Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $144,634, driven by interest income of $972,598 and unrealized gains of $28,196, offset by operating costs of $856,160[119] - For the nine months ended September 30, 2025, the company achieved a net income of $1,578,036, with interest income totaling $2,883,432 and operating costs of $1,305,314[120] Cash and Investments - As of September 30, 2025, the company held cash and investments in the Trust Account amounting to $90,937,747, including approximately $4,687,747 of investment income[126] - As of September 30, 2025, the company had cash of $1,177,909 and working capital of $328,565, which is insufficient for its working capital needs for at least one year[127] Initial Public Offering - The company completed its Initial Public Offering on June 13, 2024, raising gross proceeds of $86,250,000 from the sale of 8,625,000 Class A ordinary shares[123] - The company has until June 13, 2026, to consummate its Initial Business Combination, or it will face mandatory liquidation[129] Operating Activities - Cash used in operating activities for the nine months ended September 30, 2025, was $551,775, influenced by changes in operating assets and liabilities of $753,539[124] - The company incurred $135,000 in fees for administrative services for the nine months ended September 30, 2025[132] Share Structure - The Company has two classes of shares: Class A ordinary shares and Class B ordinary shares, with income and losses shared pro rata between them[138] - Net income per ordinary share is calculated by dividing net income by the weighted average shares of ordinary shares outstanding for the respective period[137] - Class A ordinary shares subject to possible redemption are classified as temporary equity and presented at redemption value, outside of the shareholders' deficit section of the balance sheets[136] - Accretion associated with Class A ordinary shares subject to possible redemption is excluded from earnings per share as the redemption value approximates fair value[138] Accounting Standards and Regulations - Management does not believe that any recently issued, but not yet effective, accounting standards would have a material effect on the condensed financial statements[139] - The Company is classified as a smaller reporting company and is not required to provide certain disclosures under the Exchange Act[140] Off-Balance Sheet Arrangements - The company has no off-balance sheet arrangements as of September 30, 2025[131] - Up to $3,000,000 of Working Capital Loans may be convertible into shares of the post-Business Combination entity at a price of $10.00 per share[128]
Perceptive Capital Solutions Corp(PCSC) - 2025 Q3 - Quarterly Report