10-K - Oak Woods Acquisition Corp (0001945422) (Filer)

Mon, May 5, 10:02 AM (14 days ago)

### Oak Woods Acquisition Corporation (OAKU) - Financial Summary **Ticker:** OAKU (Units), OAKU (Class A Ordinary Shares), OAKUR (Rights), OAKUW (Warrants) **Market Position:** - **Market Capitalization:** Approximately $58.995 million as of June 30, 2024. - **Shares Outstanding:** 6,037,979 as of April 29, 2025, including 4,600,479 Class A Ordinary Shares and 1,437,500 Class B Ordinary Shares. **Financial Performance (Fiscal Year 2024):** - **Revenue:** $0 (no operating revenue generated). - **Net Income:** $191,545, primarily from interest income on the Trust Account. - **Operating Expenses:** $2,746,762, including formation and operating costs. - **Earnings per Share (EPS):** $0.30 for redeemable Class A Ordinary Shares, $(0.81) for non-redeemable Class A and Class B Ordinary Shares. **Liquidity and Capital Resources:** - **Cash on Hand:** $4,637 outside the Trust Account as of December 31, 2024. - **Trust Account:** $48,084,367 as of December 31, 2024. - **Working Capital Deficit:** $4,388,114 as of December 31, 2024. **Strategic Overview:** - **Business Combination:** Targeting Huajin (China) Holdings Limited for a merger. - **Extension of Combination Period:** Extended to May 28, 2025, with potential further extensions. - **Share Redemptions:** 1,492,646 Class A Ordinary Shares redeemed at $11.20 per share on September 26, 2024, and 679,929 Class A Ordinary Shares redeemed at $11.56 per share on March 20, 2025. **Future Outlook:** - **Going Concern:** Substantial doubt about the ability to continue as a going concern due to the need to complete a business combination within the extended period. - **Risk Factors:** Dependence on completing a business combination, potential liquidation if no combination is achieved, and reliance on sponsor support. **Risk Factors:** - **Operational Risks:** Dependence on completing a business combination, potential liquidation if no combination is achieved. - **Financial Risks:** Reliance on sponsor support, potential dilution of shareholder value. - **Market Risks:** Volatility in the market price of ordinary shares, potential delisting from Nasdaq. **Financial Condition:** - **Debt:** $2,245,150 in promissory notes as of December 31, 2024. - **Equity:** Significant equity deficit due to accumulated losses. **Market Position Changes:** - **Share Price:** Volatile due to market conditions and the uncertainty of completing a business combination. - **Trading Volume:** Affected by market sentiment and news related to the business combination. **Note:** This summary is based on the provided financial data and may not reflect all aspects of the company's financial health and strategic direction. Investors should conduct thorough due diligence before making any investment decisions.