Starry Sea Acquisition Corp reported results for the first quarter of 2026, posting net income of $325230 and diluted earnings per share of $0.06, compared with a net loss of $(85,504) and loss per share of $(0.07) in the year‑ago quarter as the blank‑check company continued transaction-related activity while pursuing a business combination.
Financial Highlights
- Net income was $325,230 for Q1 2026, compared with a net loss of $(85,504) in the year‑ago quarter.
- Diluted EPS was $0.06 for Q1 2026 (basic and diluted for redeemable ordinary shares); prior year Q1 2025 loss per share was $(0.07).
Business Highlights
- Business model: a blank‑check SPAC formed to source and complete an initial business combination across industries and geographies.
- Capital formation: completed an IPO and private placement and placed $57.5M in trust to fund acquisition activities and target working capital.
- Target engagement: executed a letter of intent with Forever Young for a proposed combination valuing the target at $750M–$900M, subject to due diligence.
- Operational activity: incurred public‑company and transaction‑related expenses while performing due diligence, travel and target evaluation.
Original SEC Filing:
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