UY Scuti Acquisition Corp.
10.18+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · UYSC · USD
Key Stats
Market Cap
77.96MP/E (TTM)
339.33Basic EPS (TTM)
0.03Dividend Yield
0%Recent Filings
8-K
SPAC issues sponsor note
UY Scuti Acquisition Corp. issued an unsecured promissory note on September 12, 2025, to its sponsor UY Scuti Investments Limited for up to $1,000,000 in working capital to cover transaction costs toward a business combination. The interest-free note matures on the earlier of March 31, 2026, or deal closure, with the sponsor able to convert outstanding principal into units at $10.00 each. This extends the SPAC's runway amid merger pursuits. Sponsors often convert debt to equity.
10-Q
Q1 FY2026 results
UY Scuti Acquisition Corp. swung to a net income of $332,078 for Q1 FY2026 ended June 30, 2025, up from a $30,000 loss a year earlier, thanks to $566,531 in interest from its freshly funded Trust Account offsetting $234,453 in operating expenses. The IPO closed strong in April 2025, raising $57.5M in gross proceeds at $10 per unit, with $58.1M now parked in the Trust yielding steady returns. Cash outside the Trust sits at $282,083, ample for hunting deals, while related-party debt cleared out post-IPO. On July 18, 2025, the company inked a merger deal with Isdera Group, valuing the auto design firm at $1B in stock, setting up a Cayman merger structure with shareholder support locked in. Yet merger timelines hinge on approvals, a classic SPAC snag.
8-K
SPAC merger with Isdera announced
UY Scuti Acquisition Corp. signed a merger agreement on July 18, 2025, to acquire Isdera Group Limited, parent of Chinese auto designer Xinghui Automotive Technology, for $1,000,000,000 in shares valued at $10 each. This SPAC deal merges UYSC into a new entity that absorbs Isdera, listing on Nasdaq with a five-member board including one UYSC designee and Wenfang Song. Closing hinges on shareholder votes, SEC effectiveness, CSRC approval, and Nasdaq listing by December 31, 2026. Regulatory delays pose a key risk.
10-K
FY2025 results
Scuti Acquisition Corporation, a blank check company formed in January 2024, completed its IPO in April 2025, raising $57.5 million in gross proceeds from 5.75 million units at $10 each, with funds placed in trust for a future business combination. For FY2025 ended March 31, 2025, the company reported no revenues and a net loss of $156,520, driven by formation and operating costs of $163,268, while holding $17,221 in cash outside trust amid a $138,268 working capital deficit. Q4 FY2025 saw no operational momentum as activities remained focused on pre-IPO preparations, with no quarterly breakdowns disclosed; the sponsor's $25,000 investment in 1.44 million founder shares (derived) underscores alignment yet highlights dilution risks. Liquidity relies on sponsor advances up to $500,000, with no capex, dividends, or buybacks; no annual guidance provided. Sponsor control poses a key risk, potentially prioritizing combination over shareholder value.
8-K
Auditor switch completed cleanly
UY Scuti Acquisition Corp. switched auditors on June 5, 2025, dismissing WWC, P.C. and appointing Audit Alliance LLP for the fiscal year ended March 31, 2025. No disagreements or reportable events marred WWC's tenure since inception in January 2024. The clean transition bolsters audit continuity. WWC concurs with the filing's account.
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