UY Scuti Acquisition Corp Unit(UYSCU) - 2026 Q3 - Quarterly Report

Financial Performance - The company generated a net income of $69,829 for the three months ended December 31, 2025, consisting of interest earned on cash held in the Trust Account of $547,573, offset by operating costs of $477,744 [112]. - For the nine months ended December 31, 2025, the company reported a net income of $553,899, with interest income of $1,706,108 and operating costs of $1,152,209 [112]. - As of December 31, 2025, the company had a working capital deficit of $340,048 and negative cash flow of $843,312 in operating activities for the nine months ended December 31, 2025 [121]. Capital Raising and IPO - The company raised gross proceeds of $50,000,000 from its IPO by selling 5,000,000 units at $10.00 per unit, with an additional $7,500,000 raised from the Over-Allotment Option [115]. - The underwriters received a cash underwriting discount of 1.75% of the gross proceeds of the IPO, totaling $875,000, and 200,000 Representative Shares [131]. - The Company issued 5,750,000 ordinary shares in the IPO, which contain a redemption feature related to liquidation and business combination events [136]. Trust Account and Investments - A total of $57,500,000 was placed in a Trust Account, which will be invested in U.S. government treasury bills or money market funds until the completion of the initial business combination [117]. Business Combination and Agreements - The company entered into a Merger Agreement with Isdera Group Limited, valuing Isdera at $1,000,000,000, with the consideration to be paid in newly issued shares [113]. - The company must complete its initial business combination within 12 months of the IPO, extendable to 18 months, or face liquidation and redemption of public shares [123]. Financial Obligations and Concerns - The company has incurred approximately $1,315,477 in professional fees and other costs related to its public company status and business combination efforts [111]. - The company issued an unsecured promissory note (Promissory Note II) for up to $1,000,000 to fund working capital deficiencies, with a principal amount due of $311,605 as of December 31, 2025 [122]. - Management has raised substantial doubt about the company's ability to continue as a going concern if the initial business combination is not completed within the prescribed timeframe [124]. Capital Requirements and Financing - The Company believes it does not need additional capital beyond the net proceeds from the IPO and available amounts under Promissory Note II for operational needs [125]. - The Company has no off-balance sheet financing arrangements as of December 31, 2025 [126]. - The Company has no long-term debt or capital lease obligations, with monthly fees of $10,000 to the Sponsor and $5,000 to legal counsel starting April 1, 2025 [127]. Accounting and Compliance - The Company follows U.S. GAAP for income taxes, with no income tax imposed by the Government of the Cayman Islands [141]. - The Company complies with FASB ASC Topic 260 for earnings per share, with no dilutive securities for the three months ended December 31, 2025 [142]. - The fair value of the Company's financial instruments approximates their carrying amounts due to their short-term nature [144]. - Management does not anticipate that recently issued accounting pronouncements will materially affect the Company's financial statements [145].