EPS: As of FY2025 Q2, the actual value is USD -0.15.

Segment Revenue

• The company has not commenced any operations and does not expect to generate operating revenues until after the completion of an initial Business Combination.

Operational Metrics

• Net Loss: For the three months ended June 30, 2025, the company reported a net loss of $385,122, compared to a net income of $448,912 for the same period in 2024.
• Formation and Operating Costs: For the three months ended June 30, 2025, formation and operating costs were $374,857, compared to $168,186 for the same period in 2024.
• Interest Expense: For the three months ended June 30, 2025, interest expense was $28,345, compared to $23,059 for the same period in 2024.

Cash Flow

• Net Cash Used in Operating Activities: For the six months ended June 30, 2025, net cash used in operating activities was $183,512.
• Net Cash Provided by Investing Activities: For the six months ended June 30, 2025, net cash provided by investing activities was $8,617,553, primarily due to cash withdrawn from the trust account in connection with redemption.
• Net Cash Used in Financing Activities: For the six months ended June 30, 2025, net cash used in financing activities was $8,450,783, primarily due to cash paid for redemption of ordinary shares.

Unique Metrics

• Trust Account: As of June 30, 2025, the company had $548,318 held in the Trust Account, which is intended to be used to complete the Business Combination.

Future Outlook and Strategy

• Core Business Focus: The company is focused on completing its initial business combination, with a proposed merger agreement with Semnur Pharmaceuticals, Inc. The total consideration to be paid at closing will be $2,500,000,000, payable in New Semnur Common Shares.
• Non-Core Business: The company has entered into various agreements, including a Sponsor Interest Purchase Agreement and a Stockholder Agreement, to facilitate the business combination with Semnur Pharmaceuticals, Inc.
• Priority: The company has extended its combination period through December 11, 2025, and is actively working towards completing the business combination with Semnur Pharmaceuticals, Inc.