Metal Sky Star Acquisition Corp Files 10-Q

TL;DR

Metal Sky Star Acquisition Corp (MSSA) filed its Q2 10-Q. Blank check company focused on real estate/construction.

AI Summary

Metal Sky Star Acquisition Corp filed its 10-Q for the period ending June 30, 2025. The company, formerly known as Metal Sky Acquisition Corp, is a blank check company focused on the real estate and construction sector. Its principal executive offices are located at 221 River Street, 9th Floor, Hoboken, NJ.

Why It Matters

This filing provides investors with an update on the financial status and operations of Metal Sky Star Acquisition Corp, a special purpose acquisition company.

Risk Assessment

Risk Level: low — This is a routine 10-Q filing for a SPAC with no immediately apparent significant financial events or disclosures.

Key Numbers

• 0.001 — Par Value (Par value for ordinary shares and units)
• 11.50 — Exercise Price (Exercise price for redeemable warrants)

Key Players & Entities

• Metal Sky Star Acquisition Corp (company) — Filer of the 10-Q
• Metal Sky Acquisition Corp (company) — Former name of the filer
• 20250630 (date) — End of the reporting period
• 20250815 (date) — Filing date
• Hoboken, NJ (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — each consisting of one Ordinary Share, $0.001 par value, one redeemable warrant, and
• $11.50 — Ordinary Share at an exercise price of $11.50 per share MSSWF OTC Markets Group I

Filing Documents

• form10-q.htm (10-Q) — 632KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001641172-25-024362.txt ( ) — 3749KB
• mssa-20250630.xsd (EX-101.SCH) — 28KB
• mssa-20250630_cal.xml (EX-101.CAL) — 31KB
• mssa-20250630_def.xml (EX-101.DEF) — 151KB
• mssa-20250630_lab.xml (EX-101.LAB) — 231KB
• mssa-20250630_pre.xml (EX-101.PRE) — 192KB
• form10-q_htm.xml (XML) — 520KB

Financial Information

Part I. Financial Information 1

Consolidated Financial Statements

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

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 16

Quantitative and Qualitative Disclosures Regarding Market Risk

Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 23

Risk Factors

Item 1A. Risk Factors 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 24

Signatures

Part III. Signatures 25 i Part I. Financial Information Item 1. Consolidated Financial Statements METAL SKY STAR ACQUISITION CORPORATION AND SUBDISIARY CONSOLIDATED BALANCE SHEETS As of June 30, 2025 As of December 31, 2024 (Unaudited) Assets Current assets: Prepaid expense 1,404 6,325 Total current assets 1,404 6,325 Noncurrent assets Marketable securities held in trust account 861,784 6,677,519 Total noncurrent assets 861,784 6,677,519 Total assets $ 863,188 $ 6,683,844 Liabilities, redeemable ordinary shares and shareholders' deficit Current liabilities: Accrued expenses $ 507,441 $ 400,286 Due to related parties 1,418,801 1,081,153 Promissory notes-related party 3,047,403 2,822,403 Total current liabilities 4,973,645 $ 4,303,842 Noncurrent liabilities Deferred underwriting commissions 2,875,000 2,875,000 Total noncurrent liabilities 2,875,000 2,875,000 Total liabilities 7,848,645 7,178,842 Commitments and contingencies (Note 6) - - Ordinary shares subject to possible redemption, 60,523 and 552,451 shares at redemption value of $ 14.24 and $ 12.09 per share as of June 30, 2025 and December 31, 2024, respectively 861,784 6,677,519 Shareholders' deficit: Ordinary shares, par value $ 0.001 , authorized 50,000,000 shares; 3,205,000 and 3,205,000 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively, excluding 60,523 and 552,451 shares subject to possible redemption at June 30, 2025 and December 31, 2024, respectively. 3,205 3,205 Accumulated deficit ( 7,850,446 ) ( 7,175,722 ) Total shareholders' deficit ( 7,847,241 ) ( 7,172,517 ) Total liabilities, redeemable ordinary shares and shareholders' deficit $ 863,188 $ 6,683,844 The accompanying notes are an integral part of the unaudited consolidated financial statements. 1 METAL SKY STAR ACQUISITION CORPORATION AND SUBSIDIARY CONSOLIDATED (UNAUDITE

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View this 10-Q filing on SEC EDGAR