Rice Acquisition Corporation 3

KRSP: 10-Q · periodic report

Rice Acquisition Corporation 3, a pre-deal blank check company, filed its 10-Q for the quarter ended June 30, 2026, reporting net income of $2,833,068, consisting of $3,136,181 of interest earned on the $354,649,195 in its trust account, offset by $303,113 of general and administrative costs. The SPAC completed a $345,000,000 IPO on October 2, 2025 at $10.00 per unit, but has not selected a business combination target and states that no one on its behalf has engaged in any substantive discussions with any candidate. It must complete a deal within 24 months of the IPO closing (extendable to 27 months at the sponsor's option) or liquidate, in which case the warrants would expire worthless. Outside the trust, the company held $2,224,033 in cash with a working capital surplus of $2,250,987, and management believes it has sufficient funds to operate for the next year. A forward purchase agreement with Shalennial Acquisition Sponsor 3 LLC and Mercuria Energy Group Holding SA commits up to $100,000,000 of additional equity at deal close, though Mercuria may terminate its $70,000,000 portion at any time in its sole discretion.

SEC 10-Q•2mo ago

KRSP: 10-Q · periodic report

Rice Acquisition Corporation 3, a pre-deal SPAC, reported a net income of $2,754,571 for the three months ended March 31, 2026. This net income was primarily driven by interest earned on cash held in the Trust Account, amounting to $3,111,232, offset by general and administrative costs of $356,661. As of March 31, 2026, the company had $2,306,574 in cash held outside the Trust Account and $351,513,014 in cash held in the Trust Account. The total assets of the company were $354,173,090, a slight increase from $351,296,579 as of December 31, 2025. The company has not commenced any operations and has not generated any operating revenues. All activity for the period from June 6, 2025 (inception) through March 31, 2026 relates to the company’s formation, the Initial Public Offering, and identifying a target company for a Business Combination. The company’s liquidity needs have been satisfied through the proceeds from the Initial Public Offering and the sale of Private Placement Warrants. The company does not expect to need additional funds to meet the expenditures required for operating its business, but if the costs of identifying a target business, due diligence, and negotiating a Business Combination are higher than estimated, it may need to raise additional funds.

SEC 10-Q•5mo ago