Oyster Enterprises II Acquisition Corp

OYSE: 10-Q · periodic report

Oyster Enterprises II Acquisition Corp, a pre-deal SPAC, reported net income of $2,205,496 for the quarter ended June 30, 2026, up from $843,353 a year earlier, driven entirely by $2,348,191 of interest earned on its trust account rather than operations. The company has no revenues and remains focused on finding a business combination target among AI companies and businesses in the digital assets and blockchain ecosystem. The 10-Q carries a going-concern warning: with just $574,249 of cash outside its trust, an $8.2 million shareholders' deficit, and continued acquisition pursuit costs, management stated that a potential liquidity shortfall and mandatory liquidation condition raise substantial doubt about the company's ability to continue as a going concern. Any bridge financing would likely come from the Sponsor or insiders, who are not obligated to lend. The company has until May 23, 2027 to close a deal before it must redeem public shares and dissolve, and any extension would require shareholder approval with redemption rights that would shrink the trust. The trust account held $263,843,971 at quarter-end, valuing the 25,300,000 redeemable Class A shares at $10.43 each, and a July 15, 2026 finder's agreement obligates the company to pay up to $5,000,000 (minimum $750,000) if it completes a deal with an introduced target.

SEC 10-Q•2mo ago