Centurion Acquisition Corp.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
ALF$10.85+0.3%Stored close · as of Nov 4, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-08.
0001213900-25-073656
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-13.
0001213900-25-109989
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 31 previous paragraphs and 31 current paragraphs.
23 unchanged; 8 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Reworded paragraphs (8)
Previous wording
For the three months ended June 30, 2025, we had a net income of $3,046,155, which consists of dividends and interest income on marketable securities and cash held in the Trust Account of $3,181,701 partially offset by formation and operating costs of $135,546.
Current wording
For the three months ended September 30, 2025, we had net income of $2,957,074, which consists of dividends and interest income on marketable securities and cash held in the Trust Account of $3,165,277 partially offset by formation and operating costs of $208,203.
Previous wording
For the three months ended June 30, 2024, we had a net income of $612,185, which consists of dividends and interest income on marketable securities and cash held in the Trust Account of $692,497 offset by formation and operating costs of $80,312.
Current wording
For the three months ended September 30, 2024, we had net income of $4,049,229, which consists of interest income on marketable securities held in the Trust Account of $4,223,192 and unrealized gain on marketable securities held in our Trust Account of $11,342, partially offset by formation and operating costs of $185,305.
Previous wording
For the six months ended June 30, 2025, we had a net income of $5,946,448, which consists of dividends and interest income on marketable securities and cash held in the Trust Account of $6,231,860 partially offset by formation and operating costs of $285,412.
Current wording
For the six months ended September 30, 2025, we had net income of $8,903,522 , which consists of dividends and interest income on marketable securities and cash held in the Trust Account of $9,397,137 partially offset by formation and operating costs of $493,615.
Previous wording
For the period from January 18, 2024 (inception) through June 30, 2024, we had a net income of $564,698, which consists of dividends and interest income on marketable securities and cash held in the Trust Account of $692,497 partially offset by formation and operating costs of $127,799.
Current wording
For the period from January 18, 2024 (inception) through September 30, 2024, we had net income of $4,613,927, which consists of interest income on marketable securities held in the Trust Account of $4,927,031, partially offset by formation and operating costs of $313,104.
Previous wording
For the six months ended June 30, 2025, cash used in operating activities was $242,262. Net income of $5,946,448 was affected by dividends and interest earned on marketable securities and cash held in the Trust Account of $6,231,577. Changes in operating assets and liabilities provided $42,867 of cash for operating activities.
Current wording
For the nine months ended September 30, 2025, cash used in operating activities was $438,525. Net income of $8,903,522 was affected by dividends and interest earned on marketable securities and cash held in the Trust Account of $9,396,756. Changes in operating assets and liabilities provided $54,709 of cash for operating activities.
Previous wording
For the period from January 18, 2024 (inception) through June 30, 2024, cash used in operating activities was $15,080. Net income of $564,698 was affected by payment of formation costs through promissory note of $8,667, payment of operation costs through promissory note of $327,200 and interest earned on marketable securities held in the Trust Account of $692,497. Changes in operating assets and liabilities used $223,148 of cash for operating activities.
Current wording
For the period from January 18, 2024 (inception) through September 30, 2024, cash used in operating activities was $48,758. Net income of $4,613,927 was affected by payment of formation costs through promissory note of $8,667, payment of operation costs through promissory note of $327,200 and interest earned on marketable securities held in the Trust Account of $4,926,838. Changes in operating assets and liabilities used $71,714 of cash for operating activities.
Previous wording
As of June 30, 2025, we had marketable securities held in the Trust Account of $302,037,539 consisting of U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations. We may withdraw dividends and interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable, if any), 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 September 30, 2025, we had marketable securities held in the Trust Account of $305,202,718 consisting of U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations. We may withdraw dividends and interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable, if any), 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 June 30, 2025, we had cash of $423,168. 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 a Business Combination.
Current wording
As of September 30, 2025, we had cash of $226,905. 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 a Business Combination.