In This Story
Breeze Holdings Acquisition Corp. (BRZH) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net income of $2,189,744 for the three months ended September 30, 2024, compared to a net loss of $1,076,594 in the same period the previous year.
Operating costs for the three months ended September 30, 2024, were $260,084, while interest income on the Trust Account was $135,536.
The company reported a gain of $2,302,250 from the change in fair value of warrant liabilities for the three months ended September 30, 2024.
For the nine months ended September 30, 2024, Breeze Holdings reported a net loss of $2,722,429, compared to a net loss of $3,241,155 for the same period in 2023.
The company had cash held in the Trust Account of $10,578,352 as of September 30, 2024, with interest income of $476,103 for the nine months ended September 30, 2024.
As of September 30, 2024, Breeze Holdings had a working capital deficit of $9,819,425, excluding prepaid income taxes, prepaid franchise taxes, and excise tax payable.
The company continues to seek a business combination and has extended the deadline for completing a business combination several times, with the current deadline set for December 26, 2024.
Breeze Holdings has entered into various agreements related to its business combination efforts, including a Merger Agreement with YD Biopharma Limited.
The company acknowledges substantial doubt about its ability to continue as a going concern if it does not complete a business combination within the prescribed timeline.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Breeze Holdings Acquisition Corp. quarterly 10-Q report dated December 6, 2024. To report an error, please email earnings@qz.com.