Mon, Dec 9, 9:11 PM (35 days ago)
Bleichroeder Acquisition Corp. I (BACQU) reported its first quarterly financial results for the period ending September 30, 2024. The company, a blank check entity, had no operational revenue, incurring a net loss of $47,447 for the quarter and a cumulative loss of $77,427 since inception. As of September 30, 2024, total assets were $295,206, primarily consisting of deferred offering costs of $294,036, while liabilities totaled $347,633, including a promissory note of $257,811 to a related party. The company had a working capital deficit of $346,463. Following its IPO on November 4, 2024, which raised $250,000,000, the funds are held in a Trust Account, restricted for use until a business combination is completed. The company is focused on technology and TMT sectors for potential acquisitions but has yet to identify a target. The geopolitical climate and market volatility could impact future operations and the business combination timeline. Overall, while the company has secured significant funding, uncertainties remain regarding its ability to complete a successful acquisition within the designated timeframe.