Quarterly ResultJun 26, 2026, 04:34 PM
Peace Acquisition Corp. Q1 Net Loss $56,387; IPO Completed, Going Concern
AI Summary
Peace Acquisition Corp. reported a net loss of $56,387 for the first quarter of 2026, resulting in a shareholders' equity deficit of $22,813 and a working capital deficit of $242,349 as of March 31, 2026. The company's management has raised substantial doubt about its ability to continue as a going concern. Post-period, the company successfully completed its Initial Public Offering (IPO) on May 26, 2026, selling 6,000,000 units at $10.00 each, and a private placement of 262,500 units, with proceeds placed into a trust account for a future business combination. The underwriter's over-allotment option was terminated on June 10, 2026, leading to the forfeiture of 300,000 founder shares.
Key Highlights
- Reported net loss of $56,387 for the three months ended March 31, 2026.
- Shareholders' equity shifted to a deficit of $22,813 as of March 31, 2026.
- Working capital deficit stood at $242,349 as of March 31, 2026.
- Completed IPO on May 26, 2026, selling 6,000,000 units at $10.00 per unit.
- Simultaneously closed private placement of 262,500 units at $10.00 per unit.
- Underwriter terminated over-allotment option on June 10, 2026, leading to forfeiture of 300,000 founder shares.
- Cash balance was $1,025 as of March 31, 2026.
Price Impact
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