Quarterly ResultMay 15, 2026, 04:30 PM
Westin Acquisition Corp Q1 Net Loss $(930,843); Trust $58.36M
AI Summary
Westin Acquisition Corp reported a net loss of $(930,843) for the three months ended March 31, 2026, after accounting for the accretion of redeemable ordinary shares. The company successfully completed its Initial Public Offering and a private placement in November 2025, resulting in $58.36 million held in its Trust Account. The SPAC is actively seeking a business combination but faces a going concern risk if a transaction is not completed by May 5, 2027.
Key Highlights
- Net loss for the three months ended March 31, 2026, was $(930,843) after accretion.
- Cash and marketable securities in Trust Account reached $58,360,098 as of March 31, 2026.
- Total assets increased to $58,721,727 from $200,000 as of June 30, 2025.
- Total liabilities grew to $2,811,380 from $184,475 as of June 30, 2025.
- Promissory note from related party increased to $449,377 from $184,475.
- Deferred underwriting commission of $2,300,000 was recognized.
- Net cash used in operating activities was $(288,371) for the nine months.
- Company faces a May 5, 2027 deadline to complete a business combination.
Price Impact