Alchemy Investments Acquisition Corp 1 Files Q2 2024 10-Q

TL;DR

ALCY Q2 10-Q filed. Financials and share structure updated.

AI Summary

Alchemy Investments Acquisition Corp 1 filed its 10-Q for the period ending June 30, 2024. The company, formerly VAM Acquisition Corp., reported financial details related to its common stock and founder shares. The filing indicates a fiscal year end of December 31st.

Why It Matters

This filing provides a quarterly update on the financial status and share structure of Alchemy Investments Acquisition Corp 1, which is relevant for investors tracking the company's progress.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing for a SPAC with no immediate red flags.

Key Numbers

• 595500 — Shares (Number of common shares subject to redemption as of June 30, 2024)
• 12095500 — Shares (Number of common shares subject to redemption as of December 31, 2023)
• 2875000 — Shares (Number of founder shares as of June 30, 2024)

Key Players & Entities

• Alchemy Investments Acquisition Corp 1 (company) — Filer of the 10-Q
• VAM Acquisition Corp. (company) — Former name of the filer
• 20240630 (date) — Period of report for the 10-Q
• 20240815 (date) — Filing date of the 10-Q
• ALCY:CommonClassaSubjectToRedemptionMember (stock) — Class of common stock
• ALCY:FounderSharesMember (stock) — Class of founder shares

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-20240630x10q.htm (10-Q) — 964KB
• alcy-20240630xex31d1.htm (EX-31.1) — 13KB
• alcy-20240630xex31d2.htm (EX-31.2) — 13KB
• alcy-20240630xex32d1.htm (EX-32.1) — 6KB
• alcy-20240630xex32d2.htm (EX-32.2) — 5KB
• 0001410578-24-001480.txt ( ) — 5081KB
• alcy-20240630.xsd (EX-101.SCH) — 42KB
• alcy-20240630_cal.xml (EX-101.CAL) — 22KB
• alcy-20240630_def.xml (EX-101.DEF) — 189KB
• alcy-20240630_lab.xml (EX-101.LAB) — 316KB
• alcy-20240630_pre.xml (EX-101.PRE) — 259KB
• alcy-20240630x10q_htm.xml (XML) — 874KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Financial Statements Condensed Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 1 Condensed Statements of Operations for the three and six months ended June 30, 2024 and 2023 (Unaudited) 2 Condensed Statements of Changes in Shareholders' Deficit for the three and six months ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Statements of Cash Flows for the six months ended June 30, 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 June 30, 2024 December 31, 2023 (Unaudited) Assets: Current assets: Cash and cash equivalents $ 572,396 $ 309,742 Prepaid expenses - current 189,627 183,672 Total current assets 762,023 493,414 Investments held in Trust Account 123,830,000 120,664,565 Prepaid expenses - non-current — 57,726 Total Assets $ 124,592,023 $ 121,215,705 Liabilities, Redeemable Class A Ordinary Shares and Shareholders' Deficit: Current liabilities: Accounts payable $ 807,037 $ 717,463 Accrued expenses 11,592 42,418 Accrued expenses - related party 137,097 77,097 Promissory note - related party 530,000 — Total current liabilities 1,485,726 836,978 Deferred underwriting fee payable 5,175,000 5,175,000 Total Liabilities 6,660,726 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 $ 10.76 , and $ 10.48 as of June 30, 2024, and December 31, 2023, respectively 123,729,999 120,564,564 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) 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 ( 5,799,050 ) ( 5,361,185 ) Total Shareholders' Deficit ( 5,798,702 ) ( 5,360,837 ) Total Liabilities, Redeemable Ordinary Shares and Shareholders' Deficit $ 124,592,023 $ 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 Shares to

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View this 10-Q filing on SEC EDGAR