Ribbon Acquisition Corp - Unit | 10-Q: FY2025 Q1 EPS: USD 0.12

EPS: As of FY2025 Q1, the actual value is USD 0.12.

Ribbon Acquisition Corporation has not generated any operating revenues as of March 31, 2025, since it is a blank check company focused on identifying a target for a business combination.

For the three months ended March 31, 2025, the company reported a net income of $235,856, which consisted of operating expenses of $185,401 and income earned on marketable securities held in the Trust Account of $421,257.

Net cash used in operating activities was - $174,894 for the three months ended March 31, 2025.
Net cash used in investing activities was - $50,000,000, primarily due to the purchase of marketable securities held in the Trust Account.
Net cash provided by financing activities was $50,710,916, which included proceeds from the sale of public units through public offerings and private placements.

The company completed its IPO on January 16, 2025, raising gross proceeds of $50,000,000 from the sale of 5,000,000 units at $10.00 per unit.
Simultaneously, a private placement of 220,000 units was completed, generating total proceeds of $2,200,000.

Core Business Focus: Ribbon Acquisition Corporation intends to use the proceeds from its IPO and private placement to effectuate its initial business combination, using cash, stock, debt, or a combination thereof. The company expects to incur significant costs in pursuit of its acquisition plans and aims to complete a business combination by January 16, 2026.
Non-Core Business: The company has not selected any specific business combination target and has not initiated any substantive discussions with potential targets.