Bluerock Acquisition reported net income of $89,649 for the period, primarily driven by $238,674 of interest income on its Trust Account offset by $149,025 of operating costs; the company has no operating revenues. The filing shows $172.739 million held in a Trust Account invested in short-dated U.S. Treasury bills intended to fund a future business combination, while $0.694 million in cash is held outside the trust for working capital needs.
Financial Highlights
- Net Income: $89,649 (consisting of $238,674 interest income on the Trust Account less $149,025 operating costs)
- Cash held in the Trust Account: $172.739 million (invested in U.S. Treasury Bills maturing within 185 days; intended to fund a Business Combination)
- Cash outside Trust / Working Capital: $0.694 million cash outside the trust; working capital surplus of $0.702 million
Business Highlights
- Formation & Purpose: Formed as a Cayman Islands blank-check company focused on completing a business combination in any industry.
- Capital Raise & Trust Funding: Completed an IPO and private warrant sale, placing approximately $172.5 million into a trust to finance an acquisition and post-combination operations.
- Operational Activity: No operating revenues to date; activities have been limited to corporate formation, IPO preparation, identification of potential targets, and due diligence.
- Use of Non-Trust Cash: Maintains a small amount of cash outside the trust to fund target evaluation, travel, diligence, and transaction structuring.
Original SEC Filing:
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