Quarterly ResultMay 11, 2026, 04:20 PM
White Pearl Acquisition Q1 Net Income $547,961; Trust Account $115.6M
AI Summary
White Pearl Acquisition Corp. reported a net income of $547,961 for the three months ended March 31, 2026, with basic and diluted net income per share of $0.08 for Class A ordinary shares subject to redemption. The company successfully completed its IPO on February 3, 2026, raising $115,000,000, which was placed in a Trust Account, bringing total assets to $117,728,290. However, management noted substantial doubt about the company's ability to continue as a going concern if a business combination is not completed by August 3, 2027.
Key Highlights
- Net income for the three months ended March 31, 2026, was $547,961.
- Basic and diluted net income per share for Class A ordinary shares subject to redemption was $0.08.
- Investments held in Trust Account totaled $115,627,232 as of March 31, 2026.
- Total assets increased to $117,728,290 as of March 31, 2026, from $106,812 at December 31, 2025.
- Cash balance was $1,974,500 as of March 31, 2026.
- The IPO was consummated on February 3, 2026, generating $115,000,000 in gross proceeds.
- A private placement generated an additional $2,900,000.
- Management identified substantial doubt about the company's ability to continue as a going concern.