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

Segment Revenue

• 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. For the six months ended June 30, 2025, these costs were $621,457, compared to $536,438 for the same period in 2024.

Operational Metrics

• Net Income/Loss: For the three months ended June 30, 2025, the net loss was - $385,122, compared to a net income of $448,912 for the same period in 2024. For the six months ended June 30, 2025, the net loss was - $579,725, compared to a net income of $713,242 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. For the six months ended June 30, 2025, interest expense was $55,319, compared to $44,362 for the same period in 2024.

Cash Flow

• Operating Cash Flow: For the six months ended June 30, 2025, net cash used in operating activities was - $183,512, compared to - $488,664 for the same period in 2024.
• Investing Cash Flow: For the six months ended June 30, 2025, net cash provided by investing activities was $8,617,553, primarily due to cash withdrawn from the trust account in connection with the redemption of ordinary shares.
• Financing Cash Flow: For the six months ended June 30, 2025, net cash used in financing activities was - $8,450,783, primarily due to cash paid for the redemption of ordinary shares amounting to $8,617,553, offset by the proceeds from the issuance of a promissory note to a related party of $166,770.

Future Outlook and Strategy

• Core Business Focus: The company is focused on completing its initial business combination with Semnur Pharmaceuticals, Inc. The merger agreement includes a total consideration of $2,500,000,000 payable in New Semnur Common Shares, with the merger expected to close by September 30, 2025, subject to further extension if necessary.
• Non-Core Business: The company has entered into various agreements to support the merger, including a Sponsor Support Agreement and a Stockholder Support Agreement, to ensure the successful completion of the business combination with Semnur Pharmaceuticals, Inc.