Indigo Acquisition Corp.
For the period ended Sep 30, 2026. Filed Nov 2, 2026.
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, 2026 · Filed Nov 2, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0001213900-26-086122
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-02.
0001213900-26-115031
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 30 previous paragraphs and 30 current paragraphs.
21 unchanged; 9 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 (9)
Previous wording
For the three months ended June 30, 2026, we had a net income of $927,520, which consists of interest income of $1,048,125 offset by formation and operating costs of $120,605.
Current wording
For the three months ended September 30, 2026, we had a net income of $950,826, which consists of interest income of $1,090,169 offset by formation and operating costs of $139,343.
Previous wording
For the six months ended June 30, 2026, we had a net income of $1,801,126, which consists of interest income of $2,084,106 offset by formation and operating costs of $282,980.
Current wording
For the nine months ended September 30, 2026, we had a net income of $2,751,952, which consists of interest income of $3,174,275 offset by formation and operating costs of $422,323.
Previous wording
For the three months ended June 30, 2025, we had a net loss of $62,889, which consists of formation and operating costs of $62,895, offset by interest income of $6.
Current wording
For the three months ended September 30, 2025, we had a net income of $1,013,198, which consists of formation and operating costs of $152,601, offset by other income from change on overallotment liability of $587 and interest income of $1,165,212.
Previous wording
For the six months ended June 30, 2025, we had a net loss of $197,509, which consists of share based compensation expense of $108,750 and formation and operating costs of $88,765, offset by interest income of $6.
Current wording
For the nine months ended September 30, 2025, we had a net income of $815,689, which consists of share based compensation expense of $108,750 and formation and operating costs of $241,360, offset by interest income of $1,165,212 and by other income from change on overallotment liability of $587.
Previous wording
For the six months ended June 30, 2026, cash used in operating activities was $287,058. Net income of $1,801,126 was affected by interest earned on marketable securities held in Trust Account of $2,084,106 and changes in operating assets and liabilities used $4,078 of cash for operating activities.
Current wording
For the nine months ended September 30, 2026, cash used in operating activities was $403,167. Net income of $2,751,952 was affected by interest earned on marketable securities held in Trust Account of $3,174,275 and changes in operating assets and liabilities used $19,156 of cash for operating activities.
Previous wording
For the six months ended June 30, 2025, cash used in operating activities was $53,009. Net loss of $197,509 was affected by compensation expense to directors of $108,750. Changes in operating assets and liabilities provided $35,750 of cash for operating activities.
Current wording
For the nine months ended September 30, 2025, cash used in operating activities was $425,844. Net income of $815,689 was affected by compensation expense to directors of $108,750, Interest earned on marketable securities held in Trust Account of $1,165,212, and change in fair value of over-allotment liability of $587. Changes in operating assets and liabilities used $184,484 of cash for operating activities.
Previous wording
As of June 30, 2026, we had marketable securities held in the Trust Account of $119,382,477 (including $4,382,477 of interest income) consisting of U.S. Treasury Bills with a maturity of 185 days or less. We may withdraw 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), 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, 2026, we had marketable securities held in the Trust Account of $120,472,646 (including $5,472,646 of interest income) consisting of U.S. Treasury Bills with a maturity of 185 days or less. We may withdraw 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), 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, 2026, we had cash of $379,862. 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, 2026, we had cash of $188,753. 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.
Previous wording
We plan to address this uncertainty through a Business Combination. If a Business Combination is not consummated by the end of the Combination Period, currently April 2, 2027, there will be mandatory liquidation and subsequent dissolution of the Company. We have determined that the liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after the Combination Period. The Company intends to complete the initial Business Combination before the end of the Combination Period. However, there can be no assurance that the Company will be able to consummate any Business Combination by the end of the Combination Period.
Current wording
We plan to address this uncertainty through a Business Combination. If a Business Combination is not consummated by the end of the Combination Period, currently April 2, 2027, and such period is not otherwise extended by shareholders, there will be mandatory liquidation and subsequent dissolution of the Company. We have determined that the liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after the Combination Period. The Company intends to complete the initial Business Combination before the end of the Combination Period. However, there can be no assurance that the Company will be able to consummate any Business Combination by the end of the Combination Period or at all.