In This Story
Bold Eagle Acquisition Corp. (BEAG-0.59%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that Bold Eagle Acquisition Corp. is a blank check company, incorporated in the Cayman Islands, with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The company completed its initial public offering on October 25, 2024, raising $250,000,000 through the sale of 25,000,000 units at $10.00 per unit.
An additional $8,000,000 was raised through the partial exercise of the underwriters' over-allotment option, resulting in the issuance of 800,000 additional units.
Simultaneously, Bold Eagle completed a private sale of 358,000 shares to its sponsor, generating gross proceeds of $3,580,000.
As of December 31, 2024, the company held $260,033,862 in a trust account, intended to fund a future business combination.
The company reported a net income of $2,043,928 for the fiscal year ended December 31, 2024, primarily due to interest income and a gain on the change in fair value of its over-allotment option liability.
Bold Eagle Acquisition Corp. has not yet selected a target for its initial business combination and has not engaged in any operations or generated any revenue to date.
The management team, led by Co-Chairmen Harry E. Sloan and Jeff Sagansky, along with CEO Eli Baker, has extensive experience in special purpose acquisition companies and strategic investments.
The company is subject to various risks, including competition for business combination opportunities, the ability to complete a business combination within the specified time frame, and potential conflicts of interest involving its management team.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bold Eagle Acquisition Corp. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.