Financial Performance - As of September 30, 2025, the company had net income of $630,309, primarily from investments held in the Trust Account[116]. - The company had cash and cash equivalents of $1,266,950 held outside the Trust Account as of September 30, 2025[119]. - A total of $173,362,500 was placed in the Trust Account, which will be used to complete the initial business combination[120]. - For the period from April 1, 2025, to September 30, 2025, net cash used in operating activities was $300,065[121]. - The company had marketable securities in the Trust Account valued at $174,260,001, consisting of securities held in a money market fund[122]. - As of September 30, 2025, the company has no long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities[130]. Initial Public Offering - On July 17, 2025, the company completed its Initial Public Offering of 17,250,000 Units at $10.00 per Unit, generating gross proceeds of $172,500,000[112]. - The company incurred offering costs of $9,458,142, which included $1,500,000 in net upfront underwriting discounts and $7,350,000 in deferred underwriting fees[113]. - Underwriters of the Initial Public Offering are entitled to deferred commissions of 4.0% of gross proceeds, with a total of up to $7,350,000 payable upon completion of a Business Combination[131]. Future Financial Needs - The company expects to incur increased expenses related to being a public company, including legal and compliance costs[115]. - The company may need to raise additional funds to meet expenditures required for operating its business prior to the initial business combination[124]. - The company intends to use substantially all funds in the Trust Account to complete the initial business combination and may withdraw interest earned to fund taxes payable[126]. - The company may need additional financing to complete its initial Business Combination if cash requirements exceed available funds in the Trust Account[129]. Accounting and Compliance - The company has not identified any critical accounting estimates as of September 30, 2025, which could materially differ from actual results[132]. - The company adopted ASU 2023-07 on April 1, 2025, which requires enhanced disclosures for reportable segment expenses and performance measures[133]. - ASU 2023-09, effective after December 15, 2024, mandates additional disclosures related to income tax rate reconciliations and taxes paid[134]. - Management believes that recently issued accounting pronouncements will not materially affect the company's financial statements[135]. - There are no applicable quantitative and qualitative disclosures about market risk[136].
Solarius Capital Acquisition Corp Unit(SOCAU) - 2025 Q3 - Quarterly Report