Quarterly ResultMay 14, 2026, 05:17 PM
SORN Reports Q1 Net Income $1.68M; Trust Account $254.99M
AI Summary
Soren Acquisition Corp., a blank check company, reported a net income of $1,684,199 for the three months ended March 31, 2026. This income was primarily generated from interest earned on the $254,987,373 held in its Trust Account following its Initial Public Offering on January 8, 2026. The company successfully completed its IPO, raising $253,000,000, and simultaneously sold $5,000,000 in Private Placement Warrants, and is currently focused on identifying a target for a business combination.
Key Highlights
- Net income for the three months ended March 31, 2026, was $1,684,199.
- Cash and marketable securities held in Trust Account totaled $254,987,373 as of March 31, 2026.
- Gross proceeds from the Initial Public Offering were $253,000,000.
- Proceeds from the sale of Private Placement Warrants amounted to $5,000,000.
- Total Assets as of March 31, 2026, were $257,251,355.
- Total Shareholders' Equity (Deficit) increased to $1,966,813 from $(58,209) at December 31, 2025.
- Interest earned on cash and marketable securities in the Trust Account was $1,987,373.
- Basic and diluted net income per share was $0.05.