Inception Growth Acquisition Ltd Files 10-Q/A Amendment

TL;DR

**Inception Growth Acquisition Ltd** filed an amended 10-Q for Q1 2022 on 7/18/24. Check filings for details.

AI Summary

Inception Growth Acquisition Ltd filed an amendment (10-Q/A) on July 18, 2024, for the quarterly period ended March 31, 2022. The company, incorporated in Delaware, is a blank check company with its principal executive offices located at 875 Washington Street, New York, NY 10014. The filing relates to SEC Act of 1934, with file number 001-41134.

Why It Matters

This amended filing provides updated financial information for Inception Growth Acquisition Ltd for the period ending March 31, 2022, which is crucial for investors to assess the company's financial health and performance.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous quarterly report and does not appear to contain new material adverse information.

Key Numbers

• 001-41134 — SEC File Number (Identifies the specific filing with the SEC.)
• 20220331 — Fiscal Period End (Indicates the end date of the reporting quarter.)

Key Players & Entities

• Inception Growth Acquisition Ltd (company) — Registrant
• 001-41134 (dollar_amount) — SEC File Number
• March 31, 2022 (date) — Quarterly period ended
• 875 Washington Street, New York, NY 10014 (location) — Principal Executive Offices
• July 18, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — onsisting of one share of common stock, $0.0001 par value, one-half (1/2) of one redeem
• $11.50 — of common stock at an exercise price of $11.50 IGTAW The Nasdaq Stock Market LLC Righ
• $2,250,000 — edemptions, subject to a maximum fee of $2,250,000, resulting in an overstatement $337,500
• $337,500 — ,250,000, resulting in an overstatement $337,500 of deferred underwriting compensation i
• $50,000 — erest to pay dissolution expenses up to $50,000), divided by the number of then outstan

Filing Documents

• ea020942301-10qa1_incept.htm (10-Q/A) — 435KB
• ea020942301ex31-1_incept.htm (EX-31.1) — 11KB
• ea020942301ex31-2_incept.htm (EX-31.2) — 11KB
• ea020942301ex32-1_incept.htm (EX-32.1) — 4KB
• ea020942301ex32-2_incept.htm (EX-32.2) — 4KB
• 0001213900-24-062538.txt ( ) — 3031KB
• igta-20220331.xsd (EX-101.SCH) — 45KB
• igta-20220331_cal.xml (EX-101.CAL) — 14KB
• igta-20220331_def.xml (EX-101.DEF) — 155KB
• igta-20220331_lab.xml (EX-101.LAB) — 290KB
• igta-20220331_pre.xml (EX-101.PRE) — 161KB
• ea020942301-10qa1_incept_htm.xml (XML) — 334KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Balance Sheets 1 Unaudited Condensed Statements of Operations 2 Unaudited Condensed Statements of Changes in Shareholders' Deficit 3 Unaudited Condensed Statements of Cash Flows 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 23 Item 4. Control and Procedures 23

– OTHER INFORMATION

PART II – OTHER INFORMATION 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

– FINANCIAL

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements INCEPTION GROWTH ACQUISITION LIMITED CONDENSED BALANCE SHEETS March 31, 2022 December 31, 2021 (Unaudited) (Restated) ASSETS Current assets: Cash and cash equivalents $ 796,731 $ 1,365,181 Prepayment 388,673 404,762 Total current assets 1,185,404 1,769,943 Cash and investments held in trust account 104,545,878 104,535,351 TOTAL ASSETS $ 105,731,282 $ 106,305,294 LIABILITIES, TEMPORARY EQUITY AND SHAREHOLDERS' DEFICIT Current liabilities: Accrued liabilities $ 54,137 $ 475,948 Advances from a related party 75,951 10,253 Total current liabilities 130,088 486,201 Deferred underwriting compensation 2,250,000 2,587,500 TOTAL LIABILITIES 2,380,088 3,073,701 Commitments and contingencies Common stock, subject to possible redemption 10,350,000 shares (at redemption value of $ 10.10 per share) 104,545,878 104,535,000 Shareholders' deficit: Common stock, $ 0.0001 par value; 26,000,000 shares authorized; 2,637,500 shares issued and outstanding (excluding 10,350,000 shares subject to possible redemption) 264 264 Accumulated deficit ( 1,194,948 ) ( 1,303,671 ) Total shareholders' deficit ( 1,194,684 ) ( 1,303,407 ) TOTAL LIABILITIES, TEMPORARY EQUITY AND SHAREHOLDERS' DEFICIT $ 105,731,282 $ 106,305,294 See accompanying notes to unaudited condensed financial 1 INCEPTION GROWTH ACQUISITION LIMITED UNAUDITED CONDENSED Three months ended March 31, 2022 From March 4, 2021 (date of inception) to March 31, 2021 Formation, general and administrative expense $ ( 228,426 ) - Other income: Dividend income 10,527 - Total other income, net 10,527 - Loss before income taxes ( 217,899 ) - Income taxes - - NET LOSS $ ( 217,899 ) - Basic and diluted weighted average shares outstanding, common stock subject to possible redemption 10,350,000 - Basic and diluted net loss per share, common stock su

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View this 10-Q/A filing on SEC EDGAR