Aimfinity Investment Corp. I Files 2023 Annual Report on Form 10-K

TL;DR

<b>Aimfinity Investment Corp. I has filed its 2023 annual report on Form 10-K, detailing its financial and operational status.</b>

AI Summary

Aimfinity Investment Corp. I (AIMTF) filed a Annual Report (10-K) with the SEC on April 12, 2024. Aimfinity Investment Corp. I filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is registered in the Cayman Islands with its principal executive offices in Wilmington, Delaware. Securities registered include Units (AIMAU), Class A ordinary shares (AIMA), and Class 1 & 2 redeemable warrants (AIMAW) on The Nasdaq Stock Market LLC. The company has submitted all required reports for the preceding 12 months and the past 90 days. Aimfinity Investment Corp. I has submitted all Interactive Data Files required by Rule 405 of Regulation S-T for the preceding 12 months.

Why It Matters

For investors and stakeholders tracking Aimfinity Investment Corp. I, this filing contains several important signals. This filing provides a comprehensive overview of the company's performance and compliance for the fiscal year 2023, crucial for investors to assess its current standing. The report confirms the company's adherence to SEC filing requirements, indicating a level of transparency and regulatory compliance.

Risk Assessment

Risk Level: low — Aimfinity Investment Corp. I shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate negative financial or operational disclosures, suggesting a neutral risk profile based solely on this document.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand Aimfinity Investment Corp. I's performance and future outlook.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240412 — Filing Date (Filed as of date)
• 001-41361 — SEC File Number (Commission File Number)
• AIMAU — Trading Symbol (Units)
• AIMA — Trading Symbol (Class A ordinary shares)
• AIMAW — Trading Symbol (Class 1 and Class 2 redeemable warrants)
• AIMBU — Trading Symbol (New Units)

Key Players & Entities

• Aimfinity Investment Corp. I (company) — Registrant name
• The Nasdaq Stock Market LLC (company) — Exchange where securities are registered
• Cayman Islands (jurisdiction) — State of incorporation
• Wilmington, Delaware (location) — Address of principal executive offices

FAQ

Industry Context

Aimfinity Investment Corp. I is a special purpose acquisition company (SPAC) or similar investment vehicle, typically focused on mergers or acquisitions.

Regulatory Implications

The filing adheres to Section 13 or 15(d) of the Securities Exchange Act of 1934 and Regulation S-T for electronic data submission.

What Investors Should Do

1. Thoroughly review the 'Risk Factors' section of the 10-K for potential business, financial, and operational risks.
2. Analyze the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into the company's performance drivers and outlook.
3. Examine the financial statements, including the balance sheet, income statement, and cash flow statement, for the fiscal year ended December 31, 2023.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-04-12: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending December 31, 2023, following the company's establishment and listing.

Key Financial Figures

• $0.0001 — nsisting of one Class A ordinary share, $0.0001 par value, one Class 1 redeemable warra
• $11.50 — ordinary share at an exercise price of $11.50 AIMAW The Nasdaq Stock Market LLC Clas
• $10.00 — hare. The Units were sold at a price of $10.00 per Unit, and the IPO generated gross p
• $80,500,000 — and the IPO generated gross proceeds of $80,500,000. Simultaneously with the closing of the
• $4,920,000 — rating gross proceeds to the Company of $4,920,000. Each Private Placement Unit consists o
• $82,110,000 — bination. On April 28, 2022, a total of $82,110,000 of the net proceeds from the IPO and th
• $100,000 — to pay its tax obligations (less up to $100,000 of interest to pay dissolution expenses
• $85,000 — Trust Account the amount lesser of (i) $85,000 for each one-month extension or (ii) $0
• $0.04 — 00 for each one-month extension or (ii) $0.04 for each AIMA Public Share for each one

Filing Documents

• ea0203505-10k_aimfin1.htm (10-K) — 760KB
• ea020350501ex3-2_aimfin1.htm (EX-3.2) — 477KB
• ea020350501ex4-7_aimfin1.htm (EX-4.7) — 145KB
• ea020350501ex10-12_aimfin1.htm (EX-10.12) — 31KB
• ea020350501ex10-13_aimfin1.htm (EX-10.13) — 30KB
• ea020350501ex31-1_aimfin1.htm (EX-31.1) — 11KB
• ea020350501ex31-2_aimfin1.htm (EX-31.2) — 11KB
• ea020350501ex32-1_aimfin1.htm (EX-32.1) — 4KB
• ea020350501ex32-2_aimfin1.htm (EX-32.2) — 4KB
• ea020350501ex97-1_aimfin1.htm (EX-97.1) — 25KB
• ex3-2_001.jpg (GRAPHIC) — 4KB
• 0001213900-24-032604.txt (&nbsp;) — 4771KB
• aimau-20231231.xsd (EX-101.SCH) — 45KB
• aimau-20231231_cal.xml (EX-101.CAL) — 19KB
• aimau-20231231_def.xml (EX-101.DEF) — 206KB
• aimau-20231231_lab.xml (EX-101.LAB) — 322KB
• aimau-20231231_pre.xml (EX-101.PRE) — 194KB
• ea0203505-10k_aimfin1_htm.xml (XML) — 325KB

Management's Discussion and Analysis of Financial

Management's Discussion and Analysis of Financial Condition and Results of Operations. 17 Item 7A.

Quantitative and Qualitative Disclosures About Market

Quantitative and Qualitative Disclosures About Market Risk. 25 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 25 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 25 Item 9A.

Controls and Procedures

Controls and Procedures. 26 Item 9B. Other Information. 27 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 27 Item 10. Directors, Executive Officers and Corporate Governance. 28 Item 11.

Executive Compensation

Executive Compensation. 31 Item 12.

Security Ownership of Certain Beneficial Owners and

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters. 32 Item 13. Certain Relationships and Related Transactions, and Director Independence. 34 Item 14. Principal Accountant Fees and Services. 36 Item 15. Exhibit and Financial Statement Schedules. 37 Item 16. Form 10-K Summary. 37 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report, including, without limitation, statements under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this report may include, for example, statements about: our ability to complete an initial business combination; our expectations around the performance of prospective target business or businesses; our success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination; our officers and directors allocating their time to other businesses and potentially having conflicts of interest with our business or in approving our initial business combination

Business

Item 1. Business. General We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this report as our initial business combination. We have neither engaged in any operations nor generated any revenue to date. Based on our business activities, we are a "shell company" as defined under the Securities Exchange Act of 1934 (the "Exchange Act") because we have no operations and nominal assets consisting almost entirely of cash. On April 28, 2022, we consummated our initial public offering (the "IPO") of 8,050,000 units, which included 1,050,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option (the "Units"), each Unit consisting of one Class A ordinary share of the Company ("Class A Ordinary Share"), par value $0.0001 per share (the "public shares"), one Class 1 redeemable warrant (the "Class 1 Warrant") and one-half of one Class 2 redeemable warrant (the "Class 2 Warrant") of the Company (each, a "Public Warrant"), each whole Public Warrant entitling the holder thereof to purchase one Class A ordinary share for $11.50 per share. The Units were sold at a price of $10.00 per Unit, and the IPO generated gross proceeds of $80,500,000. Simultaneously with the closing of the IPO, we consummated a private placement (the "Private Placement") with our sponsor, of an aggregate of 492,000 units (the "Private Placement Units") (including 42,000 Private Placement Units purchased pursuant to the full exercise by the underwriters of their over-allotment option) at a price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $4,920,000. Each Private Placement Unit consists of one Class A ordinary share (the "Private Placement Shares"), one Class 1 Warrant, and one-half of one Class 2 Warrant. The

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View this 10-K filing on SEC EDGAR