Plum Acquisition Corp. III Files 10-Q for Q1 2024
Ticker: PLMWF · Form: 10-Q · Filed: Sep 5, 2024 · CIK: 1845550
Sentiment: neutral
Topics: spac, quarterly-report, sec-filing
TL;DR
Plum Acquisition Corp. III filed its 10-Q for Q1 2024. SPAC activity continues.
AI Summary
Plum Acquisition Corp. III filed its 10-Q for the quarterly period ended March 31, 2024. The company, formerly known as Alpha Partners Technology Merger Corp., is incorporated in the Cayman Islands and operates in the blank checks sector. Its business address is the Empire State Building in New York.
Why It Matters
This filing provides an update on Plum Acquisition Corp. III's financial status and operations for the first quarter of 2024, which is crucial for investors tracking special purpose acquisition companies (SPACs).
Risk Assessment
Risk Level: low — This is a routine quarterly filing for a SPAC, providing standard financial and operational information without immediate significant new risks.
Key Players & Entities
- Plum Acquisition Corp. III (company) — Registrant
- Alpha Partners Technology Merger Corp. (company) — Former company name
- March 31, 2024 (date) — Quarterly period end date
- Empire State Building (location) — Business address
FAQ
What is the primary business of Plum Acquisition Corp. III?
Plum Acquisition Corp. III is classified under the SIC code for 'BLANK CHECKS [6770]', indicating its primary business is that of a special purpose acquisition company.
When was the company formerly known as Alpha Partners Technology Merger Corp.?
The company's name was changed from Alpha Partners Technology Merger Corp. on February 10, 2021.
Where is Plum Acquisition Corp. III incorporated?
Plum Acquisition Corp. III is incorporated in the Cayman Islands.
What is the filing date of this 10-Q report?
This 10-Q report was filed on September 5, 2024.
What is the fiscal year end for Plum Acquisition Corp. III?
The fiscal year end for Plum Acquisition Corp. III is December 31.
Filing Stats: 4,733 words · 19 min read · ~16 pages · Grade level 19.5 · Accepted 2024-09-04 21:15:53
Key Financial Figures
- $0.0001 — ncluded as part of the Units, par value $0.0001 per share PLMJ The Nasdaq Stock Market
- $11.50 — ordinary share at an exercise price of $11.50 PLMJW The Nasdaq Stock Market LLC Unit
Filing Documents
- ea0213151-10q_plumacq3.htm (10-Q) — 862KB
- ea021315101ex31-1_plumacq3.htm (EX-31.1) — 7KB
- ea021315101ex31-2_plumacq3.htm (EX-31.2) — 7KB
- ea021315101ex32-1_plumacq3.htm (EX-32.1) — 4KB
- ea021315101ex32-2_plumacq3.htm (EX-32.2) — 4KB
- 0001213900-24-075759.txt ( ) — 5379KB
- aptm-20240331.xsd (EX-101.SCH) — 51KB
- aptm-20240331_cal.xml (EX-101.CAL) — 19KB
- aptm-20240331_def.xml (EX-101.DEF) — 274KB
- aptm-20240331_lab.xml (EX-101.LAB) — 394KB
- aptm-20240331_pre.xml (EX-101.PRE) — 266KB
- ea0213151-10q_plumacq3_htm.xml (XML) — 584KB
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS Condensed Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Condensed 2 Condensed 3 Condensed 4 Notes to Condensed Financial Statements (Unaudited) 5 Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 24 Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 33 Item 4. CONTROLS AND PROCEDURES 33 PART II - OTHER INFORMATION 34 Item 1. LEGAL PROCEEDINGS 34 Item 1A. RISK FACTORS 34 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 34 Item 3. DEFAULTS UPON SENIOR SECURITIES 34 Item 4. MINE SAFETY DISCLOSURES 34 Item 5. OTHER INFORMATION 34 Item 6. EXHIBITS 35
SIGNATURES
SIGNATURES 36 i PLUM ACQUISTION CORP. III CONDENSED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash $ 40,944 $ — Prepaid expenses 77,365 25,885 Extension contribution due from related parties — 225,000 Total current assets 118,309 250,885 Investments held in Trust Account 24,813,011 157,330,245 Total Assets $ 24,931,320 $ 157,581,130 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 109,987 $ — Accounts payable - related party 6,626 — Accrued expenses and other current liabilities 99,978 805 Promissory note - related party 481,367 — Total current liabilities 697,958 805 Warrant liabilities 1,567,692 723,550 Total Liabilities 2,265,650 724,355 Commitments (Note 6) Class A ordinary shares subject to possible redemption, 2,284,199 and 14,717,409 shares at redemption value of $ 10.86 and $ 10.71 per share at March 31, 2024 and December 31, 2023, respectively 24,813,011 157,555,245 Shareholders' Deficit Preference shares, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding — — Class A ordinary shares, $ 0.0001 par value; 200,000,000 shares authorized; 865,000 shares issued and outstanding at March 31, 2024 and December 31, 2023; excluding 2,284,199 and 14,717,409 shares subject to possible redemption, respectively, at March 31, 2024 and December 31, 2023 87 87 Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 7,062,500 shares issued and outstanding 706 706 Additional paid-in capital — — Accumulated deficit ( 2,148,134 ) ( 699,263 ) Total Shareholders' Deficit ( 2,147,341 ) ( 698,470 ) Total Liabilities and Shareholders' Deficit $ 24,931,320 $ 157,581,130 The accompanying notes are an integral part of the unaudited condensed financial statements. 1 PLUM ACQUISTION CORP. III CONDENSED (UNAUDITED) Three Months End