AA Mission Acquisition Corp. Releases Q3 2024 10-Q Report

AA Mission Acquisition Corp., a blank check company incorporated in the Cayman Islands, has released its Form 10-Q report for the third quarter of 2024. The company, which focuses on effecting a merger, share exchange, asset acquisition, or similar business combination with one or more businesses, has not yet selected any specific business combination target. The report provides detailed insights into the company's financial performance and operational status as of September 30, 2024.

Financial Highlights

• Net Income: $2.23 million for the three months ended September 30, 2024, consisting of a loss of $339,668 from operating costs offset by income earned on the Trust Account of $2,567,083.
• Net Income: $2.11 million for the period from February 9, 2024 (inception) through September 30, 2024, consisting of a loss of $465,049 from formation and operating costs offset by income earned on the Trust Account of $2,567,083.
• Basic and diluted net income per share, redeemable ordinary shares: $0.69 for the three months ended September 30, 2024.
• Basic and diluted net income per share, redeemable ordinary shares: $2.59 for the period from February 9, 2024 (inception) through September 30, 2024.
• Basic and diluted net loss per share, non-redeemable ordinary shares: $(1.33) for the three months ended September 30, 2024.
• Basic and diluted net loss per share, non-redeemable ordinary shares: $(2.57) for the period from February 9, 2024 (inception) through September 30, 2024.

Business Highlights

• Company Overview: AA Mission Acquisition Corp. is focused on effecting a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. The company has not yet selected any specific business combination target.
• IPO and Fundraising: Successfully completed its Initial Public Offering (IPO) on August 2, 2024, raising $300 million through the sale of 30 million units at $10 per unit. An additional $45 million was raised through the exercise of the over-allotment option by underwriters.
• Private Placement: Conducted a private placement of 759,000 units to its sponsor simultaneously with the IPO, generating $7.59 million. An additional 90,000 units were sold in a private placement following the exercise of the over-allotment option, raising $900,000.
• Trust Account: The proceeds from the IPO and private placements have been placed in a trust account totaling $346.725 million. These funds are intended to be used for completing an initial business combination.
• Operational Status: As of September 30, 2024, the company has not commenced any operations and will not generate operating revenues until after completing a business combination.
• Future Outlook: The company has until August 2, 2026, to complete a business combination. If unsuccessful, it will cease operations and liquidate. The management is focused on identifying and evaluating potential business combination targets.

SEC Filing: AA Mission Acquisition Corp. Releases Q3 2024 [ NYSE:AAM ] - 10-Q - Nov. 13, 2024