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Bleichroeder Acquisition Corp. I (BACQ-0.08%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that Bleichroeder Acquisition Corp. I is a blank check company incorporated for the purpose of effecting a Business Combination. The company has not yet selected a Business Combination target and has not engaged in any substantive discussions with potential targets.
The company completed its Initial Public Offering on November 4, 2024, raising $250,000,000 through the sale of 25,000,000 units at $10.00 per unit. Each unit consists of one Class A ordinary share and one right to receive one-tenth of a Class A ordinary share upon the consummation of an initial Business Combination.
Simultaneously with the closing of the Initial Public Offering, Bleichroeder Acquisition Corp. I completed a private placement of 425,000 units to its sponsor, generating an additional $4,250,000.
As of December 31, 2024, the company held $251,756,198 in a trust account, which will be used to complete a Business Combination. The company has until November 4, 2026, to complete a Business Combination or it will be required to liquidate.
The filing details the company's management team, led by Co-Founders Michel Combes and Andrew Gundlach, who have extensive experience in the technology sector.
The company's strategy focuses on identifying Business Combination opportunities within the technology, media, and telecommunications sectors, as well as sectors undergoing technological transformation.
Bleichroeder Acquisition Corp. I has outlined certain investment criteria, including a focus on businesses with strong management teams, defensible market positions, and the potential for growth and profitability.
The company is subject to various risks, including the potential inability to complete a Business Combination within the specified timeframe, competition from other acquisition companies, and market volatility.
The filing also notes that the company has no long-term debt, capital lease obligations, or operating lease obligations as of December 31, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bleichroeder Acquisition Corp. I annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.