Quarterly ResultMay 8, 2026, 04:12 PM
Siddhi Acquisition Corp Q1 Net Income $2.24M; Trust Account $288.4M
AI Summary
Siddhi Acquisition Corp reported a net income of $2,239,468 for the three months ended March 31, 2026, a significant improvement from a net loss of $43,850 in the prior year period. This positive result was primarily driven by $2,457,854 in interest earned on investments held in its Trust Account, which grew to $288,439,296. However, the company's management has identified a potential liquidity shortfall and mandatory liquidation if a Business Combination is not completed by January 2, 2027, raising substantial doubt about its ability to continue as a going concern.
Key Highlights
- Siddhi Acquisition Corp reported net income of $2,239,468 for the three months ended March 31, 2026, compared to a net loss of $43,850 in Q1 2025.
- Investments held in the Trust Account increased to $288,439,296 as of March 31, 2026, from $285,981,442 at December 31, 2025.
- Interest earned on investments in the Trust Account was $2,457,854 for the three months ended March 31, 2026.
- Total assets reached $289,035,029 as of March 31, 2026.
- Total liabilities were $16,735,750 as of March 31, 2026.
- Class A ordinary shares subject to possible redemption were $288,439,295 at $10.45 per share.
- The company faces a mandatory liquidation if a Business Combination is not completed by January 2, 2027.