American Drive Acquisition Co

Previous wording

For the three months ended March 31, 2026, we had a net income of $970,782, which consists of interest earned on marketable securities and cash held in Trust Account of $2,024,440, offset by general and administrative costs of $1,053,658.

Current wording

For the three months ended June 30, 2026, we had a net income of $1,384,938, which consists of interest earned on marketable securities and cash held in Trust Account of $2,055,776, offset by general and administrative costs of $670,838.

Previous wording

For the three months ended March 31, 2026, cash used in operating activities was $419,880. Net income of $970,782 was affected by interest earned on marketable securities held in Trust Account of $2,024,440. Changes in operating assets and liabilities provided $633,778 of cash for operating activities. As of March 31, 2026, the Company had cash of $994,167 and a working capital surplus of $205,742, compared to cash of $1,414,047 and a working capital surplus of $1,307,725 as of December 31, 2025.

Current wording

For the six months ended June 30, 2026, cash used in operating activities was $568,850. Net income of $2,355,720 was affected by interest earned on marketable securities held in Trust Account of $4,080,216. Changes in operating assets and liabilities provided $1,155,646 of cash for operating activities. As of June 30, 2026, the Company had cash of $845,197 and a working capital deficit of $448,137, compared to cash of $1,414,047 and a working capital surplus of $1,307,725 as of December 31, 2025.

Previous wording

As of March 31, 2026, we had marketable securities held in the Trust Account of $232,253,661 consisting of U.S. Treasury Bills with a maturity of 185 days or less. We may withdraw interest from the Trust Account as described above. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which interest shall be net of any permitted withdrawals and excluding deferred underwriting commissions), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

Current wording

As of June 30, 2026, we had marketable securities held in the Trust Account of $234,309,437 consisting of U.S. Treasury Bills with a maturity of 185 days or less. We may withdraw interest from the Trust Account as described above. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which interest shall be net of any permitted withdrawals and excluding deferred underwriting commissions), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

Previous wording

As of March 31, 2026, we had cash of $994,167. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete our Business Combination.

Current wording

As of June 30, 2026, we had cash of $845,197. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete our Business Combination.

Previous wording

The preparation of the unaudited condensed financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, and income and expenses during the periods reported. Making estimates requires management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could materially differ from those estimates. As of March 31, 2026, we have identified estimates involving significant judgment related to the valuation of the Warrants at the Initial Public Offering and Founder Shares.

Current wording

The preparation of the unaudited condensed financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, and income and expenses during the periods reported. Making estimates requires management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could materially differ from those estimates. As of June 30, 2026, we did not have identified any critical accounting estimates to be disclosed.