Swiftmerge Acquisition Corp. Files Q2 2024 10-Q

TL;DR

Swiftmerge Acquisition Corp. filed its Q2 10-Q. Financials are in.

AI Summary

Swiftmerge Acquisition Corp. filed its 10-Q for the quarterly period ended June 30, 2024. The company, incorporated in the Cayman Islands, is involved in the Crude Petroleum & Natural Gas industry. Its principal executive offices are located in Toluca Lake, California.

Why It Matters

This filing provides an update on Swiftmerge Acquisition Corp.'s financial performance and operational status for the second quarter of 2024, which is crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.

Key Numbers

• 001-41164 — Commission File Number (Identifies the company's filing with the SEC)
• June 30, 2024 — Quarterly Period End Date (The end date for the financial reporting period covered by the 10-Q)

Key Players & Entities

• Swiftmerge Acquisition Corp. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• 001-41164 (other) — Commission File Number
• Cayman Islands (location) — State of Incorporation
• Toluca Lake, CA (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — LLC Class A ordinary shares, par value $0.0001 per share IVCP The Nasdaq Stock Market
• $11.50 — ary share, each at an exercise price of $11.50 per share IVCPW The Nasdaq Stock Market

Filing Documents

• ea0212433-10q_swiftmerge.htm (10-Q) — 554KB
• ea021243301ex31-1_swift.htm (EX-31.1) — 10KB
• ea021243301ex31-2_swift.htm (EX-31.2) — 10KB
• ea021243301ex32-1_swift.htm (EX-32.1) — 4KB
• ea021243301ex32-2_swift.htm (EX-32.2) — 4KB
• 0001213900-24-073913.txt ( ) — 4146KB
• ivcp-20240630.xsd (EX-101.SCH) — 44KB
• ivcp-20240630_cal.xml (EX-101.CAL) — 16KB
• ivcp-20240630_def.xml (EX-101.DEF) — 232KB
• ivcp-20240630_lab.xml (EX-101.LAB) — 359KB
• ivcp-20240630_pre.xml (EX-101.PRE) — 226KB
• ea0212433-10q_swiftmerge_htm.xml (XML) — 403KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION F-1 Item 1.

Financial Statements

Financial Statements. F-1 Condensed Balance Sheets F-1 Unaudited Condensed Statements of Operations F-2 Unaudited Condensed Statements of Changes in Shareholders' Deficit F-3 Unaudited Condensed Statements of Cash Flows F-5 Notes to Unaudited Condensed Financial Statements F-6 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 1 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 6 Item 4 Disclosure Controls and Procedures 6

OTHER INFORMATION

PART II. OTHER INFORMATION 8 Item 1. Legal Proceedings. 8 Item 1A. Risk Factors. 8 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 8 Item 3. Defaults Upon Senior Securities. 8 Item 4. Mine Safety Disclosures. 8 Item 5. Other Information. 8 Item 6. Exhibits. 8

Signatures

Signatures 10 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Report"), including, without limitation, statements under the heading "Item 2. 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, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology, but the absence of these words does not mean that a statement is not forward-looking. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to (i) our ability to consummate the business combination with AleAnna (as defined below) and the related transactions under the Merger Agreement (as defined below) or any acquisition or other business combination, (ii) our expectations regarding our future liquidity and access to additional sources of capital, (iii) expectations regarding the Trust Account balance and dissolution expenses, (iv) the use of net proceeds and funds held outside the Trust Account, (v) goals, plans and strategies and their anticipated benefits, (vi) our beliefs regarding credit risk, and (vii) any other statements that are not statements of current or historical facts. These statements are based on management's current expectations, but they involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially diff

Financial Statements

Item 1. Financial Statements SWIFTMERGE ACQUISITION CORP. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 (Unaudited) December 31, 2023 ASSETS Current assets: Cash $ 2,633 $ 148,349 Prepaid expenses 42,525 — Total current assets 45,158 148,349 Investments held in Trust Account 13,534,219 24,376,178 TOTAL ASSETS $ 13,579,377 $ 24,524,527 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 2,364,888 $ 2,015,734 Accrued offering costs 311,430 311,430 Due to Sponsor 2,284 2,284 Accrued expenses 346,407 185,310 Accrued expenses - related party 61,516 55,516 Promissory note - related party 711,000 600,000 Due to related party 200,000 — Total current liabilities and total liabilities 3,997,525 3,170,274 Commitments and Contingencies (Note 6) Class A ordinary shares subject to possible redemption, $ 0.0001 par value; 1,214,913 and 2,246,910 shares issued and outstanding at redemption value of $ 11.06 and $ 10.80 per share as of June 30, 2024 and December 31 2023, respectively 13,434,219 24,276,178 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; 200,000,000 shares authorized; 3,375,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively (excluding 1,214,913 and 2,246,910 shares subject to possible redemption as of June 30, 2024 and December 31 2023, respectively) 337 337 Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 2,250,000 issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 225 225 Accumulated deficit ( 3,852,929 ) ( 2,922,487 ) Total Shareholders' Deficit ( 3,852,367 ) ( 2,921,925 ) TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 13,579,377 $ 24,524,527 The accompanying notes are an integral part of these unaudited condensed financial

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View this 10-Q filing on SEC EDGAR