Fifth Era Acquisition Corp I-A(FERA) - 2025 Q3 - Quarterly Report

IPO and Financial Proceeds - The company completed its Initial Public Offering (IPO) on March 3, 2025, raising gross proceeds of $230 million from the sale of 23 million Public Units at $10.00 each[93]. - The company incurred total fees of $15,557,879 related to the IPO, including a cash underwriting fee of $4,000,000 and a deferred underwriting fee of $10,950,000[102]. - The company engaged an advisor for capital markets services related to a Business Combination, with a fee of 5.0% on gross proceeds, ensuring a minimum payment of $3,000,000[117]. Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $929,008, driven by interest income of $2,435,794 from marketable securities, offset by operating costs of $1,506,786[100]. - For the nine months ended September 30, 2025, the company reported a net income of $2,446,378, with interest income of $5,582,297 and operating costs of $3,135,919[100]. - The company has not generated any operating revenues to date, with activities focused on organizational efforts and identifying acquisition candidates[99]. Assets and Liabilities - As of September 30, 2025, the company held approximately $235,582,297 in marketable securities in the Trust Account, including $5,582,297 of interest income[105]. - The company has a working capital deficit of $1,861,175 as of September 30, 2025, indicating liquidity challenges[107]. Business Combination and Future Plans - The company has until March 3, 2027, to complete its Business Combination, or it will cease operations and redeem Public Shares at a price equal to the amount in the Trust Account[97]. - The company plans to use funds from the Trust Account primarily to complete its Business Combination and for working capital of the target business[105]. - The company may seek to extend the Combination Period with shareholder approval, which could affect its ability to maintain its Nasdaq listing[98]. Shareholder Equity - Class A Ordinary Shares subject to possible redemption are classified as temporary equity, reflecting uncertain future events and redemption rights[120]. - Net income (loss) per Ordinary Share is calculated using the two-class method, allocating net income (loss) among different classes of shares[121].