Report