Financial Performance - For the three months ended September 30, 2025, the company reported a net income of approximately $2.76 million, primarily from $2.95 million in interest income on investments held in the Trust Account[148]. - For the nine months ended September 30, 2025, the company had a net income of approximately $2.67 million, again mainly from interest income of $2.95 million[150]. - The company incurred general and administrative expenses of approximately $157,000 for the three months ended September 30, 2025, and $245,000 for the nine months ended September 30, 2025[148][150]. - Net income (loss) per ordinary share is calculated by dividing net income (loss) applicable to shareholders by the weighted average number of ordinary shares outstanding[161]. Initial Public Offering - The company completed its Initial Public Offering on June 27, 2025, raising $276 million from the sale of 27.6 million Class A ordinary shares at $10.00 per share, including $5.8 million from a private placement[133][134]. Cash and Working Capital - As of September 30, 2025, the company had cash of $25,000 and a working capital of approximately $63,000, compared to a working capital deficit of approximately $164,000 as of December 31, 2024[144]. - As of September 30, 2025, the company had approximately $12,000 outstanding under the Sponsor Loan, with no borrowings under Working Capital Loans or the Sponsor Note[156]. Business Combination - The company has until June 27, 2027, to complete its Business Combination, or it will liquidate and redeem public shares at a price equal to the amount in the Trust Account[136]. - The company is focusing its search for target businesses in sectors such as financial services, digital assets, healthcare, real estate services, technology, and software[132]. - The SEC adopted new rules for SPACs effective July 1, 2024, which may impact the company's ability to negotiate and complete its Business Combination[137]. - The company has received a commitment from the Sponsor to provide up to $1.75 million in loans to cover transaction costs related to the Business Combination[145]. - The company engaged Cantor Fitzgerald & Co. as an advisor for the Business Combination, with a cash fee of $10,380,000 payable upon consummation[153]. Sponsor Loans - The Sponsor has agreed to lend the company up to $4,140,000 under a promissory note, with a conversion option into Class A ordinary shares at $10.00 per share[154]. - The Sponsor has committed up to $1,750,000 in a Sponsor Loan to cover transaction costs and working capital, also convertible into Class A ordinary shares at $10.00 per share[155]. Other Financial Information - The company accounts for 27,600,000 Class A ordinary shares as temporary equity subject to possible redemption as of September 30, 2025[159]. - The company has not generated any operating revenues to date and will not do so until after the completion of the Business Combination[147]. - The company has not reported any off-balance sheet arrangements or contractual obligations as of September 30, 2025[163]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[164].
Cantor Equity Partners III Inc-A(CAEP) - 2025 Q3 - Quarterly Report