Oyster Enterprises II Acquisition Corp reported first-quarter 2026 results, recording net income of $2.09M and diluted earnings per share of $0.06 versus a net loss of $(25.1K) and EPS of $(0.00) in the year‑ago quarter, reflecting a swing to profit driven by interest income on its trust account.
Financial Highlights
- Net income was $2.09M for 1Q 2026, versus $(25.1K) in 1Q 2025 (swing to profit driven by interest on Trust Account).
- Diluted EPS was $0.06 for 1Q 2026, compared with $(0.00) in 1Q 2025.
Business Highlights
- Capital raise and trust funding: Completed IPO and private placement totaling $260.08M; approximately $253M was placed in a trust to fund the company’s initial business combination efforts.
- Strategy: Actively targeting AI and digital assets/blockchain companies for an initial business combination and subsequent growth opportunities.
- Operating activity: No operating revenues yet; activities during the quarter were focused on target identification, due diligence, travel, deal structuring and maintaining public-company compliance.
- Liquidity: Cash outside the trust was used to support deal sourcing and diligence, with sponsor funding and an IPO note covering early-stage costs.
Original SEC Filing:
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