Mon, Jun 24, 10:02 AM (119 days ago)
Catcha Investment Corp's Q1 2024 financial report reveals a net loss of $2.43 million, driven by operating expenses, fair value changes in financial instruments, and interest income from the Trust Account. The company has been actively securing financing to support its operations and extend its business combination deadline. Key financing activities include issuing convertible promissory notes and entering into subscription agreements, raising funds through PIPE, and obtaining loans against pledged shares. The company has been granted multiple extensions for its business combination with Crown LNG Holding AS, now extended to June 28, 2024. Catcha has also entered into non-redemption agreements to secure shareholder commitment and raised additional funds through various financial instruments, including convertible notes and securities lending agreements. The company faces liquidity challenges and substantial doubt about its ability to continue as a going concern if it fails to complete the business combination by August 17, 2024.