Galata Acquisition Corp. II Class A Ordinary Shares

LATA: 10-Q · periodic report

Galata Acquisition Corp. II reported net income of $1,399,542 for the quarter ended June 30, 2026 and $2,772,699 for the six months, driven entirely by $1,556,518 of interest earned on its $177,405,965 trust account, partially offset by $156,976 of general and administrative expenses. Management disclosed substantial doubt about the company's ability to continue as a going concern, stating it currently lacks the liquidity needed to sustain operations for at least one year as it continues to incur significant costs pursuing an acquisition. Cash outside the trust fell to $656,117 from $954,585 at December 31, 2025. The SPAC has not entered into a definitive agreement with any business combination target and must complete a deal by September 22, 2027, or liquidate and redeem public shares at roughly $10.28 each; failure to satisfy the Nasdaq 36-month requirement would likely trigger trading suspension and delisting.

SEC 10-Q•2mo ago