WinVest Acquisition Corp. Q1 2024 10-Q Filed

TL;DR

**WINV Q1 10-Q is IN! Details on shares, warrants, and rights disclosed.**

AI Summary

WinVest Acquisition Corp. filed its 10-Q for the period ending March 31, 2024. The company, a blank check company, reported its financial status for the first quarter of 2024. Key financial data and share information were disclosed, including details on common stock, warrants, and rights.

Why It Matters

This filing provides insight into the financial health and structure of WinVest Acquisition Corp. as it progresses towards a potential business combination.

Risk Assessment

Risk Level: low — This is a standard quarterly filing for a SPAC, providing routine financial disclosures.

Key Numbers

• Q1 2024 — Reporting Period (Covers the first quarter of 2024.)
• March 31, 2024 — Balance Sheet Date (The date as of which financial position is reported.)
• December 31, 2023 — Prior Balance Sheet Date (The date of the previous balance sheet for comparison.)

Key Players & Entities

• WinVest Acquisition Corp. (company) — Filer of the 10-Q
• 0001493152-24-020904 (other) — Accession Number for the filing
• 20240331 (date) — Reporting period end date
• 20240521 (date) — Filing date
• 6770 (other) — Standard Industrial Classification for Blank Checks

FAQ

Key Financial Figures

• $0.0001 — ck Market LLC Common Stock, par value $0.0001 per share WINV The Nasdaq Stock Mar

Filing Documents

• form10-q.htm (10-Q) — 648KB
• ex31-1.htm (EX-31.1) — 20KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-020904.txt ( ) — 3847KB
• winv-20240331.xsd (EX-101.SCH) — 30KB
• winv-20240331_cal.xml (EX-101.CAL) — 31KB
• winv-20240331_def.xml (EX-101.DEF) — 176KB
• winv-20240331_lab.xml (EX-101.LAB) — 250KB
• winv-20240331_pre.xml (EX-101.PRE) — 204KB
• form10-q_htm.xml (XML) — 489KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1 ITEM 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Balance Sheets as of March 31, 2024 and December 31, 2023 1 Unaudited Condensed Statements of Operations for the Three Months Ended March 31, 2024 and 2023 2 Unaudited Condensed Statements of Changes in Stockholders' Deficit for the Three Months Ended March 31, 2024 and 2023 3 Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 4 Notes to Unaudited Condensed Financial Statements 5 ITEM 2.

Management's Discussion and Analysis of Financial Conditions and Results of Operations

Management's Discussion and Analysis of Financial Conditions and Results of Operations 22 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 27 ITEM 4.

Controls and Procedures

Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION 29 ITEM 1.

Legal Proceedings

Legal Proceedings 29 ITEM 1A.

Risk Factors

Risk Factors 29 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 ITEM 3. Defaults Upon Senior Securities 30 ITEM 4. Mine Safety Disclosures 30 ITEM 5. Other Information 30 ITEM 6. Exhibits 31

SIGNATURES

SIGNATURES 32 i PART I – FINANCIAL INFORMATION Item 1. Financial Statements WINVEST ACQUISITION CORP. CONDENSED BALANCE SHEETS March 31, 2024 December 31, 2023 ASSETS Current assets: Cash $ 50,121 $ 37,946 Tax receivable - 99,814 Prepaid expenses, short-term portion 157,750 133,117 Total current assets 207,871 270,877 Cash held in Trust Account 12,715,682 12,453,412 Total assets 12,923,553 12,724,289 LIABILITIES AND STOCKHOLDERS' (DEFICIT) Current liabilities: Accounts payable and accrued liabilities 1,006,707 991,998 Income tax payable 213,000 189,000 Excise tax payable 80,443 80,443 Related party payables 255,000 225,000 Extension note, related party 1,360,000 1,195,000 Promissory note, related party 378,500 306,500 Total current liabilities 3,293,650 2,987,941 Deferred underwriting commissions 4,025,000 4,025,000 Total liabilities 7,318,650 7,012,941 Commitments and Contingencies (Note 5) Common stock subject to possible redemption; 1,143,123 shares outstanding at redemption values of $ 11.12 and $ 10.89 per share as of March 31, 2024 and December 31, 2023, respectively 12,715,682 12,453,412 Stockholders' deficit: Preferred stock, par value $ 0.0001 , 1,000,000 shares authorized, 0 issued and outstanding - - Common stock, par value $ 0.0001 , 100,000,000 shares authorized; 2,875,000 issued and outstanding (excluding 1,143,123 shares subject to possible redemption as of March 31, 2024 and December 31, 2023) 288 288 Additional paid-in capital - - Accumulated deficit ( 7,111,067 ) ( 6,742,352 ) Total stockholders' deficit ( 7,110,779 ) ( 6,742,064 ) Total liabilities and stockholders' deficit $ 12,923,553 $ 12,724,289 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 WINVEST ACQUISITION CORP. CONDENSED (Unaudited) For the Three Months Ended For the Three Months Ended

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