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Alchemy Investments Acquisition Corp 1 (ALCY) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The company is a blank check company formed for the purpose of completing a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
Alchemy Investments Acquisition Corp 1 has not engaged in any operations or generated any revenue to date. The company plans to focus on deep technology with a focus on data analytics for its initial business combination.
On May 9, 2023, the company completed its initial public offering, raising gross proceeds of $115 million. The proceeds are held in a trust account and will be used to fund a business combination.
As of December 31, 2024, the company had $181,174 in cash outside of the trust account and a working capital deficit of $1,583,237. The company has until September 9, 2025, to complete its initial business combination.
The company reported a net income of $4,247,564 for the year ended December 31, 2024, primarily due to interest income earned on the trust account.
Alchemy Investments Acquisition Corp 1 has identified a number of potential target businesses for its initial business combination, but no definitive agreements have been reached.
The company has extended the date by which it must complete a business combination to September 9, 2025, by placing additional funds into the trust account.
The company’s management team is led by Steven M. Wasserman, Mattia Tomba, and Vittorio Savoia, who have experience in equity investments, finance, and business operations.
Alchemy Investments Acquisition Corp 1 acknowledges the risks associated with its business, including the potential inability to complete a business combination within the specified time frame and the dependence on market conditions for financing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Alchemy Investments Acquisition Corp 1 annual 10-K report dated April 3, 2025. To report an error, please email earnings@qz.com.