Wed, May 15, 10:15 AM (182 days ago)
Corner Growth Acquisition Corp. reported a net loss of $2.51 million for Q1 2024, mainly due to changes in the fair value of warrant liabilities and operating costs. Current assets stood at $100,567, while total liabilities were $15.25 million, resulting in a significant shareholders' deficit of $15.15 million. The company has $3.70 million in cash and marketable securities held in a trust account. Redemption of Class A shares reduced available cash by $911,508. The company faces significant liquidity challenges and substantial doubt about its ability to continue as a going concern, with a mandatory liquidation date set for June 30, 2024, if a business combination is not completed.