BurTech Acquisition Corp. Q1 2024 Update
Ticker: BZAIW · Form: 10-Q · Filed: Jun 6, 2024 · CIK: 1871638
Sentiment: neutral
Topics: 10-Q, financials, acquisition
TL;DR
BurTech Acquisition Corp. has $10.8M cash as of Q1 2024. Second Trust Amendment Jan 5, 2024.
AI Summary
BurTech Acquisition Corp. filed its 10-Q for the period ending March 31, 2024. The company reported $10.8 million in cash and cash equivalents as of March 31, 2024. The filing also details various share classes and amendments, including the Second Trust Amendment on January 5, 2024.
Why It Matters
This filing provides a snapshot of BurTech Acquisition Corp.'s financial position and corporate actions during the first quarter of 2024, which is crucial for investors tracking the company's progress.
Risk Assessment
Risk Level: low — This filing is a routine quarterly report with no immediate red flags or significant negative developments.
Key Numbers
- $10.8M — Cash and Cash Equivalents (As of March 31, 2024)
Key Players & Entities
- BurTech Acquisition Corp. (company) — Filer of the 10-Q
- 20240331 (date) — End of the reporting period
- $10.8 million (dollar_amount) — Cash and cash equivalents as of March 31, 2024
- 20240105 (date) — Date of the Second Trust Amendment
FAQ
What is the total number of shares of Class A common stock subject to redemption as of March 31, 2024?
The filing indicates that as of March 31, 2024, there were 10,817,000 shares of Class A common stock subject to redemption.
When was the Second Trust Amendment filed?
The Second Trust Amendment was filed on January 5, 2024.
What is the fiscal year end for BurTech Acquisition Corp.?
BurTech Acquisition Corp.'s fiscal year ends on December 31.
What is the SIC code for BurTech Acquisition Corp.?
The Standard Industrial Classification (SIC) code for BurTech Acquisition Corp. is 6770 (BLANK CHECKS).
What was the total number of shares of Class B common stock issued on September 24, 2021?
The filing indicates that on September 24, 2021, 2,415,000 shares of Class B common stock were issued.
Filing Stats: 4,618 words · 18 min read · ~15 pages · Grade level 17.8 · Accepted 2024-06-05 18:02:05
Key Financial Figures
- $11.50 — e one share of Class A common stock for $11.50 per share BRKHU The Nasdaq Stock Ma
- $0.0001 — t LLC Class A Common Stock, par value $0.0001 per share BRKH The Nasdaq Stock Mar
Filing Documents
- brkh-20240331x10q.htm (10-Q) — 959KB
- brkh-20240331xex31d1.htm (EX-31.1) — 9KB
- brkh-20240331xex31d2.htm (EX-31.2) — 9KB
- brkh-20240331xex32.htm (EX-32) — 10KB
- 0001410578-24-000994.txt ( ) — 5164KB
- brkh-20240331.xsd (EX-101.SCH) — 53KB
- brkh-20240331_cal.xml (EX-101.CAL) — 27KB
- brkh-20240331_def.xml (EX-101.DEF) — 219KB
- brkh-20240331_lab.xml (EX-101.LAB) — 366KB
- brkh-20240331_pre.xml (EX-101.PRE) — 302KB
- brkh-20240331x10q_htm.xml (XML) — 724KB
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS Condensed consolidated Balance Sheets as of March 31,2024 (Unaudited) and December 31, 2023 2 Condensed consolidated Statements of Operations for the three months ended March 31,2024 and 2023 (Unaudited) 3 Condensed consolidated Statements of Changes in Stockholders' Deficit for the three months ended March 31,2024 and 2023 (Unaudited) 4 Condensed consolidated Statements of Cash Flows for the three months ended March 31,2024 and 2023 (Unaudited) 5 Notes to Condensed consolidated Financial Statements (Unaudited) 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 26 Item 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 34 Item 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 35
– OTHER INFORMATION
PART II – OTHER INFORMATION 36 Item 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 36 Item 1A.
RISK FACTORS
RISK FACTORS 36 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 36 Item 3. DEFAULTS UPON SENIOR SECURITIES 36 Item 4. MINE SAFETY DISCLOSURES 36 Item 5. OTHER INFORMATION 36 Item 6. EXHIBITS 37
SIGNATURES
SIGNATURES 38 i Table of Contents PART 1 - FINANCIAL INFORMATION BURTECH ACQUISITION CORP. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) Assets: Current assets: Cash $ — $ — Restricted Cash 148,736 843,313 Due from sponsor 29,385 318,888 Trust Account - Restricted for Redeeming Shareholders — 24,539,002 Prepaid expenses and other Assets 102,250 — Total current assets 280,371 25,701,203 Investments held in Trust Account 47,868,795 46,893,175 Total Assets $ 48,149,166 $ 72,594,378 Liabilities and Stockholders' Deficit Current liabilities: Accrued expenses $ 2,218,166 $ 2,123,846 Franchise tax payable 92,059 35,800 Due to Trust Account 29,385 318,888 Redeemed stock payable to public stockholders — 24,539,002 Convertible promissory note - related party 1,500,000 810,345 Advances from sponsor 418,441 — Income tax payable 162,895 1,027,644 Excise Tax Payable 2,523,150 2,523,150 Total current liabilities 6,944,096 31,378,675 Deferred underwriting commissions 10,062,500 10,062,500 Total Liabilities 17,006,596 41,441,175 Commitments and Contingencies (Note 6) Class A common stock subject to possible redemption, 4,345,663 shares at redemption value of approximately $ 11.00 and $ 10.81 as of March 31, 2024 and December 31, 2023, respectively 47,791,962 46,991,932 Stockholders' Deficit: Preferred stock, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding — — Class A common stock, $ 0.0001 par value; 280,000,000 shares authorized; 10,817,000 shares issued and outstanding (excluding 4,345,663 shares subject to possible redemption) as of March 31, 2024 and 10,817,000 shares issued and outstanding (excluding 4,345,663 shares subject to possible redemption and 2,285,040 shares to be redeemed) as of December 31, 2023, respectively. 1,082 1,082 Class B common stock, $ 0.0001 par value;