Quarterly ResultMay 6, 2026, 05:26 PM
Oyster Enterprises II Q1 Net Income $2.09M; Trust Account $261.5M
AI Summary
Oyster Enterprises II Acquisition Corp reported a net income of $2.09 million for the three months ended March 31, 2026, a significant improvement from a net loss of $25,100 in the prior year period. This was primarily driven by $2.25 million in interest earned on investments held in its Trust Account. The company's Trust Account balance increased to $261.5 million as of March 31, 2026, up from $259.2 million at December 31, 2025. The SPAC continues to seek a business combination, with a deadline of May 23, 2027.
Key Highlights
- Q1 2026 net income was $2.09 million, up from a $25,100 net loss in Q1 2025.
- Interest earned on Trust Account investments totaled $2.25 million in Q1 2026.
- Cash and securities in Trust Account reached $261.5 million as of March 31, 2026.
- Total Assets stood at $262.4 million as of March 31, 2026.
- Basic and diluted net income per Class A Ordinary Share was $0.06 for Q1 2026.
- Cash balance was $691,167 as of March 31, 2026.
- The company has until May 23, 2027, to complete its initial Business Combination.