Cayson Acquisition Corp
For the period ended Mar 31, 2026. Filed May 15, 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.
Mar 31, 2026 · Filed May 15, 2026
CAPN$11.46+0.1%Stored close · as of Nov 3, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-12.
0001493152-25-021969
Item 2. – Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-15.
0001493152-26-023854
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 52 previous paragraphs and 52 current paragraphs.
43 unchanged; 7 reworded; 2 added; 2 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.
Added paragraphs (2)
Current report
As of March 31, 2026, our cash was $64,433.
Current report
For the three months ended March 31, 2026, cash used in financing activities was $27,411,647, consisting of payment of $27,536,647 made in relation to redemption of ordinary shares and proceed of $125,000 from promissory notes.
Removed paragraphs (2)
Previous report
For the period from May 27, 2024 (inception) through September 30, 2024, we had a net loss of $91,197, which resulted entirely from formation and operating costs incurred prior to the IPO.
Previous report
For the nine months ended September 30, 2025, cash provided by financing activities was $600,000, consisting of $300,000 of proceeds from promissory notes and $300,000 of proceeds from promissory notes – related party.
Reworded paragraphs (7)
Previous wording
For the three months ended September 30, 2025, we had net income of $415,606 which consisted of a loss of $234,096 derived from formation and operating costs, offset by interest earned on cash and investments held in the Trust Account of $648,039 and bank interest income of $1,663.
Current wording
For the three months ended March 31, 2026, we had a net income of $252,400, which consists of loss of $294,218 derived from formation and operating costs offset by interest earned on cash and investments held in Trust Account of $545,855 and bank interest income of $763.
Previous wording
For the nine months ended September 30, 2025, we had net income of $1,203,841, which consisted of a loss of $729,008 derived from formation and operating costs, offset by interest earned on cash and investments held in the Trust Account of $1,924,226 and bank interest income of $8,623.
Current wording
For the three months ended March 31, 2025, we had a net income of $404,677, which consists of loss of $235,799 derived from formation and operating costs offset by interest earned on cash and investments held in Trust Account of $636,174 and bank interest income of $4,302.
Previous wording
For the nine months ended September 30, 2025, cash used in operating activities was $377,356. Net income of $1,203,841 was reduced by $1,924,226 of interest earned on cash and investments held in the Trust. Changes in operating assets and liabilities provided $343,029 of cash for operating activities.
Current wording
For the three months ended March 31, 2026, cash and investments provided by operating activities was $763. Net income of $252,400 was adjusted by interest earned on cash and investments held in the Trust Account of $545,855. Changes in operating assets and liabilities used $294,218 of cash for operating activities.
Previous wording
For the nine months ended September 30, 2025, cash used in investing activities was $600,000. which represents the extension payment deposited into an escrow account maintained by the Company’s trustee, Continental, in connection with the Company’s extension of the deadline to consummate a Business Combination. Such funds are subject to possible redemption by the Company’s public shareholders in accordance with the terms of the Trust Account.
Current wording
For the three months ended March 31, 2026, cash provided by investing activities was $27,411,647. which represents the cash withdrawn from trust account in connection with redemption, and the extension payment deposited into the Trust account, in connection with the Company’s extension of the deadline to consummate a Business Combination. Such funds are subject to possible redemption by the Company’s public shareholders in accordance with the terms of the Trust Account.
Previous wording
As of September 30, 2025, we had cash and investments held in the Trust Account of $62,676,305. 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 March 31, 2026, we had cash and investments held in the Trust Account of $37,622,133. 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 September 30, 2025, we had a cash balance of $87,898 held outside the Trust Account and working capital deficit of $481,777. We intend to use the funds held outside the Trust Account primarily to pay existing accounts payable, identify and evaluate target business combination candidates, perform business due diligence on prospective target businesses, pay for travel expenditures to plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, structure, negotiate and complete a Business Combination, and to pay for directors and officers liability insurance premiums.
Current wording
As of March 31, 2026, we had a cash balance of $64,433 held outside the Trust Account and working capital deficit of $1,351,907. We intend to use the funds held outside the Trust Account primarily to pay existing accounts payable, identify and evaluate target business combination candidates, perform business due diligence on prospective target businesses, pay for travel expenditures to plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, structure, negotiate and complete a Business Combination, and to pay for directors and officers liability insurance premiums.
Previous wording
Commencing on September 19, 2024, one of the Sponsors will be allowed to charge the Company an allocable share of its overhead, up to $10,000 per month to the close of the Business Combination, to compensate it for the Company’s use of its office, utilities and personnel. As of September 30, 2025 and December 31, 2024, an administration fee of $4,194 has been accrued to accrued expenses, respectively.
Current wording
Commencing on September 19, 2024, one of the Sponsors will be allowed to charge the Company an allocable share of its overhead, up to $10,000 per month to the close of the Business Combination, to compensate it for the Company’s use of its office, utilities and personnel. As of March 31, 2026 and December 31, 2025, an administration fee of $44,000 and $14,000 has been accrued to accrued expenses, respectively.