UY Scuti Acquisition Corp.
For the period ended Mar 31, 2026. Filed Jul 14, 2026.
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FY2026 · Filed Jul 14, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended March 31,2026
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission File No.001-42577
UY Scuti Acquisition Corporation
(Exact name of registrant as specified in its charter)
| Cayman Islands | N/A |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 39 E. Broadway, Suite 603 New York, New York | 10002 |
|---|---|
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (412)947-0514
Securities registered pursuant to Section 12(b) of the Exchange Act
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Units, each consisting of one Ordinary Share, $0.0001 par value, and one right | UYSCU | The Nasdaq Stock Market LLC |
| Ordinary Shares, $0.0001 par value | UYSC | The Nasdaq Stock Market LLC |
| Rights to receive one-fifth (1/5th) of one Ordinary Share | UYSCR | The Nasdaq Stock Market LLC |
Securities registered pursuant to Section 12(g) of the Securities Exchange Act: None.
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No ☒
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 (d) of the Securities Exchange Act. Yes ☐No ☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☒ No ☐
The aggregate market value of the registrant’s Ordinary Shares outstanding at September 30, 2025, other than ordinary shares held by persons who may be deemed affiliates of the registrant, computed by reference to the closing price for the Ordinary Shares on such date, as reported by the Nasdaq Stock Market LLC, was $60,697,000 (based upon a per share closing price of $10.15 on September 30, 2025).
As of July 8, 2026, assuming all units have been separated, the Registrant had 5,221,060 ordinary shares outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
None.
TABLE OF CONTENTS
| PAGE | |
|---|---|
| PART I | 1 |
| Item 1. Business | 1 |
| Item 1A. Risk Factors | 28 |
| Item 1B. Unresolved Staff Comments | 79 |
| Item 1C. Cybersecurity | 79 |
| Item 2. Properties | 79 |
| Item 3. Legal Proceedings | 79 |
| Item 4. Mine Safety Disclosure | 79 |
| PART II | 80 |
| Item 5. Market for the Registrant’s Common Equity, and Related Stockholder Matters and Issuer Purchases of Equity Securities | 80 |
| Item 6. Reserved | 81 |
| Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 82 |
| Item 7A. Quantitative and Qualitative Disclosures About Market Risk | 89 |
| Item 8. Financial Statements and Supplementary Data | 89 |
| Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 89 |
| Item 9A. Controls and Procedures | 89 |
| Item 9B. Other Information | 89 |
| Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 89 |
| PART III | 90 |
| Item 10. Directors, Executive Officers and Corporate Governance | 90 |
| Item 11. Executive Compensation | 98 |
| Item 12. Security Ownership of Certain Beneficial Owners and Management | 98 |
| Item 13. Certain Relationships and Related Transactions | 100 |
| Item 14. Principal Accountant Fees and Services | 103 |
| PART IV | 104 |
| Item 15. Exhibits and Financial Statement Schedules | 104 |
i
CERTAIN TERMS
Unless otherwise stated in this Annual Report on Form 10-K (this “Annual Report”), references to:
| ● | “Amended and Restated Memorandum and Articles of Association” are to our second amended and restated memorandum and articles of association in effect as amended and/or restated from time to time; |
| ● | “Companies Act” are to the Companies Act (Revised) of the Cayman Islands as the same may be amended from time to time; |
| ● | “founder shares” are to the 1,437,500 ordinary shares initially purchased by our sponsor in a private placement purchase prior to the initial public offering; |
| ● | “initial shareholders” are to the holders of our founder shares prior to the initial public offering; |
| ● | “letter agreement” refers to the letter agreement, the form of which is filed as an exhibit to the registration statement of which the prospectus formed a part; |
| ● | “management” or our “management team” are to our officers and directors; |
| ● | “ordinary shares” are to our ordinary shares, par value $0.0001 per share, which include the public shares as well as the private placement shares; |
| ● | “Prescribed Time Frame” means, after giving effect to the amendment to our Amended and Restated Memorandum and Articles of Association on March 31, 2026, the period of time: (a) commencing on, and including, the closing date of the Initial Public Offering; and (b) ending on the date that is twenty-four (24) months after the closing date of the Initial Public Offering, or such later date as our shareholders may approve in accordance with our Amended and Restated Memorandum and Articles of Association; |
| ● | “private placement rights” are to the rights underlying the private placement units; |
| ● | “private placement shares” are to the ordinary shares underlying the private placement units; |
| ● | “private placement units” are to the units issued to our sponsor and/or its designees in a private placement simultaneously with the closing of the initial public offering; |
| ● | “public rights” are to the rights sold as part of the units in the initial public offering (whether they are subscribed for in the initial public offering or acquired in the open market); |
| ● | “public shares” are to our ordinary shares offered as part of the units in the initial public offering (whether they are subscribed for in the initial public offering or acquired thereafter in the open market); |
| ● | “public shareholders” are to the holders of our public shares; |
| ● | “rights” are to our rights, which include the public rights as well as the private placement rights to the extent they are no longer held by the initial purchasers of the private placement units or their permitted transferees; |
| ● | “sponsor” is to UY Scuti Investments Limited, a British Virgin Islands company; and |
| ● | “we,” “us,” “company,” or “our company” are to UY Scuti Acquisition Corp., a Cayman Islands exempted company. |
ii
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Some statements contained in this Annual Report are forward-looking in nature. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this Annual Report may include, for example, statements about:
| ● | our ability to complete our initial business combination; |
| ● | our success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination; |
| ● | our officers and directors allocating their time to other businesses and potentially having conflicts of interest with our business or in approving our initial business combination, as a result of which they would then receive expense reimbursements; |
| ● | our potential ability to obtain additional financing to complete our initial business combination; |
| ● | our pool of prospective target businesses; |
| ● | the ability of our officers and directors to generate a number of potential acquisition opportunities; |
| ● | our public securities’ potential liquidity and trading; |
| ● | the lack of a market for our securities; |
| ● | the use of proceeds not held in the trust account or available to us from interest income on the trust account balance; or |
| ● | our financial performance following the IPO. |
The forward-looking statements contained in this Annual Report are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
iii
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.