Quarterly ResultMay 14, 2026, 05:06 PM
K2 Capital Acquisition Corp Reports $300K Net Income; IPO Completed
AI Summary
K2 Capital Acquisition Corp reported a net income of $300,812 for the three months ended March 31, 2026, with basic and diluted EPS of $0.02 for both Class A and Class B ordinary shares. This positive financial shift follows the successful completion of its Initial Public Offering on January 30, 2026, which generated gross proceeds of $138 million. The company also sold $2.615 million in Private Placement Units and placed $138 million into a Trust Account, significantly increasing its total assets to $140 million and moving its shareholders' equity from a deficit to $952,065.
Key Highlights
- Completed Initial Public Offering on January 30, 2026, raising $138,000,000.
- Reported net income of $300,812 for the three months ended March 31, 2026.
- Basic and diluted EPS for Class A and Class B ordinary shares was $0.02.
- Total assets increased to $140,003,658 as of March 31, 2026, from $754,679.
- Investments held in Trust Account totaled $138,779,596 as of March 31, 2026.
- Shareholders' equity improved to $952,065 from a $72,057 deficit.
- Sold 326,875 Private Placement Units for $2,615,000.
- Sponsor received additional 985,715 Founder Shares, totaling 5,914,286.