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Bain Capital GSS Investment Corp.

For the period ended Dec 31, 2025. Filed Mar 20, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 20, 2026

BCSS$10.24+0.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

For the period from March 24, 2025 (inception) through December 31,2025

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

001-42874

Bain Capital GSS Investment Corp.

(Exact Name of Registrant as Specified in Its Charter)

Cayman Islands98-1853296
(State or Other Jurisdiction ofIncorporation or Organization)(I.R.S. EmployerIdentification No.)
200 Clarendon StreetBoston, Massachusetts02116
(Address of Principal Executive Offices)Zip Code

Registrant’s telephone number, including area code:+1

617-516-2000

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTradingSymbol(s)Name of Each Exchangeon Which Registered
Class A ordinary shares, par value $0.0001 per shareBCSSThe New York Stock Exchange
Redeemable warrants, each whole warrant exercisable for oneClass A ordinary share at an exercise price of $11.50BCSS.WThe New York Stock Exchange
Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-fifth of one redeemable warrantBCSS.UThe New York Stock Exchange

Securities registered pursuant to Section 12(g) of the 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 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 of 1934 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.

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 Act). Yes☒ No ☐

As of June 30, 2025 (the last business day of the registrant’s second fiscal quarter), the registrant’s securities werenot publicly traded. The registrant’s units (the “Units”) began trading on the New York Stock Exchange (“NYSE”) on September 30, 2025 and the registrant’s Class A ordinary shares, par value $0.0001 (the “Class A ordinary shares”) and warrants included in the Units began separate trading on Nasdaq on November 20, 2025 at the option of the holders thereof. The aggregate market value of the ordinary shares (as defined below) issued and outstanding, other than shares held by persons who may be deemed affiliates of the registrant, computed by reference to the $10.08 closing sales price for the ordinary shares on December 31, 2025, as reported on the NYSE, was approximately $472.8 million..

As of March

, 2026, there were

46,900,000

Class A ordinary shares, $

0.0001

par

value and 11,500,000 Class B ordinary shares, $0.0001 par value, issued and outstanding.

ANNUAL REPORT ON FORM 10-K

TABLE OF CONTENTS

Page
Certain Termsii
Cautionary Note Regarding Forward-Looking Statements And Risk Factor Summaryiv
Part I1
Item 1.Business1
Item 1A.Risk Factors15
Item 1B.Unresolved Staff Comments59
Item 2.Property60
Item 3.Legal Proceedings60
Item 4.Mine Safety Disclosures60
Part II61
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities61
Item 6.[Reserved]62
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations62
Item 7A.Quantitative and Qualitative Disclosures about Market Risk65
Item 8.Financial Statements and Supplementary Data65
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure66
Item 9A.Controls and Procedures.66
Item 9B.Other Information.67
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections67
Part III68
Item 10.Directors, Executive Officers and Corporate Governance68
Item 11.Executive Compensation.76
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters77
Item 13.Certain Relationships and Related Transactions, and Director Independence79
Item 14.Principal Accountant Fees and Services.81
Part IV82
Item 15.Exhibits, Financial Statement Schedules82
Index to Financial StatementsF-1

i

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.