InFinT Acquisition Corp Files Q1 2024 10-Q

TL;DR

InFinT Acquisition Corp's Q1 2024 10-Q is out, showing share and warrant details. Check financials for investment moves.

AI Summary

InFinT Acquisition Corp filed its 10-Q for the period ending March 31, 2024. The filing details the company's financial status and operations, including information on its Class A and Class B ordinary shares and redeemable warrants. Specific financial figures for the first quarter of 2024 and the comparative period in 2023 are presented.

Why It Matters

This filing provides investors with a quarterly update on InFinT Acquisition Corp's financial health and operational performance, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a SPAC, InFinT Acquisition Corp's risk is tied to its ability to complete a business combination within its timeframe.

Key Numbers

• Q1 2024 — Reporting Period (First quarter financial results)
• Q1 2023 — Comparative Period (For year-over-year comparison)

Key Players & Entities

• InFinT Acquisition Corp (company) — Filer of the 10-Q
• 0001493152-24-020805 (document_id) — Accession Number for the filing
• 20240331 (date) — End of the reporting period
• 20240521 (date) — Filing date
• IFIN (ticker) — Ticker symbol for InFinT Acquisition Corp

FAQ

Key Financial Figures

• $0.0001 — ge Class A ordinary shares, par value $0.0001 per share IFIN The New York Stock E

Filing Documents

• form10-q.htm (10-Q) — 618KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 5KB
• 0001493152-24-020805.txt ( ) — 3481KB
• ifin-20240331.xsd (EX-101.SCH) — 26KB
• ifin-20240331_cal.xml (EX-101.CAL) — 26KB
• ifin-20240331_def.xml (EX-101.DEF) — 177KB
• ifin-20240331_lab.xml (EX-101.LAB) — 204KB
• ifin-20240331_pre.xml (EX-101.PRE) — 195KB
• form10-q_htm.xml (XML) — 440KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements 3 Condensed Balance Sheets 3 Condensed Statements of Operations (Unaudited) 4 Condensed Statements of Changes in Shareholders' Deficit (Unaudited) 5 Condensed Statements of Cash Flows (Unaudited) 6 Notes to Condensed Financial Statements (Unaudited) 7 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 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION 25 Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 26 2 PART I. FINANCIAL INFORMATION Item 1. Financial Statements. INFINT ACQUISITION CORPORATION CONDENSED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets Cash $ 9,458 $ 43,509 Total Current Assets 9,458 43,509 Cash and marketable securities held in Trust Account 54,506,397 83,523,112 TOTAL ASSETS $ 54,515,855 $ 83,566,621 LIABILITIES AND SHAREHOLDERS' DEFICIT Current Liabilities Accrued expenses $ 4,025,389 $ 3,978,149 Accrued expenses – related party 292,407 256,407 Accrued expenses 4,025,389 3,978,149 Working capital loan- related party 325,000 325,000 Promissory note- Seamless Note 241,706 - Total current liabilities 4,884,502 4,559,556 Deferred underwriter fee payable 5,999,964 5,999,964 TOTAL LIABILITIES 10,884,466 10,559,520 Commitments and Contingencies (Note 6) - - Class A ordinary shares subject to possible redemption; 4,747,021 and 7,408,425 shares at redemption value, respectively 54,506,397 83,523,112 Shareholders' Deficit Preferred shares, $ 0.0001 par value; 5,000,000 shares authorized; none issued and outstanding - - Class A ordinary shares, $ 0.0001 par value; 500,000,000 shares authorized; none issued and outstanding (excluding the 4,747,021 and 7,408,425 shares subject to redemption as of March 31, 2024 and December 31, 2023, respectively) - - Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized; 5,833,083 issued and outstanding 583 583 Ordinary shares 583 583 Additional paid-in capital - - Accumulated deficit ( 10,875,591 ) ( 10,516,594 ) Total Shareholders' Deficit ( 10,875,008 ) ( 10,516,011 ) TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 54,515,855

View Full Filing

View this 10-Q filing on SEC EDGAR