Financial Performance - The company reported a net loss of $51,482 for the period from September 10, 2025, to December 31, 2025, primarily due to formation, general, and administrative costs[254]. - As of December 31, 2025, the company had $25,000 in cash and a working capital deficit of $279,478[255]. - The company does not expect to generate operating revenues until after the completion of its initial business combination[253]. IPO Details - The company completed its IPO on January 26, 2026, raising gross proceeds of $172,500,000 from the sale of 17,250,000 Class A ordinary shares at $10.00 per share[256]. - Transaction costs incurred during the IPO totaled $7,505,053, which included $1,725,000 in cash underwriting fees and $5,175,000 in deferred underwriting fees[257]. - The underwriters fully exercised their over-allotment option, purchasing an additional 2,250,000 public shares at $10.00 per share[265]. Use of Funds - The company intends to use substantially all funds held in the trust account to complete its initial business combination, with remaining proceeds allocated for working capital[259]. - The company may need to obtain additional financing to complete its initial business combination or due to potential redemptions of public shares[262]. Financial Structure - The company has no long-term debt or off-balance sheet financing arrangements as of December 31, 2025[263]. - The company has adopted ASU 2023-07 regarding segment reporting disclosures effective from its inception date[269].
Helix Acquisition(HLXC) - 2025 Q4 - Annual Report