Melar Acquisition Corp. I/Cayman Files 10-Q
Ticker: MACIU · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 2016221
Sentiment: neutral
Topics: 10-Q, acquisition, warrants, financials
TL;DR
Melar Acquisition Corp. I/Cayman 10-Q filed. Focus on warrant valuations using Level 3 inputs.
AI Summary
Melar Acquisition Corp. I/Cayman filed its 10-Q for the period ending September 30, 2024. The filing details financial information and fair value measurements for its public warrants, utilizing Level 3 inputs such as risk-free interest rates, option volatility, expected term, expected dividend payments, and exercise price. The company's fiscal year ends on December 31.
Why It Matters
This filing provides insight into the financial health and valuation of Melar Acquisition Corp. I/Cayman's public warrants, which can impact investor decisions.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated.
Key Numbers
- 001-42134 — SEC File Number (Identifies the company's filing history with the SEC.)
- 0002016221 — Central Index Key (Unique identifier for the filer in SEC systems.)
Key Players & Entities
- Melar Acquisition Corp. I/Cayman (company) — Filer of the 10-Q
- September 30, 2024 (date) — End of reporting period
- December 31 (date) — Fiscal year end
- 119 WEST 23RD STREET SUITE 206 NEW YORK NY 10011 (address) — Company's business and mailing address
FAQ
What are the key Level 3 inputs used to value Melar Acquisition Corp. I/Cayman's public warrants?
The key Level 3 inputs mentioned are risk-free interest rate, option volatility, expected term, expected dividend payment, and exercise price.
What is the fiscal year end for Melar Acquisition Corp. I/Cayman?
The company's fiscal year ends on December 31.
What is the SEC file number for Melar Acquisition Corp. I/Cayman?
The SEC file number is 001-42134.
What is the reporting period covered by this 10-Q filing?
The reporting period is for the quarter ended September 30, 2024.
Where is Melar Acquisition Corp. I/Cayman's business address listed?
The business address is 119 WEST 23RD STREET, SUITE 206, NEW YORK, NY 10011.
Filing Stats: 4,598 words · 18 min read · ~15 pages · Grade level 19.3 · Accepted 2024-11-12 17:24:42
Key Financial Figures
- $0.0001 — LC Class A ordinary shares, par value $0.0001 per share MACI The Nasdaq Stock Mar
- $11.50 — ordinary share at an exercise price of $11.50 per share MACIW The Nasdaq Stock Ma
Filing Documents
- tmb-20240930x10q.htm (10-Q) — 767KB
- tmb-20240930xex31d1.htm (EX-31.1) — 13KB
- tmb-20240930xex31d2.htm (EX-31.2) — 12KB
- tmb-20240930xex32d1.htm (EX-32.1) — 7KB
- tmb-20240930xex32d2.htm (EX-32.2) — 7KB
- 0001410578-24-001896.txt ( ) — 4370KB
- tmb-20240930.xsd (EX-101.SCH) — 48KB
- tmb-20240930_cal.xml (EX-101.CAL) — 20KB
- tmb-20240930_def.xml (EX-101.DEF) — 181KB
- tmb-20240930_lab.xml (EX-101.LAB) — 332KB
- tmb-20240930_pre.xml (EX-101.PRE) — 268KB
- tmb-20240930x10q_htm.xml (XML) — 579KB
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements Condensed Balance Sheet as of September 30, 2024 (Unaudited) 1 Condensed Statements of Operations for the Three Months Ended September 30, 2024 and for the Period from March 11, 2024 (Inception) through September 30, 2024 (Unaudited) 2 Condensed Statements of Changes in Shareholders' Deficit for the Three Months Ended September 30, 2024 and for the Period from March 11, 2024 (Inception) through September 30, 2024 (Unaudited) 3 Condensed Statement of Cash Flows for the Period from March 11, 2024 (Inception) through September 30, 2024 (Unaudited) 4 Notes to Condensed Financial Statements (Unaudited) 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 18
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 21
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 23
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 23
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 23
Other Information
Item 5. Other Information 23
Exhibits
Item 6. Exhibits 24
Signatures
Signatures 25 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. MELAR ACQUISITION CORP. I CONDENSED BALANCE SHEET SEPTEMBER 30, 2024 (UNAUDITED) ASSETS Current assets Cash $ 934,098 Prepaid expenses 170,603 Total Current Assets 1,104,701 Long-term prepaid expenses 109,422 Cash and marketable securities held in Trust Account 162,531,350 TOTAL ASSETS $ 163,745,473 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities Accounts payable $ 11,343 Total current liabilities 11,343 Deferred underwriting fee 6,600,000 Total Liabilities 6,611,343 Commitments and Contingencies (Note 6) Class A ordinary shares subject to possible redemption, 16,000,000 shares at redemption value of approximately $ 10.16 per share 162,531,350 Shareholders' deficit Preference shares, $ 0.0001 par value; 5,000,000 shares authorized; none issued or outstanding — Class A ordinary shares, $ 0.0001 par value; 500,000,000 shares authorized; none issued or outstanding (excluding 16,000,000 shares subject to possible redemption) — Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized; 5,621,622 shares issued and outstanding 562 Additional paid-in capital — Accumulated deficit ( 5,397,782 ) Total Shareholders' Deficit ( 5,397,220 ) TOTAL LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' DEFICIT $ 163,745,473 The accompanying notes are an integral part of the unaudited condensed financial statements. 1 Table of Contents MELAR ACQUISITION CORP. I CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Period from March 11, 2024 Three Months (Inception) Ended Through September 30, September 30, 2024 2024 General and administrative costs $ 130,378 $ 238,107 Loss from operations ( 130,378 ) ( 238,107 ) Other income: Change in fair value of over-allotment option liability 141,754 169,119 Interest on cash held in the operating account 743 743 Interest earned on