Quarterly ResultMay 12, 2026, 04:23 PM
Space Asset Acquisition Corp. Q1 Net Income $1.0M; IPO Completed
AI Summary
Space Asset Acquisition Corp. reported a net income of $1.0 million for the three months ended March 31, 2026, following the successful completion of its Initial Public Offering on January 29, 2026. The IPO raised $230.0 million, which, along with private placement proceeds, was deposited into a Trust Account, generating significant interest income. The company's total assets grew substantially to $233.0 million, and it now has until January 29, 2028, to finalize a business combination.
Key Highlights
- Initial Public Offering completed on January 29, 2026, raising $230.0 million from 23.0 million units.
- An aggregate of $230.0 million was placed in the Trust Account, generating $1.33 million in net earnings.
- Net income for the three months ended March 31, 2026, was $1,004,284.
- Basic and diluted net income per share for the period was $0.04.
- Total assets increased to $233.0 million as of March 31, 2026, from $410,731 at December 31, 2025.
- The company has until January 29, 2028, to complete a business combination.
- Underwriters exercised their over-allotment option in full, releasing 1.0 million Founder Shares from forfeiture.