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Iron Horse Acquisitions Corp (IROH0.00%). 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 $465,533 for the three months ended September 30, 2024, primarily due to interest earned on marketable securities held in the Trust Account.
The company reported a working capital deficit of $1,448,015 as of September 30, 2024, with cash outside the Trust Account amounting to $3,084.
The filing details the company's ongoing efforts to complete a business combination, including a Business Combination Agreement with Rosey Sea Holdings Limited, which involves acquiring Zhong Guo Liang Tou Group Limited.
The company has until December 29, 2024, to consummate a business combination, with the possibility of extending this period to June 29, 2025, subject to certain conditions.
Iron Horse Acquisitions Corp. acknowledges substantial doubt about its ability to continue as a going concern due to its current liquidity position and the mandatory liquidation date.
The company has invested $71,697,384 in U.S. Treasury Bills held in the Trust Account, with plans to use these funds to complete a business combination.
The report also discusses the potential impact of geopolitical events and the Inflation Reduction Act of 2022 on the company's operations and financial position.
The company has not engaged in any significant operations or generated revenues to date, focusing instead on identifying a target for a business combination.
Iron Horse Acquisitions Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Iron Horse Acquisitions Corp. quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.