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Charlton Aria Acquisition Corporation(CHARU) - 2024 Q3 - Quarterly Report
CHARUCharlton Aria Acquisition Corporation(CHARU)2024-12-03 22:04

IPO and Fundraising - The Company completed its IPO on October 25, 2024, raising gross proceeds of 75,000,000fromthesaleof7,500,000unitsat75,000,000 from the sale of 7,500,000 units at 10.00 per unit[101]. - A private placement generated an additional 2,400,000fromthesaleof240,000unitsatthesameprice,totaling2,400,000 from the sale of 240,000 units at the same price, totaling 77,400,000 in gross proceeds[101]. - On November 19, 2024, the underwriters exercised an over-allotment option, purchasing 1,000,000 additional units for gross proceeds of 10,000,000[105].−TheTrustAccountholdsatotalof10,000,000[105]. - The Trust Account holds a total of 75,187,500 from the IPO and private placement, intended for the benefit of public shareholders[114]. Financial Performance - As of September 30, 2024, the Company reported a net loss of 331,524sinceinception,withformationandoperatingcostsof331,524 since inception, with formation and operating costs of 146,179 and stock-based compensation of 185,345[112].−TheCompanyhad185,345[112]. - The Company had 576,299 in cash held outside the Trust Account after IPO costs, with a working capital deficit of 320,932[116].−TheCompanyincurred320,932[116]. - The Company incurred 3,060,711 in transaction costs related to the IPO, including 1,125,000inunderwritingfeesand1,125,000 in underwriting fees and 1,500,000 in deferred underwriting fees[114]. - The Company has no revenue to date and does not expect to generate operating revenues until after completing a Business Combination[109]. Use of Funds - The Company plans to use funds held outside the Trust Account primarily for identifying and evaluating target businesses[117]. - The Company has no off-balance sheet financing arrangements as of September 30, 2024[120].