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Cohen Circle Acquisition Corp. I (CCIRU+1.60%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports the company's financial position, showing a net loss of $15,431 for the three months ended September 30, 2024, and a net loss of $50,086 for the nine months ended September 30, 2024.
The company completed its initial public offering on October 15, 2024, raising gross proceeds of $230,000,000 through the sale of 23,000,000 units at $10.00 per unit.
Simultaneously with the IPO, Cohen Circle Sponsor I, LLC and Cantor Fitzgerald & Co. purchased 715,000 placement units for $7,150,000 in a private placement.
Following the IPO and the private placement, $231,150,000 was placed in a trust account, intended to be used for a future business combination.
The company incurred transaction costs of $14,373,989, including underwriting fees and other offering costs.
The company is a blank check company formed for the purpose of effecting a merger or similar business combination with one or more businesses.
As of September 30, 2024, the company had not commenced any operations and does not expect to generate operating revenues until after completing a business combination.
The company has a 24-month period from the IPO closing date to complete a business combination, failing which it will redeem public shares and dissolve.
The company reported having 23,715,000 Class A ordinary shares and 7,905,000 Class B ordinary shares issued and outstanding as of November 14, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cohen Circle Acquisition Corp. I Unit quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.