Alchemy Investments Acquisition Corp 1 Files Q1 2024 10-Q

TL;DR

ALCY filed its Q1 10-Q. Financials look standard for a SPAC. No major red flags yet.

AI Summary

Alchemy Investments Acquisition Corp 1 filed its 10-Q for the period ending March 31, 2024. The company, formerly VAM Acquisition Corp., reported financial details including retained earnings and additional paid-in capital. Its business address is in Newark, Delaware, and its fiscal year ends on December 31.

Why It Matters

This filing provides a quarterly update on the financial health and operational status of Alchemy Investments Acquisition Corp 1, which is crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report for a SPAC with no immediate significant financial events or disclosures indicating elevated risk.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)
• 001-41699 — SEC File Number (Unique identifier for the company's filings with the SEC.)

Key Players & Entities

• Alchemy Investments Acquisition Corp 1 (company) — Filer of the 10-Q
• VAM Acquisition Corp. (company) — Former name of the filer
• 20240331 (date) — End of the reporting period
• 20240521 (date) — Filing date
• Newark, DE (location) — Business and mailing address

FAQ

Key Financial Figures

• $0.0001 — nsisting of one Class A Ordinary Share, $0.0001 par value, and one-half of one redeemab
• $11.50 — Ordinary Share at an exercise price of $11.50 ALCYW The Nasdaq Stock Market LLC

Filing Documents

• alcy-20240331x10q.htm (10-Q) — 749KB
• alcy-20240331xex31d1.htm (EX-31.1) — 13KB
• alcy-20240331xex31d2.htm (EX-31.2) — 13KB
• alcy-20240331xex32d1.htm (EX-32.1) — 6KB
• alcy-20240331xex32d2.htm (EX-32.2) — 6KB
• 0001410578-24-000936.txt ( ) — 4319KB
• alcy-20240331.xsd (EX-101.SCH) — 41KB
• alcy-20240331_cal.xml (EX-101.CAL) — 17KB
• alcy-20240331_def.xml (EX-101.DEF) — 189KB
• alcy-20240331_lab.xml (EX-101.LAB) — 304KB
• alcy-20240331_pre.xml (EX-101.PRE) — 253KB
• alcy-20240331x10q_htm.xml (XML) — 637KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1 Item 1. Condensed Financial Statements 1 Condensed Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Condensed Statements of Operations for the three months ended March 31, 2024 and 2023 (Unaudited) 2 Condensed Statements of Changes in Shareholders' Equity (Deficit) for the three months ended March 31, 2024 and 2023 (Unaudited) 3 Condensed Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (Unaudited) 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22

- OTHER INFORMATION

PART II - OTHER INFORMATION 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

SIGNATURES

SIGNATURES 25 Table of Contents

– Financial Information

Part I – Financial Information

Financial Statements

Item 1. Financial Statements ALCHEMY INVESTMENTS ACQUISITION CORP 1 CONDENSED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) Assets: Current assets: Cash and cash equivalents $ 129,211 $ 309,742 Prepaid expenses - current 240,099 183,672 Total current assets 369,310 493,414 Investments held in Trust Account 122,238,546 120,664,565 Prepaid expenses - non-current 15,702 57,726 Total Assets $ 122,623,558 $ 121,215,705 Liabilities, Redeemable Class A Ordinary Shares and Shareholders' Deficit: Current liabilities: Accounts payable $ 662,839 $ 717,463 Accrued expenses 61,066 42,418 Accrued expenses - related party 107,097 77,097 Total current liabilities 831,002 836,978 Deferred underwriting fee payable 5,175,000 5,175,000 Total Liabilities 6,006,002 6,011,978 Commitments and Contingencies (Note 6) Class A ordinary shares subject to possible redemption, $ 0.0001 par value, 11,500,000 at redemption value of $ 10.62 and $ 10.48 as of March 31, 2024, and December 31, 2023, respectively 122,138,545 120,564,564 Shareholders' Deficit: Preference shares, $ 0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding — — Class A ordinary shares, $ 0.0001 par value; 479,000,000 shares authorized; 595,500 shares issued and outstanding (excluding 11,500,000 shares subject to possible redemption) as of both March 31, 2024 and December 31, 2023 60 60 Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 2,875,000 issued and outstanding (1) 288 288 Accumulated deficit ( 5,521,337 ) ( 5,361,185 ) Total Shareholders' Deficit ( 5,520,989 ) ( 5,360,837 ) Total Liabilities, Redeemable Ordinary Shares and Shareholders' Deficit $ 122,623,558 $ 121,215,705 (1) On December 6, 2021, the Company issued 4,312,500 Founder Shares to the Sponsor for $ 50,000 . In connection with the issuance of new 4,312,500 Founder Sha

View Full Filing

View this 10-Q filing on SEC EDGAR