SPKL
Spark I Acquisition Corporation11.23
+0.08+0.72%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
97.24MP/E (TTM)
160.43Basic EPS (TTM)
0.07Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Spark I Acquisition Corporation swung to a net income of $362,583 for Q2 FY2025 ended June 30, 2025, down from $870,843 a year earlier, as expenses climbed 62% y/y to $763,867 amid heightened search costs, yet offset by $1.1M in trust unrealized gains. For the half-year, net income dipped 45% y/y to $904,912, with operating losses widening to $1.3M from $1.0M, cushioned by $2.2M in trust income. Cash swelled to $1.1M, bolstered by $1.7M in sponsor notes, while the trust hit $109.2M at $10.92 per share. Shareholders extended the business combination deadline to September 29, 2026, but heavy redemptions later slashed trust assets to $24.4M. Sponsor converted 4M Class B shares to Class A post-quarter. No non-GAAP metrics disclosed in the 10-Q. Still, finding a target grows tougher amid SPAC fatigue.
8-K
SPAC extends merger deadline
Spark I Acquisition Corporation extended its deadline to complete a business combination from July 11, 2025, to September 29, 2026, after shareholders approved the amendment on July 8, 2025. The sponsor converted 4,000,000 Class B shares into Class A shares and will deposit $0.015 monthly per public share into the trust account starting July 11. Yet 7,763,287 shares redeemed for $84.8 million, leaving $24.4 million in trust. This buys time for a deal amid heavy redemptions.
8-K
Sponsor funds SPAC extension
Spark I Acquisition Corporation's sponsor agreed to fund monthly trust contributions of up to $55,000 starting July 11, 2025, if shareholders approve extending the business combination deadline from July 11, 2025, to September 29, 2026, at the July 8 meeting. This non-interest-bearing note, capped at $2.5 million including working capital drawdowns, buys time while negotiations advance on a binding deal with Kneron, the edge AI provider. Yet risks loom if the extension fails. Forward-looking plans hinge on approval.
10-Q
Q1 FY2025 results
Spark I Acquisition Corporation posted a net income of $542,329 for Q1 FY2025 ended March 31, 2025, down from $770,378 a year earlier, as interest earned on its $108.0M trust account fell to $1.12M from $1.33M while expenses edged up to $577K from $556K (derived). Operating loss stood at $577K, fully offset by interest income for the net gain, with diluted EPS of $0.03 across 10M Class A and 6.4M Class B shares, reconciling precisely without dilution. Cash outside trust climbed to $487K from $375K q/q, funded by a $1.44M sponsor convertible note (non-interest bearing, repayable post-combination or convertible to warrants). No free cash flow or non-GAAP metrics disclosed in the 10-Q. The trust holds steady at $10.80 per redeemable share. Yet time ticks toward the July 2025 deadline.
8-K
Auditor change to CBIZ
Spark I Acquisition Corporation dismissed Marcum LLP as its independent auditor on April 8, 2025, and engaged CBIZ CPAs P.C. following CBIZ's acquisition of Marcum's attest business in November 2024. Marcum's reports for 2023 and 2024 included a going concern explanatory paragraph but no disagreements or reportable events arose. The switch ensures continuity. No audit hiccups reported.
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