Wed, Mar 26, 9:16 PM (32 days ago)
**Summary of Cohen Circle Acquisition Corp. I (CCIR) Annual Report (2024)** **Financial Performance:** - **Revenue:** $0 (no operating revenue generated). - **Net Income:** $2,105,923 for 2024, primarily from interest earned on marketable securities held in the trust account. - **Operating Expenses:** $113,324 for 2024, including formation, general, and operational costs. - **Earnings per Share:** Not applicable (no earnings from operations). **Strategic Overview:** - **Business Model:** Cohen Circle Acquisition Corp. I is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. - **Target Industries:** Focus on financial services technology (fintech) and adjacent sectors, but not limited to these industries. - **Management Team:** Led by Betsy Z. Cohen, with experience in financial services and fintech. **Future Outlook:** - **Initial Business Combination:** Seeking to complete a business combination within 24 months from the closing of the initial public offering (October 15, 2026). - **Trust Account:** $231,150,000 initially deposited, with interest earned on the funds held in the trust account. **Risk Factors:** - **Market Risks:** Competition from other SPACs and private equity groups, potential dilution from founder shares, and regulatory risks. - **Operational Risks:** Dependence on key personnel, potential conflicts of interest, and the risk of not completing a business combination. - **Financial Risks:** Dependence on the trust account for liquidity, potential claims against the trust account, and the risk of not generating operating revenues. **Financial Condition:** - **Cash Position:** $699,511 held outside the trust account as of December 31, 2024. - **Debt:** No long-term debt, but potential for future debt to fund operations or acquisitions. - **Equity:** 23,715,000 Class A ordinary shares and 7,905,000 Class B ordinary shares issued and outstanding. **Market Position Changes:** - **Stock Performance:** Not applicable (no trading history). - **Market Capitalization:** Not applicable (no trading history). **Other Notable Points:** - **Governance:** Board of directors appointed by the sponsor, with potential conflicts of interest. - **Regulatory Environment:** Subject to SEC regulations and Nasdaq listing requirements. - **Strategic Initiatives:** Focus on identifying and acquiring businesses in the fintech sector, with a potential for diversification into other industries.