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Charlton Aria Acquisition Corporation (CHAR0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's status as a blank check company, incorporated in the Cayman Islands, with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination.
Charlton Aria Acquisition Corporation completed its initial public offering on October 25, 2024, raising $75,000,000 through the sale of 7,500,000 units at $10.00 per unit. Each unit consists of one Class A ordinary share and one right to receive one-eighth of one Class A ordinary share upon completion of an initial business combination.
The company also completed a private placement of 240,000 units to its sponsor, generating additional proceeds of $2,400,000.
Funds from the IPO and private placement are held in a trust account, intended to be used for the company's initial business combination. The company has until April 25, 2026, to complete this business combination, with the possibility of two three-month extensions, contingent upon additional deposits into the trust account.
The company reported a net income of $266,838 for the period from inception to December 31, 2024. This includes dividend income from investments held in the trust account.
Charlton Aria Acquisition Corporation has not yet identified a target for its initial business combination and has no revenue to date.
The company acknowledges potential risks and uncertainties, including those related to geopolitical events and their potential impact on the ability to consummate a business combination.
Management has identified a material weakness in internal controls due to inadequate segregation of duties and insufficient written policies and procedures. Plans are in place to address these issues.
Charlton Aria Acquisition Corporation's executive offices are located in Wilmington, Delaware, and it is listed on the Nasdaq Global Market under the symbols 'CHARU,' 'CHAR,' and 'CHARR.'
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Charlton Aria Acquisition Corporation annual 10-K report dated March 24, 2025. To report an error, please email earnings@qz.com.