Starry Sea Acquisition reported no operating revenues for the period and recorded net income of $0.321 million, driven primarily by interest income of $0.863 million that was partly offset by operating costs of $0.543 million. As a special-purpose acquisition company (SPAC), the firm has placed IPO proceeds in trust pending a business combination, and its per‑share earnings reflect activities prior to any completed acquisition. The company remains focused on identifying and diligencing target businesses while incurring public‑company and transaction‑related expenses.
Financial Highlights
- Revenue: $0 (no operating revenues generated to date)
- Gross Profit: $0 (no operating activities or revenues to report)
- Net Income: $0.321 million
- Interest Income: $0.863 million
- Operating Costs: $0.543 million
Business Highlights
- Business model: Operates as a blank‑check SPAC focused on acquiring one or more target businesses across industries and geographies.
- Capital formation: Completed IPO and overallotment raising $57.5 million with proceeds placed in a trust to fund an initial business combination.
- Operational activity: No operating revenues to date; primary activities consist of target identification, due diligence, and maintaining public‑company compliance.
- Transaction milestone: Entered a letter of intent with Forever Young on Sept 29, 2025, targeting a $750–$900 million pre‑money valuation, subject to due diligence.
- Public company readiness: Expectation of increased governance, reporting, and due‑diligence costs as the SPAC pursues and structures a business combination.
Original SEC Filing:
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