Gores Holdings X, Inc.

GTEN: 10-Q · periodic report

Gores Holdings X, Inc. reported a net income of $6.4 million for the six months ended June 30, 2026, primarily driven by a $1.5 million non-cash gain from the change in fair value of public warrant liabilities and interest income of $6.4 million on the trust account. The company remains a pre-deal SPAC with no revenue and $374.1 million held in the trust account, searching for a business combination target prior to the May 5, 2027 deadline. The company recorded a net loss of $1.8 million for the same period in 2025. As of June 30, 2026, the company had a working capital deficit of $3.2 million and $194,541 in unrestricted cash available outside the trust account for operational expenses related to its search efforts. Management disclosed a going concern uncertainty, citing the requirement to consummate an initial business combination by May 5, 2027, or face liquidation. The firm owes $10.8 million in deferred underwriting fees and advisory fees, payable only upon the successful completion of a business combination.

SEC 10-Q•3mo ago