Talon Capital Corp.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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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 14, 2025
TLNC$10.27-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Balance Sheet as of September 30, 2025 (Unaudited)
CONDENSED BALANCE SHEET
| Assets: | |
|---|---|
| Current assets | |
| Cash | $3,096,635 |
| Other receivable | 185,111 |
| Prepaid insurance | 77,500 |
| Total current assets | 3,359,246 |
| Long-term prepaid insurance | 71,042 |
| Cash held in Trust Account | 249,431,925 |
| Total Assets | $252,862,213 |
| Liabilities and Shareholders’ Deficit | |
| Current liabilities | |
| Accounts payable and accrued expenses | $70,627 |
| Accrued offering costs | 75,000 |
| Advances from related party | 22,905 |
| Total current liabilities | 168,532 |
| Deferred underwriting fee | 10,200,000 |
| Total Liabilities | 10,368,532 |
| Commitments (Note 6) | |
| Class A ordinary shares subject to possible redemption, $0.0001 par value; 24,900,000 shares at redemption value of $10.02 per share | 249,586,184 |
| Shareholders’ Deficit | |
| Preference shares, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding | — |
| Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 779,000 shares issued and outstanding (excluding 24,900,000 shares subject to possible redemption) | 78 |
| Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 8,300,000 shares issued and outstanding(1)(2) | 830 |
| Additional paid-in capital | — |
| Accumulated deficit | (7,093,411) |
| Total Shareholders’ Deficit | (7,092,503) |
| Total Liabilities and Shareholders’ Deficit | $252,862,213 |
| (1) | On August 8, 2025, the Company effected a 1 to 1.5 share split for which the Company issued an additional 2,875,000 founder shares to the Sponsor for no additional consideration, resulting in the Sponsor holding an aggregate 8,625,000 founder shares issued and outstanding. All share and per share amounts have been retroactively presented (Note 5). |
| (2) | Includes 1,125,000 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters. Subsequently, on September 10, 2025, as a result of the partial exercise and the forfeiture of the over-allotment option by the underwriters, 800,000 founder shares are no longer subject to forfeiture and 325,000 founder shares were forfeited, resulting in the Sponsor holding 8,260,000 founder shares (after taking into account the assignment of 40,000 founder shares to the directors) (Note 5). |
CONDENSED STATEMENTS OF OPERATIONS
| For the Three Months Ended September 30, | For the Period from May 1, 2025 (Inception) Through September 30, | |
|---|---|---|
| 2025 | 2025 | |
| General and administrative costs | $159,097 | $196,354 |
| Loss from operations | (159,097) | (196,354) |
| Other income (expense): | ||
| Compensation Expense | (74,000) | (74,000) |
| Interest earned on cash held in Trust Account | 617,036 | 617,036 |
| Other income, net | 543,036 | 543,036 |
| Net income | $383,939 | $346,682 |
| Basic weighted average shares outstanding, Class A ordinary shares | 5,643,736 | 3,378,816 |
| Basic net income per share, Class A ordinary shares | $0.03 | $0.03 |
| Diluted weighted average shares outstanding, Class A ordinary shares | 5,643,736 | 3,378,816 |
| Diluted net income per share, Class A ordinary shares | $0.03 | $0.03 |
| Basic weighted average shares outstanding, Class B ordinary shares (1) | 7,675,824 | 7,605,263 |
| Basic net income per share, Class B ordinary shares | $0.03 | $0.03 |
| Diluted weighted average shares outstanding, Class A non-redemable and Class B non-redeemable ordinary shares (2) | 8,300,000 | 7,978,947 |
| Diluted net income per share, Class B non-redeemable ordinary shares | $0.03 | $0.03 |
| (1) | On August 8, 2025, the Company effected a 1 to 1.5 share split for which the Company issued an additional 2,875,000 founder shares to the Sponsor for no additional consideration, resulting in the Sponsor holding an aggregate 8,625,000 founder shares issued and outstanding. All share and per share amounts have been retroactively presented (Note 5). |
| (2) | Includes 1,125,000 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters. Subsequently, on September 10, 2025, as a result of the partial exercise and the forfeiture of the over-allotment option by the underwriters, 800,000 founder shares are no longer subject to forfeiture and 325,000 founder shares were forfeited, resulting in the Sponsor holding 8,260,000 founder shares (after taking into account the assignment of 40,000 founder shares to the directors) (Note 5). |
The accompanying notes are an integral part of the unaudited condensed financial statement.
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025 AND
FOR THE PERIOD FROM MAY 1, 2025 (INCEPTION) THROUGH SEPTEMBER 30, 2025
| Class A Ordinary Shares · Class B Ordinary Shares · Additional Paid-in · Accumulated · Total Shareholders’ | |||||||
|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares (1)(2) | Amount | Capital | Deficit | Deficit | |
| Balance — May 1, 2025 (inception) | — | $— | — | $— | $— | $— | $— |
| Class B ordinary shares issued to Sponsor | — | — | 8,625,000 | 863 | 24,137 | — | 25,000 |
| Net loss | — | — | — | — | — | (37,257) | (37,257) |
| Balance – June 30, 2025 | — | — | 8,625,000 | 863 | 24,137 | (37,257) | (12,257) |
| Sale of 779,000 Private Placement Units | 779,000 | 78 | — | — | 7,789,922 | — | 7,790,000 |
| Fair value of Public Warrants at issuance | — | — | — | — | 1,817,700 | — | 1,817,700 |
| Allocated value of transaction costs to Class A shares | — | — | — | — | (122,734) | — | (122,734) |
| Forfeiture of founder shares | — | — | (325,000) | (33) | 33 | — | — |
| Fair value of founder Shares assigned to directors | — | — | — | — | 74,000 | — | 74,000 |
| Accretion for Class A ordinary shares to redemption amount | — | — | — | — | (9,583,058) | (7,440,093) | (17,023,151) |
| Net income | — | — | — | — | — | 383,939 | 383,939 |
| Balance – September 30, 2025 | 779,000 | $78 | 8,300,000 | $830 | $— | $(7,093,411) | $(7,092,503) |
| (1) | On August 8, 2025, the Company effected a 1 to 1.5 share split for which the Company issued an additional 2,875,000 founder shares to the Sponsor for no additional consideration, resulting in the Sponsor holding an aggregate 8,625,000 founder shares issued and outstanding. All share and per share amounts have been retroactively presented (Note 5). |
| (2) | Includes 1,125,000 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters. Subsequently, on September 10, 2025, as a result of the partial exercise and the forfeiture of the over-allotment option by the underwriters, 800,000 founder shares are no longer subject to forfeiture and 325,000 founder shares were forfeited, resulting in the Sponsor holding 8,260,000 founder shares (after taking into account the assignment of 40,000 founder shares to the directors) (Note 5). |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.