Melar Acquisition Corp ICayman
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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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, 2024 · Filed Nov 12, 2024
MACI$8.60+10.3%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, 2024 (Unaudited)
CONDENSED BALANCE SHEET
SEPTEMBER 30, 2024
| | | | |
|---|---|---|---|
| ASSETS · | |||
| Current assets · | |||
| Cash | | $934,098 | |
| Prepaid expenses | | 170,603 | |
| Total Current Assets | | 1,104,701 | |
| | | | |
| Long-term prepaid expenses | | 109,422 | |
| Cash and marketable securities held in Trust Account | | 162,531,350 | |
| TOTAL ASSETS | | $163,745,473 | |
| | | | |
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | | ||
| Current liabilities | | ||
| Accounts payable | | $11,343 | |
| Total current liabilities | | 11,343 | |
| | | | |
| Deferred underwriting fee | | 6,600,000 | |
| Total Liabilities | | 6,611,343 | |
| | | | |
| Commitments and Contingencies (Note 6) | | ||
| | | | |
| Class A ordinary shares subject to possible redemption, 16,000,000 shares at redemption value of approximately $10.16 per share | | 162,531,350 | |
| | | | |
| Shareholders’ deficit | | ||
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding | | — | |
| Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; none issued or outstanding (excluding 16,000,000 shares subject to possible redemption) | | — | |
| Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 5,621,622 shares issued and outstanding | | 562 | |
| Additional paid-in capital | | — | |
| Accumulated deficit | | (5,397,782) | |
| Total Shareholders’ Deficit | | (5,397,220) | |
| TOTAL LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS’ DEFICIT | | $163,745,473 | |
CONDENSED STATEMENTS OF OPERATIONS
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the | ||||||
| · · · · Period from | ||||||
| · · · · · March 11, 2024 | ||||||
| · · Three Months · · (Inception) | ||||||
| · · Ended · · Through | ||||||
| · · September 30, · · September 30, | ||||||
| · 2024 · 2024 | ||||||
| General and administrative costs | | $130,378 | | $238,107 | ||
| Loss from operations | | (130,378) | | (238,107) | ||
| | | | | | | |
| Other income: | | | ||||
| Change in fair value of over-allotment option liability | | 141,754 | | 169,119 | ||
| Interest on cash held in the operating account | | | 743 | | | 743 |
| Interest earned on cash and marketable securities held in Trust Account | | 2,363,818 | | 2,531,350 | ||
| Total other income | | 2,506,315 | | 2,701,212 | ||
| | | | | | | |
| Net income | | $2,375,937 | | $2,463,105 | ||
| | | | | | | |
| Weighted average shares outstanding, Class A ordinary shares subject to possible redemption | | 16,000,000 | | 8,039,409 | ||
| | | | | | | |
| Basic and diluted net income per share, Class A ordinary shares subject to possible redemption | | $0.11 | | $0.18 | ||
| | | | | | | |
| Weighted average shares outstanding, Class B non-redeemable ordinary shares | | 5,621,622 | | 5,446,811 | ||
| | | | | | | |
| Basic net income per share, Class B non-redeemable ordinary shares | | $0.11 | | $0.18 | ||
| | | | | | | |
| Weighted average shares outstanding, Class B non-redeemable ordinary shares | | 5,621,622 | | 5,585,275 | ||
| | | | | | | |
| Diluted net income per share, Class B non-redeemable ordinary shares | | $0.11 | | $0.18 | ||
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT
THREE MONTHS ENDED SEPTEMBER 30, 2024 AND
FOR THE PERIOD FROM MARCH 11, 2024 (INCEPTION) THROUGH SEPTEMBER 30, 2024
| | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · Class A · Class B · Additional · · Total | |||||||||||||||||||
| · · Ordinary Shares · · Ordinary Shares · · Paid-in · · Accumulated · · Shareholders’ | |||||||||||||||||||
| · Shares · Amount · Shares · Amount · Capital · Deficit · Equity (Deficit) | |||||||||||||||||||
| Balance — March 11, 2024 (inception) | | — | | $— | | — | | $— | | $— | | $— | | $— | |||||
| | | | | | | | | | | | | | | | | | | | |
| Issuance of Class B ordinary shares to Sponsor | | — | | — | | 6,060,811 | | 606 | | 24,394 | | — | | 25,000 | |||||
| | | | | | | | | | | | | | | | | | | | |
| Net loss | | — | | — | | — | | — | | — | | (19,135) | | (19,135) | |||||
| | | | | | | | | | | | | | | | | | | | |
| Balance – March 31, 2024 | | — | | — | | 6,060,811 | | $606 | | $24,394 | | $(19,135) | | $5,865 | |||||
| | | | | | | | | | | | | | | | | | | | |
| Accretion for Class A ordinary shares to redemption amount | | — | | — | | — | | — | | (6,943,752) | | (5,497,113) | | (12,440,865) | |||||
| | | | | | | | | | | | | | | | | | | | |
| Sale of 5,000,000 Private Placement Warrants | | — | | — | | — | | — | | 5,000,000 | | — | | 5,000,000 | |||||
| | | | | | | | | | | | | | | | | | | | |
| Fair value of Public Warrants at issuance | | — | | — | | — | | — | | 2,080,000 | | — | | 2,080,000 | |||||
| | | | | | | | | | | | | | | | | | | | |
| Allocated value of transaction costs to Public and Private Warrants | | — | | — | | — | | — | | (160,642) | | — | | (160,642) | |||||
| | | | | | | | | | | | | | | | | | | | |
| Net income | | — | | — | | — | | — | | — | | 106,303 | | 106,303 | |||||
| | | | | | | | | | | | | | | | | | | | |
| Balance – June 30, 2024 | | — | | $— | | 6,060,811 | | $606 | | $— | | $(5,409,945) | | $(5,409,339) | |||||
| | | | | | | | | | | | | | | | | | | | |
| Forfeiture of Class B ordinary shares from Sponsor | | — | | | — | | (439,189) | | | (44) | | | — | | | 44 | | | — |
| | | | | | | | | | | | | | | | | | | | |
| Accretion for Class A ordinary shares to redemption amount | | — | | | — | | — | | | — | | | — | | | (2,363,818) | | | (2,363,818) |
| | | | | | | | | | | | | | | | | | | | |
| Net income | | — | | | — | | — | | | — | | | — | | | 2,375,937 | | | 2,375,937 |
| | | | | | | | | | | | | | | | | | | | |
| Balance – September 30, 2024 | | — | | $— | | 5,621,622 | | $562 | | $— | | $(5,397,782) | | $(5,397,220) | |||||
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