Quarterly ResultMay 13, 2026, 05:07 PM
KPET Ultra Paceline Q1 Net Loss $(40,043); Assets $2.65M
AI Summary
KPET Ultra Paceline Corporation, a blank check company, reported a net loss of $(40,043) for the three months ended March 31, 2026. The company's total assets increased significantly to $2,648,851 from $361,830 at December 31, 2025, primarily due to cash from pre-IPO activities and a related party loan. Total liabilities also rose to $2,726,763, leading to an increased shareholders' deficit of $(77,912). The company successfully completed its Initial Public Offering and private placement in April 2026, raising substantial capital for its business combination objective.
Key Highlights
- Net loss for Q1 2026 was $(40,043), resulting in a basic and diluted loss per share of $(0.01).
- Total assets increased to $2,648,851 as of March 31, 2026, from $361,830 at December 31, 2025.
- Cash balance stood at $1,759,111 as of March 31, 2026, up from $0 at December 31, 2025.
- Total liabilities increased to $2,726,763 as of March 31, 2026, from $400,221 at December 31, 2025.
- Shareholders' deficit increased to $(77,912) as of March 31, 2026, from $(38,391).
- The company received $2,350,000 due to a related party and invested $250,000 cash in the Trust Account.
- December 31, 2025 financial statements were restated, increasing deferred offering costs and promissory note by $42,935.
- Post-period, the IPO raised $200,000,000 and the over-allotment option raised an additional $30,000,000.