- As of June 30, 2026, Proem Acquisition Corp I had not selected any Business Combination target and had not engaged in any substantive discussions with any target. The 24-month Completion Window runs from the February 13, 2026 IPO closing (through approximately February 13, 2028); no extension or amendment has been sought.
- Trust Account held $131,709,599 at quarter-end, having earned $1,162,836 in interest during Q2 (six-month total: $1,709,599). Cash outside the trust was $636,353 and working capital was $855,110. No Working Capital Loans were outstanding.
- Q2 general and administrative expenses were $174,913, yielding net income of $987,923 for the quarter. Management identified substantial doubt about the company's ability to continue as a going concern, citing the finite Completion Window and projected future liquidity and dissolution if no Business Combination is completed.
- Non-redeemable ordinary shares stood at 4,723,333 (comprising 4,333,333 founder shares, 292,500 private placement shares, and 97,500 Representative Shares); 13,000,000 redeemable ordinary shares carried a redemption value of $10.13 per share. The 650,000 founder share forfeiture triggered by the unexercised over-allotment option was completed in Q1 (March 30, 2026) and is reflected in the quarter-end share count.
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- On February 13, 2026, Proem Acquisition Corp I completed its Initial Public Offering of 13,000,000 Units at $10.00 per Unit, generating $130,000,000 in gross proceeds, and simultaneously sold 292,500 Private Units to its Sponsor (Proem SPAC Partners I LLC) for $2,925,000; $130,000,000 was deposited into the Trust Account and total transaction costs were $6,036,515 (including $4,550,000 in deferred underwriting fees).
- On March 30, 2026, the underwriters' 45-day over-allotment option for up to 1,950,000 additional units expired unexercised, resulting in the forfeiture of 650,000 founder shares; 4,723,333 ordinary shares (excluding 13,000,000 public shares subject to redemption) were outstanding at quarter-end.
- As of March 31, 2026, the company had not selected any Business Combination target, had not engaged in substantive discussions with any target, and had not commenced operations; its 24-month Completion Window to consummate an initial Business Combination runs from the February 13, 2026 IPO closing date.
- Management raised substantial doubt about the company's ability to continue as a going concern, citing projected future liquidity and the prospect of subsequent dissolution if no Business Combination is completed within the Completion Window; no adjustments were made to carrying amounts for potential liquidation.
- The Trust Account held $130,546,763 as of March 31, 2026 (including $546,763 in interest earned during the quarter, invested in money market funds holding U.S. Treasury securities); operating cash outside the trust was $744,218 with working capital of $962,523, and no Working Capital Loans were outstanding.
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