Quarterly ResultMay 14, 2026, 04:21 PM
OTGA Q1 Net Income $1.7M; Trust Account $235.7M
AI Summary
OTG Acquisition Corp. I reported a net income of $1,696,575 for the three months ended March 31, 2026, primarily from $1,986,548 in interest earned on its Trust Account. The company, a blank check entity, held $235,656,429 in its Trust Account as it continues to search for a business combination. Despite the income, management expressed substantial doubt about the company's ability to continue as a going concern due to its liquidity condition, which it aims to resolve through a business combination.
Key Highlights
- Net income for the three months ended March 31, 2026, was $1,696,575.
- Interest earned on cash and marketable securities in Trust Account was $1,986,548.
- Cash and marketable securities held in Trust Account totaled $235,656,429.
- Total Assets as of March 31, 2026, were $236,435,426.
- Basic and diluted net income per share for Class A and B ordinary shares was $0.06.
- Working capital as of March 31, 2026, was $577,897.
- Management identified substantial doubt about the company's ability to continue as a going concern.