Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $1,012,606, primarily from interest earned on marketable securities held in the Trust Account of $1,236,605, after deducting general and administrative costs of $223,999[111]. - For the nine months ended September 30, 2025, cash used in operating activities was $545,562, with net income of $2,632,737 resulting from interest earned on marketable securities[116]. Initial Public Offering - The company generated gross proceeds of $100,000,000 from the Initial Public Offering of 10,000,000 Units at $10.00 per Unit on December 5, 2024[113]. - The company incurred $3,605,995 in Initial Public Offering related costs, which included a cash underwriting fee of $2,300,000[114]. Marketable Securities - As of September 30, 2025, the company had marketable securities held in the Trust Account amounting to $119,600,533, which includes approximately $4,025,533 of interest income[118]. Working Capital and Financial Position - The company had a working capital deficit of $872,273 as of September 30, 2025[119]. - The company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2025[122]. Business Combination Plans - The company plans to use substantially all funds held in the Trust Account to complete its Business Combination, with the remaining proceeds intended for working capital to finance operations of the target business[118]. - The company expects to incur significant costs in pursuing its acquisition plans and cannot assure the success of completing a Business Combination[109]. - The company may need to raise additional funds to meet expenditures required for operating its business for at least the next 12 months[121].
Tavia Acquisition Corp(TAVI) - 2025 Q3 - Quarterly Report