Spark I Acquisition Corp Files 10-Q/A Amendment

TL;DR

<b>Spark I Acquisition Corp has filed a 10-Q/A amendment detailing financial information as of September 30, 2023.</b>

AI Summary

Spark I Acquisition Corp (SPKLW) filed a Amended Quarterly Report (10-Q/A) with the SEC on April 4, 2024. Spark I Acquisition Corp filed a 10-Q/A amendment on April 4, 2024. The filing pertains to the period ending September 30, 2023. Key dates include the IPO on October 11, 2023, and the formation date of December 8, 2021. The company is incorporated in Delaware with a fiscal year end of December 31. Financial data points such as Retained Earnings and Additional Paid-In Capital are detailed for various periods.

Why It Matters

For investors and stakeholders tracking Spark I Acquisition Corp, this filing contains several important signals. This amendment provides updated financial disclosures for Spark I Acquisition Corp, crucial for investors tracking the company's financial health and reporting accuracy. The filing includes specific details on warrants, founder shares, and subsequent events, offering insights into the company's capital structure and recent corporate actions.

Risk Assessment

Risk Level: low — Spark I Acquisition Corp shows low risk based on this filing. The risk is low as this is a routine amendment filing for a SPAC, providing updated financial information rather than indicating new material adverse events.

Analyst Insight

Review the updated financial statements and disclosures in the 10-Q/A to understand any changes in Spark I Acquisition Corp's financial position and warrant structure.

Key Numbers

• 2023-09-30 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-04 — Filing Date (FILED AS OF DATE)
• 2021-12-08 — Founder Shares Date (spkl:FounderSharesMember)
• 2023-10-11 — IPO Date (us-gaap:CommonClassAMember us-gaap:IPOMember)

Key Players & Entities

• Spark I Acquisition Corp (company) — FILER
• SPKLW (company) — Ticker Symbol
• 2024-04-04 (date) — FILED AS OF DATE
• 2023-09-30 (date) — CONFORMED PERIOD OF REPORT
• 0001104659-24-043241 (document) — Accession Number
• 10-Q/A (document) — FORM TYPE
• 0001884046 (company) — Central Index Key
• 2023-10-11 (date) — Subsequent Event - IPO

FAQ

Key Dates

• 2023-09-30: Period End Date — Financial reporting period for the 10-Q/A
• 2024-04-04: Filing Date — Date the 10-Q/A amendment was filed
• 2023-10-11: IPO Date — Date of the Initial Public Offering
• 2021-12-08: Founder Shares Issuance — Date related to the issuance of founder shares

Key Financial Figures

• $0.0001 — nsisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemab
• $11.50 — ordinary share at an exercise price of $11.50 per share SPKLW The Nasdaq Stock Ma

Filing Documents

• spkl-20230930x10qa.htm (10-Q/A) — 615KB
• spkl-20230930xex31d1.htm (EX-31.1) — 12KB
• spkl-20230930xex31d2.htm (EX-31.2) — 12KB
• spkl-20230930xex32d1.htm (EX-32.1) — 6KB
• spkl-20230930xex32d2.htm (EX-32.2) — 6KB
• 0001104659-24-043241.txt (&nbsp;) — 3179KB
• spkl-20230930.xsd (EX-101.SCH) — 33KB
• spkl-20230930_cal.xml (EX-101.CAL) — 16KB
• spkl-20230930_def.xml (EX-101.DEF) — 163KB
• spkl-20230930_lab.xml (EX-101.LAB) — 259KB
• spkl-20230930_pre.xml (EX-101.PRE) — 228KB
• spkl-20230930x10qa_htm.xml (XML) — 307KB

Financial Statements of Spark I Acquisition Corporation

Financial Statements of Spark I Acquisition Corporation: Page Condensed Balance Sheets as of September 30, 2023 (unaudited) and December 31, 2022 1 Condensed Unaudited Statements of Operations for the three and nine months ended September 30, 2023 and 2022 2 Condensed Unaudited Statements of Changes in Shareholders' Deficit for the three and nine months ended September 30, 2023 and 2022 3 Condensed Unaudited Statements of Cash Flows for the nine months ended September 30, 2023 and 2022 4 Notes to Condensed Unaudited 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 15

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 17

Controls and Procedures

Item 4. Controls and Procedures 17

- OTHER INFORMATION

PART II - OTHER INFORMATION 19

Legal Proceedings

Item 1. Legal Proceedings 19

Risk Factors

Item 1A. Risk Factors 19

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 20

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 20

Other Information

Item 5. Other Information 20

Exhibits

Item 6. Exhibits 20

SIGNATURES

SIGNATURES 21 Table of Contents SPARK I ACQUISITION CORPORATION CONDENSED BALANCE SHEETS September 30, December 31, 2023 2022 (unaudited) ASSETS Current Assets: Cash $ 113,646 $ 587,641 Prepaid expenses 71,055 87,500 Total Current Assets 184,701 675,141 Deferred offering costs 999,922 629,358 Total Assets $ 1,184,623 $ 1,304,499 LIABILITIES AND SHAREHOLDERS' DEFICIT Current Liabilities: Accrued expenses $ 18,378 $ 20 Accrued offering costs 417,441 316,636 Related party payable 5,502 — Promissory note payable – Sponsor 3,750,000 2,750,000 Total Current Liabilities 4,191,321 3,066,656 Commitments and contingencies (Note 6) Shareholders' Deficit: Preference 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 — — Class B ordinary shares, $ 0.0001 par value, 50,000,000 shares authorized, 6,870,130 shares issued and outstanding (1) 687 687 Additional paid-in capital 24,313 24,313 Accumulated deficit ( 3,031,698 ) ( 1,787,157 ) Total Shareholders' Deficit ( 3,006,698 ) ( 1,762,157 ) Total Liabilities and Shareholders' Deficit $ 1,184,623 $ 1,304,499 (1) Includes an aggregate of up to 448,052 shares of Class B ordinary shares subject to forfeiture if the over- allotment option is not exercised in full or in part by the underwriters and includes 3,435,065 Class B ordinary shares subject to forfeiture immediately prior to the closing of our initial business combination depending on the amount of the proceeds received under the forward purchase agreement or in the event of our liquidation and subsequent dissolution (see Note 7). The accompanying notes are an integral part of these unaudited financial statements. 1 Table of Contents SPARK I ACQUISITION CORPORATION CONDENSED STATEMENTS OF OPERATIONS (unaudited

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