Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $1,625,328, consisting of interest income of $2,624,404 offset by operating costs of $999,076 [137]. - The company reported a net income of $1,510,946 for the nine months ended September 30, 2025, after accounting for operating costs and share-based compensation [137]. - The company incurred $30,000 and $50,000 in fees for administrative services for the three and nine months ended September 30, 2025, respectively [151]. Initial Public Offering - The company generated gross proceeds of $250,000,000 from its Initial Public Offering of 25,000,000 Units at a price of $10.00 per Unit [128]. - The cash underwriting discount for the Initial Public Offering was 2.00% of the gross proceeds, amounting to $4,400,000 [153]. - Underwriters partially exercised their over-allotment option, purchasing 3,000,000 Units out of a possible 3,300,000 Units [152]. Business Combination - The company has until May 19, 2027, to complete its Business Combination, or it will cease operations and redeem Public Shares [131]. - The company may seek to extend the Completion Window for its Business Combination, which requires shareholder approval [132]. - The company will pay up to $10,600,000 in cash fees to advisors upon the consummation of the initial Business Combination [154]. Financial Position - As of September 30, 2025, the company had marketable securities in the Trust Account totaling approximately $253,824,027, including $3,824,027 of interest income [142]. - The company had cash of $190,655 outside the Trust Account as of September 30, 2025, primarily for evaluating target businesses [144]. - The company has no long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities [150]. Going Concern - The company has raised concerns about its ability to continue as a going concern due to significant costs and the need for additional capital [149]. - The company expects to incur increased expenses due to being a public company, including legal and financial reporting costs [136]. Shareholder Rights - Holders of certain shares are entitled to registration rights, allowing them to demand registration of their securities for resale [155]. - The company has waived rights to liquidating distributions from the Trust Account for Founder Shares if the initial Business Combination is not completed [156]. - Ordinary shares subject to possible redemption are classified as temporary equity and presented at redemption value [160]. - Net loss per ordinary share is calculated by dividing net loss applicable to shareholders by the weighted average number of ordinary shares outstanding [161]. Accounting Standards - The company is evaluating the impact of adopting ASU 2024-03, which requires additional disclosures about specific expense categories [162].
Columbus Circle Capital Corp I-A(BRR) - 2025 Q3 - Quarterly Report