Financial Performance - As of March 31, 2023, the Company reported a net income of $1,618,630, primarily from $2,105,252 in realized and unrealized gains on marketable securities, offset by various expenses totaling $385,622[105]. - The Company had cash of $251,927 and a working capital deficit of $(334,671) as of March 31, 2023, compared to cash of $224,474 and a working capital of $151,951 as of December 31, 2022[106]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $189,750,000 from the sale of 18,975,000 units at $10.00 per unit, including an over-allotment of 2,475,000 units[100]. - A total of $191,647,500 from the IPO and private placement warrants was placed in a U.S.-based trust account, with $2,250,000 deposited to the Company's operating account[103]. - The underwriter of the IPO is entitled to a deferred fee of $6,641,250, which will be payable only upon the completion of a Business Combination[110]. Operations and Future Outlook - The Company has not commenced any operations and will not generate operating revenues until after completing a Business Combination[99]. - The Company has incurred significant costs in pursuit of financing and acquisition plans, raising doubts about its ability to continue as a going concern within one year from the issuance of financial statements[108]. - The Company is evaluating the impact of the COVID-19 pandemic on its financial position and operations[108]. Financing Activities - The Company completed the private sale of 7,942,500 private placement warrants, generating gross proceeds of $7,942,500[102]. - The Company has no long-term debt or capital lease obligations as of March 31, 2023[110].
silium Acquisition I(CSLM) - 2023 Q1 - Quarterly Report