Quarterly ResultMay 12, 2026, 04:23 PM
Newbury Street II Acquisition Corp Q1 Net Income $1.39M
AI Summary
Newbury Street II Acquisition Corp reported a net income of $1.39 million for the three months ended March 31, 2026, a decrease from $1.69 million in the same period last year. The company's general and administrative costs increased, while interest earned on its Trust Account decreased. The SPAC continues to seek a business combination, with a deadline of November 4, 2026, and noted board changes from May 2025.
Key Highlights
- Net income for Q1 2026 was $1,386,245, down from $1,685,254 in Q1 2025.
- General and administrative costs increased to $219,150 in Q1 2026 from $155,106 in Q1 2025.
- Interest earned on the Trust Account decreased to $1,598,972 in Q1 2026 from $1,828,144 in Q1 2025.
- Cash and securities held in the Trust Account totaled $183,446,346 as of March 31, 2026.
- The company has until November 4, 2026, to complete its initial Business Combination.
- Total Shareholders' Deficit was $(5,501,264) as of March 31, 2026.
- Matthew Hong resigned from the Board and Audit Committee on May 28, 2025.
- Anthony James Vinciquerra and William Zachre Wyatt were appointed as directors on May 28, 2025.