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EQV Ventures Acquisition Corp. Class A (EQV+0.07%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing discloses that EQV Ventures Acquisition Corp. is a blank check company formed for 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 August 8, 2024, raising gross proceeds of $350 million through the sale of 35 million units at $10.00 per unit.
Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share.
As of December 31, 2024, the company held approximately $356.4 million in its trust account, which will be used to complete its initial business combination.
The company reported a net income of $6,856,423 for the period from April 15, 2024 (inception) through December 31, 2024, primarily due to interest income earned on the trust account.
EQV Ventures Acquisition Corp. is focused on identifying a target business in the energy industry, primarily targeting the upstream exploration and production sector.
The company has not yet selected a business combination target and intends to use the funds held in the trust account to complete a business combination.
The company's executive officers and directors have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if the company fails to complete a business combination within 24 months from the closing of the initial public offering.
EQV Ventures Acquisition Corp. has established an audit committee, a nominating committee, and a compensation committee to oversee various aspects of its operations and governance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the EQV Ventures Acquisition Corp. Class A annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.