Quarterly ResultMay 14, 2026, 06:12 AM
SUMA Acquisition Corp Completes IPO, Reports Q1 Net Income $152K
AI Summary
SUMA Acquisition Corp successfully completed its Initial Public Offering (IPO) and a concurrent Private Placement on March 12, 2026, raising gross proceeds of $172.5 million and $4.46 million, respectively. The company placed $172.5 million into a Trust Account, which earned $319,182 in interest, for a future business combination to be completed by March 12, 2028. For the three months ended March 31, 2026, SUMA Acquisition Corp reported a net income of $152,021 and held $1.17 million in cash outside the trust.
Key Highlights
- Completed IPO of 17,250,000 units on March 12, 2026, raising $172,500,000.
- Concurrently completed Private Placement of 446,250 units, raising $4,462,500.
- Placed $172,500,000 into a Trust Account for a future business combination.
- Reported net income of $152,021 for the three months ended March 31, 2026.
- Earned $319,182 in interest from Trust Account investments.
- Held $1,167,663 in cash outside the Trust Account as of March 31, 2026.
- Total liabilities were $7,166,845, including $6,900,000 deferred underwriting fee.