Quarterly ResultMay 14, 2026, 04:21 PM
United Acquisition Corp. I Reports Q1 Net Income $359,973
AI Summary
United Acquisition Corp. I (UAC) reported a net income of $359,973 for the three months ended March 31, 2026, with basic and diluted earnings per share of $0.03 for both Class A and Class B ordinary shares. The company successfully completed its Initial Public Offering (IPO) and related private placements, resulting in $102,398,022 being held in the Trust Account. The period's activities primarily focused on the company's formation and the IPO, as it has not yet commenced business operations.
Key Highlights
- Net income for the three months ended March 31, 2026, was $359,973.
- Basic and diluted net income per Class A and Class B ordinary share was $0.03.
- Total assets increased to $104,759,446 as of March 31, 2026, from $360,668 at December 31, 2025.
- Marketable securities held in the Trust Account totaled $102,398,022 as of March 31, 2026.
- Interest earned on marketable securities in the Trust Account was $575,022.
- Cash balance at the end of the period was $2,150,377.
- 439,233 founder shares were forfeited due to the expiration of the over-allotment option.
- Net cash provided by financing activities was $104,341,340.