IPO and Fundraising - The company completed its initial public offering (IPO) on September 19, 2024, selling 6,000,000 units at $10.00 per unit, generating gross proceeds of $60,000,000[118]. - A private placement of 250,000 units was also completed simultaneously, raising an additional $2,500,000[119]. - Transaction costs for the IPO amounted to $2,840,203, including $960,000 in underwriting fees[126]. - The underwriters were granted a 45-day option to purchase an additional 900,000 units, which was not exercised[136]. Financial Performance - For the year ended December 31, 2025, the company reported a net income of $1,325,117, an increase from $502,638 in 2024[123]. - For the year ended December 31, 2025, the basic and diluted net income per share was $0.27, compared to a loss of $0.15 for the year ended December 31, 2024[141]. - Total income from investments held in the Trust Account for 2025 was $2,462,016, an increase from $789,287 in 2024[141]. - Total expenses for 2025 were $873,403, up from $263,496 in 2024[141]. - The allocation to redeemable and non-redeemable ordinary shares for 2025 was $1,588,613, compared to $640,765 in 2024[141]. - The weighted-average shares outstanding increased to 5,800,691 in 2025 from 1,750,000 in 2024[141]. Cash and Assets - As of December 31, 2025, the company had cash of $140,550 and approximately $750,000 available outside the trust account for operational purposes[124][128]. - As of December 31, 2025, 2,535,821 ordinary shares were subject to possible redemption, valued at $27,050,906[139]. - The company has no long-term debt or off-balance sheet financing arrangements as of December 31, 2025[133]. Business Combination Timeline - The company has 15 months from the IPO closing to complete its initial business combination, with an option to extend this period by up to 9 months[129][130]. Administrative Expenses - Monthly fees of $10,000 are payable to the sponsor for general and administrative services until the completion of the business combination[134].
YHN Acquisition I Ltd(YHNA) - 2025 Q4 - Annual Report