AlphaVest Acquisition Corp. Files Q2 2024 10-Q
Ticker: AMCI · Form: 10-Q · Filed: Aug 19, 2024 · CIK: 1937891
Sentiment: neutral
Topics: spac, 10-q, financials
Related Tickers: ATMV
TL;DR
AlphaVest Acquisition Corp. (ATMV) filed its Q2 2024 10-Q. No major business combination announced yet.
AI Summary
AlphaVest Acquisition Corp. filed its 10-Q for the period ending June 30, 2024. The company, a blank check company, reported its financial status and operational details. Key financial data points and disclosures related to its common stock and rights were included in the filing.
Why It Matters
This filing provides investors with an update on AlphaVest Acquisition Corp.'s financial health and operational activities during the second quarter of 2024, crucial for understanding its progress towards a potential business combination.
Risk Assessment
Risk Level: medium — As a SPAC, AlphaVest Acquisition Corp. faces inherent risks related to its ability to identify and complete a business combination within its specified timeframe.
Key Numbers
- Q2 2024 — Reporting Period (The period covered by the 10-Q filing.)
- 2024-01-01 to 2024-06-30 — Fiscal Year to Date (Covers the first six months of the fiscal year.)
- 2023-01-01 to 2023-06-30 — Prior Year Fiscal Year to Date (For comparison with the current year's performance.)
Key Players & Entities
- AlphaVest Acquisition Corp. (company) — Filer of the 10-Q
- 0001493152-24-033092 (other) — Accession Number for the filing
- 20240630 (date) — End of the reporting period
- 20240819 (date) — Date the filing was made
- 420 Lexington Ave, Suite 2446 (other) — Business and mailing address
FAQ
What is the primary business of AlphaVest Acquisition Corp.?
AlphaVest Acquisition Corp. is a blank check company, also known as a Special Purpose Acquisition Company (SPAC), formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on August 19, 2024.
What are the main components of AlphaVest Acquisition Corp.'s securities mentioned in the filing?
The filing mentions units consisting of ordinary shares and rights, common stock, and rights, each entitling the holder to a fraction of an ordinary share.
Does the filing provide specific financial figures for the quarter?
While the filing indicates the reporting period and fiscal year to date, specific dollar amounts for revenue, expenses, or assets for Q2 2024 are not detailed in the provided header information. A full review of the document would be required for those figures.
Filing Stats: 4,677 words · 19 min read · ~16 pages · Grade level 17 · Accepted 2024-08-19 16:33:55
Key Financial Figures
- $0.0001 — ck Market LLC Common stock, par value $0.0001 per share ATMV The Nasdaq Stock Mar
Filing Documents
- form10-q.htm (10-Q) — 585KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 8KB
- ex32-2.htm (EX-32.2) — 8KB
- 0001493152-24-033092.txt ( ) — 3555KB
- atmv-20240630.xsd (EX-101.SCH) — 26KB
- atmv-20240630_cal.xml (EX-101.CAL) — 29KB
- atmv-20240630_def.xml (EX-101.DEF) — 157KB
- atmv-20240630_lab.xml (EX-101.LAB) — 214KB
- atmv-20240630_pre.xml (EX-101.PRE) — 185KB
- form10-q_htm.xml (XML) — 507KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 1 Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 1 Unaudited Statements of Operations 2 Unaudited Statements of Changes in Shareholders' Equity (Deficit) 3 Unaudited Statements of Cash Flows 4 Notes to Unaudited 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 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.
Controls and Procedures
Controls and Procedures 18
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 19 Item 1A.
Risk Factors
Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities 19 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20 i PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. ALPHAVEST ACQUISITION CORP BALANCE SHEETS June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets: Cash $ 13,793 $ 28,560 Prepaid expenses 55,948 34,573 Total Current Assets 69,741 63,133 Marketable securities held in trust account 51,996,909 50,880,604 Cash held in trust escrow account 165,000 - Total Assets $ 52,231,650 $ 50,943,737 LIABILITIES, REDEEMABLE ORDINARY SHARES, AND SHAREHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued offering costs and expenses $ 386,512 $ 213,118 Due to related party 9,837 9,837 Promissory notes – third party 236,000 - Promissory notes – related party 311,532 165,000 Promissory notes 311,532 165,000 Total Current Liabilities 943,881 387,955 Total Liabilities 943,881 387,955 Commitments and contingencies - - Ordinary shares subject to possible redemption ( 4,725,829 shares at $ 11.04 and $ 10.77 per share as of June 30, 2024 and December 31, 2023, respectively) 52,161,909 50,880,604 Shareholders' Deficit: Preferred shares, $ 0.0001 par value; 2,000,000 shares authorized; none issued and outstanding as of June 30, 2024 and December 31, 2023, respectively - - Ordinary shares, $ 0.0001 par value; 200,000,000 shares authorized; 2,280,500 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 228 228 Additional paid-in capital - - Accumulated deficit ( 874,368 ) ( 325,050 ) Total Shareholders' Deficit ( 874,140 ) ( 324,822 ) T otal Liabilities, Redeemable Ordinary Shares, and Shareholders' Deficit $ 52,231,650 $ 50,943,737 The accompanying notes are an