Cactus Acquisition Corp. 1 Ltd. Files Q3 2024 10-Q

TL;DR

Cactus Acquisition Corp. 1 Ltd. 10-Q filed Nov 15, 2024 for Q3 ending Sep 30, 2024. Subsequent events noted.

AI Summary

Cactus Acquisition Corp. 1 Ltd. filed its Q3 2024 10-Q report on November 15, 2024, covering the period ending September 30, 2024. The company, incorporated in Delaware with a fiscal year end of December 31, operates in the Real Estate & Construction sector. Key events include subsequent events related to common stock and founders' shares on October 29 and November 1, 2024.

Why It Matters

This filing provides investors with an update on Cactus Acquisition Corp. 1 Ltd.'s financial performance and significant events during the third quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments indicated.

Key Numbers

• Q3 2024 — Quarterly Period (The report covers the third quarter of 2024.)
• 20240930 — Reporting Period End Date (The financial data presented is as of this date.)
• 20241115 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Cactus Acquisition Corp. 1 Ltd. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241115 (date) — Filing date of the report
• 6770 (dollar_amount) — Standard Industrial Classification code for Blank Checks

FAQ

Key Financial Figures

• $0.0001 — red Class A ordinary shares, par value $0.0001 per share CCTSF Over The Counter (O
• $11.50 — ordinary share at an exercise price of $11.50 CTSWF Over The Counter (OTC) Market

Filing Documents

• ccts20240930_10q.htm (10-Q) — 684KB
• ex_747778.htm (EX-31.1) — 9KB
• ex_747779.htm (EX-31.2) — 9KB
• ex_747780.htm (EX-32.1) — 5KB
• ex_747781.htm (EX-32.2) — 5KB
• 0001437749-24-035486.txt ( ) — 3360KB
• ccts-20240930.xsd (EX-101.SCH) — 32KB
• ccts-20240930_def.xml (EX-101.DEF) — 250KB
• ccts-20240930_lab.xml (EX-101.LAB) — 183KB
• ccts-20240930_pre.xml (EX-101.PRE) — 260KB
• ccts-20240930_cal.xml (EX-101.CAL) — 17KB
• ccts20240930_10q_htm.xml (XML) — 374KB

Financial Statements

Item 1. Financial Statements. 1 Unaudited Condensed Balance Sheets F-2 Unaudited Condensed Statement of Operations F-3 Unaudited Condensed Statements of Changes in Capital Deficiency F-4 Unaudited Condensed Statement of Cash Flows F-5 Notes to Condensed Financial Statements (unaudited) F-6

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 1

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 7

Controls and Procedures

Item 4. Controls and Procedures. 7 PART II 8

Legal Proceedings

Item 1. Legal Proceedings. 8

Risk Factors

Item 1A. Risk Factors. 8

Unregistered Sales of Equity Securities and Use of Proceeds/

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds/ 8

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 9

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 9

Other Information

Item 5. Other Information. 9

Exhibits

Item 6. Exhibits. 9

SIGNATURES

SIGNATURES 10 i Table of Contents CERTAIN TERMS Unless otherwise stated in this Quarterly Report on Form 10-Q (this "Quarterly Report" or "Form 10-Q"), references to: " administrative support services agreement " are to the administrative support services agreement between us and the original sponsor dated as of May 21, 2021; " administrative services agreement termination " are to the administrative services agreement termination agreement between us and the original sponsor dated as of May 21, 2021; " amended and restated memorandum and articles of association " are to our amended and restated memorandum and articles of association, which went into effect upon the completion of our IPO and were amended on May 30, 2023; " articles amendment meeting " are to the extraordinary general meeting held on May 30, 2023 at which we sought approval to amend our amended and restated memorandum and articles of association to provide that the existing restriction that prevents the issuance of additional shares that would vote together with the publicly held Class A ordinary shares on a proposal to approve our initial business combination will not apply to the issuance of Class A ordinary shares upon conversion of Class B ordinary shares where the holders of the converted shares waive their rights to proceeds from our trust account; " ARWM " are to ARWM Pte Limited, our third sponsor; " Board " our board of directors from time to time; " initial business combination " are to a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses; " Class A ordinary shares " are to our Class A ordinary shares, par value $0.0001 per share; " Class B ordinary shares " are to our Class B ordinary shares, par value $0.0001 per share; " combination period " are to the 30-month period from the closing of the IPO to November 2, 2024 (or such earlier date as determined by the Board) reflecting the first ex

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CACTUS ACQUISITION CORP. 1 LIMITED UNAUDITED CONDENSED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2024, AND FOR THE NINE AND THREE MONTHS ENDED ON THAT DATE Table of Contents CACTUS ACQUISITION CORP. 1 LIMITED UNAUDITED CONDENSED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2024, AND FOR THE NINE MONTHSENDED ON THAT DATE INDEX Page Condensed Balance Sheets F-2 Condensed Statement of Operations F-3 Condensed Statement of Changes in Capital Deficiency F-4 Condensed Statement of Cash Flows F-5 Notes to the Condensed Financial Statements F-6 - F-18 Table of Contents CACTUS ACQUISITION CORP. 1 LIMITED UNAUDITED CONDENSED BALANCE SHEETS September 30, December 31, Note 2024 2023 U.S. Dollars in thousands A s s e t s CURRENT ASSETS: Cash and cash equivalents 13 78 Prepaid expenses 30 - TOTAL CURRENT ASSETS 43 78 NON-CURRENT ASSETS: Cash held in trust account 22,174 21,161 TOTAL ASSETS 22,217 21,239 Liabilities, shares subject to possible redemption and capital deficiency CURRENT LIABILITIES: Accrued expenses and other liabilities 325 538 Sponsor loan 397 570 Promissory Notes 564 - Related Party 12 12 TOTAL CURRENT LIABILITIES 1,298 1,120 LONG TERM LIABILITIES - Underwriter's deferred compensation 7 - 4,428 TOTAL LIABILITIES 1,298 5,548 COMMITMENTS AND CONTINGENCIES CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION: 1,912,371 shares at September 30, 2024, at a redemption value of $ 11.59 per share and at December 31, 2023, at a redemption value of $ 11.07 per share 22,174 21,161 CAPITAL DEFICIENCY: 4 Class A ordinary shares, $ 0.0001 par value; 500,000,000 shares authorized, 3,162,499 shares issued and outstanding at September 30, 2024 and December 31, 2023 - - Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized, 1 share and 3,162,500 shares issued and outstanding at September 30,

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View this 10-Q filing on SEC EDGAR