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Focus Impact BH3 Acquisition Company (BHAC) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's activities as a blank check company, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The company has not generated any operating revenues since its inception and reports a net loss of $5,274,560 for the year ended December 31, 2024. This loss includes operating costs and changes in the fair value of financial instruments.
Focus Impact BH3 Acquisition Company is in the process of completing a business combination with XCF Global Capital, Inc. The business combination is expected to close in the first half of 2025, subject to customary closing conditions.
The company has extended its termination date to April 7, 2025, with the possibility of further extensions by the board of directors until October 7, 2025.
The company has faced challenges, including a delisting notice from Nasdaq, resulting in its securities trading on the OTC Pink Marketplace.
Focus Impact BH3 Acquisition Company has engaged in various financial agreements and amendments to facilitate the business combination, including non-redemption agreements and a subscription agreement with Polar Multi-Strategy Master Fund.
The company acknowledges substantial doubt about its ability to continue as a going concern, dependent on the successful completion of the business combination with XCF Global Capital, Inc.
The annual report includes a detailed discussion of the company's financial condition, results of operations, and liquidity, along with the risks and uncertainties it faces in completing the business combination and continuing its operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Focus Impact BH3 Acquisition Company annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.