Avino Silver & Gold Mines .(ASM) - 2025 Q2 - Quarterly Report
2025-08-13 21:25
EXHIBIT 99.1 AVINO SILVER & GOLD MINES LTD. Condensed Consolidated Interim Financial Statements For the three and six months ended June 30, 2025 and 2024 (Unaudited) AVINO SILVER & GOLD MINES LTD. Condensed Consolidated Interim Statements of Financial Position (Expressed in Thousands of US Dollars - Unaudited) | | | | June 30, | | December | | --- | --- | --- | --- | --- | --- | | | Note | | 2025 | | 31, 2024 | | ASSETS | | | | | | | Current assets | | | | | | | Cash | | $ | 37,279 | $ | 27,317 | | Amounts ...
Adagio Medical Holdings, Inc.(ADGM) - 2025 Q2 - Quarterly Results
2025-08-13 21:22
Exhibit 99.1 "In the second quarter we saw continued strong momentum in the enrollment of our FULCRUM-VT study, which we believe validates the market need for our purpose-built technology and brings us one step closer to offering our proprietary ULTC solutions to patients in the United States who suffer from ventricular tachycardia," said Todd Usen, Chief Executive Officer of Adagio. "The team also made meaningful progress in advancing our pipeline through the continued development of our next-generation pr ...
CADIZ(CDZIP) - 2025 Q2 - Quarterly Report
2025-08-13 21:22
united states Securities and Exchange Commission Washington, D. C. 20549 FORM 10-Q (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2025 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from …… to ……. Commission File Number 0-12114 Cadiz Inc. (Exact name of registrant specified in its charter) DELAWARE 77-0313235 (State or other jurisdiction of (I ...
Cadiz (CDZI) - 2025 Q2 - Quarterly Report
2025-08-13 21:22
PART I – FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=ITEM%201.%20Financial%20Statements) This section presents Cadiz Inc.'s unaudited condensed consolidated financial statements for Q2 and H1 2025, reporting a net loss of **$7.7 million** for Q2 and **$17.3 million** for H1, with notes on accounting policies and financial matters [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Cadiz Inc. reported **Q2 2025 revenues of $4.1 million** (up from **$0.5 million**) with a net loss of **$7.7 million**, while **H1 2025 revenues grew to $7.1 million** (from **$1.6 million**) with a net loss widening to **$17.3 million** | Metric ($ in thousands) | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | **Total revenues** | $4,126 | $513 | +704.3% | | Operating loss | $(5,777) | $(6,949) | +16.9% | | Net loss | $(7,730) | $(8,872) | +12.9% | | Net loss per common share | $(0.11) | $(0.15) | +26.7% | | Metric ($ in thousands) | H1 2025 | H1 2024 | YoY Change | | :--- | :--- | :--- | :--- | | **Total revenues** | $7,080 | $1,634 | +333.3% | | Operating loss | $(13,310) | $(11,857) | -12.3% | | Net loss | $(17,323) | $(15,722) | -10.2% | | Net loss per common share | $(0.25) | $(0.27) | +7.4% | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to **$136.4 million** from **$134.5 million** at year-end 2024, with cash decreasing to **$13.2 million** and stockholders' equity rising to **$35.6 million** due to capital raising | Balance Sheet Item ($ in thousands) | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $13,205 | $17,292 | | Total current assets | $21,039 | $25,786 | | Total assets | $136,379 | $134,494 | | Long-term debt, net | $58,751 | $56,708 | | Total liabilities | $100,813 | $100,533 | | Total stockholders' equity | $35,566 | $33,961 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Cash%20Flows) Net cash used in operating activities significantly decreased to **$5.0 million** in H1 2025 from **$9.9 million** in H1 2024, while investing activities used **$10.8 million** and financing provided **$14.3 million** from stock issuance | Cash Flow Activity ($ in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(5,000) | $(9,936) | | Net cash used in investing activities | $(10,800) | $(467) | | Net cash provided by financing activities | $14,338 | $16,003 | | Net (decrease) increase in cash | $(1,462) | $5,600 | [Condensed Consolidated Statement of Stockholders' Equity](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Stockholders%27%20Equity) Stockholders' equity increased from **$34.0 million** to **$35.6 million** in H1 2025, driven by **$18.3 million** from a direct offering and stock-based compensation, offset by a **$17.3 million** net loss and **$2.6 million** in preferred dividends - In the first half of 2025, the company issued **5,715,000 shares** through a direct offering, resulting in net proceeds of **$18.3 million**[14](index=14&type=chunk) - The accumulated deficit increased from **$(676.1) million** at the end of 2024 to **$(675.4) million** as of June 30, 2025, after accounting for a net loss of **$17.3 million**, preferred dividends, and a reclassification of prior dividends from accumulated deficit to additional paid-in capital[14](index=14&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=10&type=section&id=Unaudited%20Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, liquidity, segment performance, debt, and stock compensation, highlighting the company's two segments and recent equity offerings to fund operations and development projects - The company incurred a net loss of **$17.3 million** for the six months ended June 30, 2025, and had working capital of **$9.4 million**; management believes it can continue as a going concern through potential equity placements, asset sales, or cost reductions[20](index=20&type=chunk)[27](index=27&type=chunk)[29](index=29&type=chunk) - In March 2025, the company raised approximately **$18.3 million** in net proceeds from a registered direct offering of **5,715,000 shares** of common stock[26](index=26&type=chunk) - The company operates in two reportable segments: Land and Water Resources, which is in a pre-revenue development phase, and Water Filtration Technology (ATEC), which provides the majority of current revenues[37](index=37&type=chunk) - In March 2024, the company entered into a Third Amended Credit Agreement with Heerema, providing a new **$20 million** senior secured convertible term loan and extending existing debt maturity to June 30, 2027[24](index=24&type=chunk)[48](index=48&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's water solutions business, highlighting significant revenue growth in the ATEC segment, which drove overall revenue increases despite a widening operating loss due to increased development costs and stock-based compensation, with ongoing reliance on debt and equity financing [Business Overview](index=25&type=section&id=Business%20Overview) Cadiz Inc. is a water solutions provider with substantial Southern California assets, focusing on developing its Mojave Groundwater Bank, securing **85%** of Northern Pipeline capacity, and establishing MWI to fund **$800 million** in construction costs with **$425 million** in potential equity - The company's asset portfolio includes **2.5 million acre-feet** of water supply, **1 million acre-feet** of groundwater storage, **220 miles** of existing pipeline, and rights for a new **43-mile** pipeline[100](index=100&type=chunk)[102](index=102&type=chunk)[103](index=103&type=chunk) - In 2024, the company entered into agreements with water providers for the purchase of **21,275 AFY** of annual water supply, representing **85%** of the Northern Pipeline's full capacity[108](index=108&type=chunk) - The company is forming Mojave Water Infrastructure Company, LLC (MWI) to fund the approximately **$800 million** construction cost of the Mojave Groundwater Bank and has non-binding letters of intent for up to **$425 million** in equity capital[112](index=112&type=chunk) [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Q2 2025 revenues rose to **$4.1 million** (from **$0.5 million**) with a narrowed operating loss of **$5.8 million**, while H1 2025 revenues grew to **$7.1 million** (from **$1.6 million**), but operating loss increased to **$13.3 million** due to higher development and compensation costs | Segment Performance (in thousands) | Q2 2025 Revenue | Q2 2024 Revenue | Q2 2025 Operating (Loss)/Income | Q2 2024 Operating Loss | | :--- | :--- | :--- | :--- | :--- | | Land and Water Resources | $431 | $350 | $(6,227) | $(6,538) | | Water Filtration Technology | $3,695 | $163 | $450 | $(411) | | Segment Performance (in thousands) | H1 2025 Revenue | H1 2024 Revenue | H1 2025 Operating (Loss)/Income | H1 2024 Operating Loss | | :--- | :--- | :--- | :--- | :--- | | Land and Water Resources | $996 | $986 | $(13,853) | $(11,324) | | Water Filtration Technology | $6,084 | $648 | $543 | $(533) | - The increase in ATEC sales in H1 2025 is attributed to the shipment of **195 filters** compared to **37 filters** in H1 2024[126](index=126&type=chunk) - General and administrative expenses for H1 2025, excluding stock-based compensation, increased to **$11.7 million** from **$8.7 million** in H1 2024, due to higher legal, consulting, and marketing costs[128](index=128&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) The company relies on debt and equity financing, raising **$40.4 million** from two direct offerings for the Mojave Groundwater Bank, with cash used in operations decreasing to **$5.0 million** in H1 2025, while investing activities increased to **$10.8 million** - Completed a registered direct offering in November 2024 for net proceeds of approximately **$22.1 million**[132](index=132&type=chunk) - Completed a registered direct offering in March 2025 for net proceeds of approximately **$18.3 million**[133](index=133&type=chunk) - In March 2024, the company amended its credit agreement, securing a new **$20 million** convertible term loan and extending the maturity of existing debt to June 30, 2027[139](index=139&type=chunk) - Cash used in operating activities decreased to **$5.0 million** in H1 2025 from **$9.9 million** in H1 2024, driven by lower working capital needs at ATEC[144](index=144&type=chunk) [Outlook](index=34&type=section&id=Outlook) The company has sufficient short-term working capital from recent equity offerings and cash on hand, but requires additional long-term capital for the Mojave Groundwater Bank and other projects, potentially through equity, debt, or asset dispositions - The company has sufficient funds for short-term working capital needs following the March 2025 Direct Offering[147](index=147&type=chunk) - Long-term capital will be needed to finance the Mojave Groundwater Bank, with the timing dependent on MWI funding and reimbursement of development costs[148](index=148&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=35&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, Cadiz Inc. is not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, the registrant is not required to provide quantitative and qualitative disclosures about market risk[152](index=152&type=chunk) [Controls and Procedures](index=35&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the last fiscal quarter - The Principal Executive Officer and Principal Financial Officer concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[153](index=153&type=chunk) - No material changes to the company's internal control over financial reporting were identified during the last fiscal quarter[154](index=154&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=37&type=section&id=ITEM%201.%20Legal%20Proceedings) No material changes to legal proceedings have occurred since the Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes to legal proceedings have occurred since the last annual report[157](index=157&type=chunk) [Risk Factors](index=37&type=section&id=ITEM%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the Annual Report on Form 10-K for the year ended December 31, 2024 - No material changes to risk factors have occurred since the last annual report[158](index=158&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This item is not applicable for the current reporting period - Not applicable[159](index=159&type=chunk) [Other Information](index=37&type=section&id=ITEM%205.%20Other%20Information) The company reported no Form 8-K information or nomination process modifications, and no director or officer adopted or terminated a Rule 10b5-1 trading arrangement during H1 2025 - During the six months ended June 30, 2025, no director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement[162](index=162&type=chunk) [Exhibits](index=38&type=section&id=ITEM%206.%20Exhibits) This section lists exhibits filed with the Quarterly Report on Form 10-Q, including CEO and CFO certifications under Sarbanes-Oxley and Inline XBRL financial data files - The report includes certifications from the CEO and CFO as required by Sections 302 and 906 of the Sarbanes-Oxley Act[166](index=166&type=chunk) - Inline XBRL documents are filed concurrently with the report[164](index=164&type=chunk)
Sharps Technology(STSS) - 2025 Q2 - Quarterly Report
2025-08-13 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-41355 Sharps Technology, Inc. (Exact name of registrant as specified in its charter) State or other jurisdiction of incorporation or organization (I.R.S. Employer Identification No.) ...
Biofrontera(BFRI) - 2025 Q2 - Quarterly Results
2025-08-13 21:22
[Business and Operational Highlights](index=1&type=section&id=Business%20and%20Operational%20Highlights) Biofrontera Inc. achieved double-digit revenue growth in H1 2025, driven by strategic restructuring, IP acquisition, and clinical trial advancements Revenue Performance | Period | Revenue | YoY Growth | | :--- | :--- | :--- | | Q2 2025 | $9.0 million | 15% | | H1 2025 | $17.7 million | 12% | - Cash and cash equivalents increased to **$7.2 million** as of June 30, 2025, from **$5.9 million** at the end of 2024[3](index=3&type=chunk) - A major restructuring with Biofrontera AG was agreed upon, including the acquisition of U.S. IP and NDAs, supported by an additional **$11 million** in funding[3](index=3&type=chunk) - A new U.S. patent was granted for a revised Ameluz® formulation, extending patent protection through **December 2043**[3](index=3&type=chunk) - Significant progress was made in clinical trials, including completing patient follow-up in a Phase 3 sBCC study and completing enrollment in Phase 3 and Phase 2b studies for AK and acne, respectively[3](index=3&type=chunk) [Strategic Restructuring with Biofrontera AG](index=2&type=section&id=Strategic%20Restructuring%20with%20Biofrontera%20AG) Biofrontera Inc. acquired all U.S. rights for Ameluz® and RhodoLED® from Biofrontera AG, shifting to a royalty model to enhance profitability - The company is acquiring all U.S. rights, approvals, patents, IP, NDA, and manufacturing capabilities for Ameluz® and RhodoLED® lamps from Biofrontera AG[4](index=4&type=chunk) Agreement Payment Structure Comparison | Agreement Term | Old Model (Transfer Pricing) | New Model (Royalty) | | :--- | :--- | :--- | | **Payment Structure** | 25% to 35% of net sales price per tube | 12% of revenue (if <$65M/yr) or 15% of revenue (if >$65M/yr) | - The restructuring and operational improvements are supported by a secured **$11 million** investment, positioning the company for future growth[4](index=4&type=chunk) [Financial Performance](index=2&type=section&id=Financial%20Performance) Revenue increased in Q2 and H1 2025 due to Ameluz® sales, but rising legal costs impacted net loss and Adjusted EBITDA [Second Quarter 2025 Financial Results](index=2&type=section&id=Second%20Quarter%202025%20Financial%20Results) Q2 2025 revenues grew 15% to $9.0 million, but increased legal costs and warrant fair value changes led to a widened net loss of $5.3 million Q2 2025 Revenue Performance | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $9.0 million | $7.8 million | +15% | | **Ameluz® Sales Volume** | - | - | +9.5% | Q2 2025 Operating Expenses | Expense Category | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Operating Expenses** | $14.1 million | $12.9 million | +9.3% | | **Cost of Revenues** | $2.6 million | $4.3 million | -41.8% | | **SG&A Expenses** | $10.5 million | $7.9 million | +32.9% | Q2 2025 Net Loss and Adjusted EBITDA | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Net Loss** | $5.3 million | $0.3 million | | **Adjusted EBITDA** | ($5.1 million) | ($4.7 million) | [Six-Month 2025 Financial Results](index=3&type=section&id=Six-Month%202025%20Financial%20Results) H1 2025 revenues rose 12% to $17.6 million, with legal expense increases largely offset by reduced cost of revenues, resulting in flat Adjusted EBITDA H1 2025 Revenue Performance | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $17.6 million | $15.8 million | +12% | H1 2025 Operating Expenses | Expense Category | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Operating Expenses** | $27.2 million | $26.3 million | +3.4% | | **Cost of Revenues** | $5.5 million | $8.0 million | -31.3% | | **SG&A Expenses** | $19.2 million | $17.2 million | +11.6% | H1 2025 Adjusted EBITDA | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | **Adjusted EBITDA** | ($9.5 million) | ($9.3 million) | [Financial Statements](index=5&type=section&id=Financial%20Statements) Consolidated financial statements detail the company's financial position and performance, highlighting changes in cash, liabilities, and stockholders' deficit [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, cash increased to $7.2 million, total assets decreased, and total liabilities rose to $24.8 million, leading to a $4.7 million stockholders' deficit Condensed Consolidated Balance Sheets | Balance Sheet Item | June 30, 2025 (in thousands) | Dec 31, 2024 (in thousands) | | :--- | :--- | :--- | | **Cash and cash equivalents** | $7,239 | $5,905 | | **Total current assets** | $18,815 | $20,700 | | **Total assets** | $20,142 | $22,101 | | **Total current liabilities** | $19,687 | $12,021 | | **Total liabilities** | $24,810 | $17,668 | | **Total stockholders' (deficit) equity** | $(4,668) | $4,433 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For H1 2025, the company reported $17.6 million in revenue and a net loss of $9.5 million, or ($1.05) per share Condensed Consolidated Statements of Operations (Six Months Ended June 30) | Statement of Operations (Six Months Ended June 30) | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | **Total revenues, net** | $17,617 | $15,750 | | **Total operating expenses** | $27,246 | $26,288 | | **Loss from operations** | $(9,629) | $(10,538) | | **Net loss** | $(9,527) | $(10,694) | | **Loss per common share (Basic and diluted)** | $(1.05) | $(2.45) | [GAAP to Non-GAAP Reconciliation](index=7&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliation) This section reconciles GAAP net loss to Adjusted EBITDA, showing a $(9,527) thousand net loss adjusted to $(9,520) thousand Adjusted EBITDA for H1 2025 GAAP to Non-GAAP Reconciliation (Six Months Ended June 30) | Reconciliation (Six Months Ended June 30) | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | **Net loss** | $(9,527) | $(10,694) | | **Adjustments (Interest, Tax, D&A, etc.)** | $2 | $1,386 | | **Adjusted EBITDA** | $(9,520) | $(9,308) | [Company Information and Forward-Looking Statements](index=4&type=section&id=Company%20Information%20and%20Forward-Looking%20Statements) Biofrontera Inc. is a U.S. biopharmaceutical company focused on dermatological PDT, with forward-looking statements subject to inherent risks and uncertainties - The company commercializes pharmaceutical products for dermatological conditions, with a focus on photodynamic therapy (PDT) and topical antibiotics for treating actinic keratoses[16](index=16&type=chunk) - The press release includes forward-looking statements concerning revenue guidance, business strategy, clinical trials, and market opportunities, which are subject to significant risks and uncertainties[17](index=17&type=chunk)
ALPHA PARTNERS(APTMU) - 2025 Q2 - Quarterly Report
2025-08-13 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40677 PLUM ACQUISITION CORP. III (Exact name of registrant as specified in its charter) Cayman Islands 98-1581691 (State or other ju ...
Plum Acquisition Corp. III(PLMJU) - 2025 Q2 - Quarterly Report
2025-08-13 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Cayman Islands 98-1581691 (State or other jurisdiction of incorporation or organization) 2021 Fillmore St., #2089, San Francisco, CA 94115 (Address of principa ...
Alpha Partners Technology Merger (APTM) - 2025 Q2 - Quarterly Report
2025-08-13 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40677 PLUM ACQUISITION CORP. III (Exact name of registrant as specified in its charter) Cayman Islands 98-1581691 (State or other ju ...
Plum Acquisition(PLMJ) - 2025 Q2 - Quarterly Report
2025-08-13 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40677 PLUM ACQUISITION CORP. III (Exact name of registrant as specified in its charter) Cayman Islands 98-1581691 (State or other ju ...