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Black Hawk Acquisition Corporation (BKHA-0.57%) has filed its annual report on Form 10-K for the fiscal year ended November 30, 2024 filing.
The filing details the company's financial position, showing total assets of $72,143,335 and total liabilities of $2,485,978 as of November 30, 2024. The company reported a net income of $1,915,703 for the year.
The company completed its initial public offering (IPO) on March 22, 2024, raising $69,000,000 through the sale of 6,900,000 units at $10.00 per unit. Simultaneously, the company raised $2,355,000 through the private placement of 235,500 units.
Proceeds from the IPO and private placement were placed in a trust account, which held $71,829,264 as of November 30, 2024. The funds are intended to be used for a business combination.
The company has until June 22, 2025, to complete a business combination, with the possibility of extending this period by up to six months.
Black Hawk Acquisition Corporation is a blank check company, incorporated in the Cayman Islands, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The company has not identified any specific business combination target and has not initiated any substantive discussions with any business combination target.
The company is led by CEO and Chairman Kent Louis Kaufman and COO Jonathan Ginsberg, with a board of directors including Brandon Miller, Daniel M. McCabe, and Terry W. Protto.
The company faces the risk of not completing a business combination within the specified time frame, which would require it to cease operations and redeem public shares.
The filing outlines the company's strategy to leverage its management team's experience to identify and acquire a target business that can benefit from being publicly traded.
The company is classified as an emerging growth company and a smaller reporting company, which allows it to take advantage of reduced reporting requirements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Black Hawk Acquisition Corporation annual 10-K report dated February 7, 2025. To report an error, please email earnings@qz.com.