QuasarEdge Acquisition Corp (QRED) Form 10-Q — Sep 21, 2026
QuasarEdge Acquisition Corporation, a Cayman Islands blank check company, filed its 10-Q for the quarter ended July 31, 2026 reporting quarterly net income of $581,631, driven by $1,037,661 of interest earned on its trust account against $456,030 of formation and operating costs, including $225,000 of legal fees tied to its pending merger. Management disclosed substantial doubt about the company's ability to continue as a going concern, stating it lacks the financial resources to sustain operations for a reasonable period of time. The SPAC must complete its initial business combination by July 16, 2027 or trigger an automatic winding up, dissolution and liquidation.
Key figures
- Eps
- 0.04
- Net Income
- 581631
- Total Assets
- 117247489
- Cash Position
- 242332
- Deal Value Usd
- 1000000000
- Shares Outstanding
- 16040000
- Merger deadline
- July 16, 2027
- Working capital
- 284403
- Finder success fee
- 1500000
- Ipo gross proceeds
- 115000000
- Finder share issuance
- 6000000
- Net income six months
- 660739
- Trust account balance
- 116764068
- Diluted eps three months
- 0.03
- Merger share consideration
- 100,000,000 Purchaser shares at $10.00 per share
- Private placement proceeds
- 2850000
- Sponsor subscription receivable
- 150000
AI analysis
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