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Plum Acquisition Corp. IV (PLMK+0.10%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that Plum Acquisition Corp. IV is a blank check company incorporated in the Cayman Islands, with 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 January 16, 2025, raising $172,500,000 through the sale of 17,250,000 units at $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
Simultaneously with the IPO, Plum Acquisition Corp. IV conducted a private placement of 672,875 units, generating additional gross proceeds of $6,728,750.
As of December 31, 2024, the company reported a net loss of $91,980, primarily due to formation and operating costs.
The company has placed $174,225,000 in a trust account, which will be used to fund a business combination or returned to shareholders if no combination is completed within 18 months from the IPO closing date.
Plum Acquisition Corp. IV's management has broad discretion with respect to the specific application of the net proceeds of the IPO and private placement, although the primary intention is to apply these funds toward completing a business combination.
The company faces risks related to its status as a blank check company, including the ability to complete a business combination within the specified timeframe and the potential impact of geopolitical events on its operations.
Plum Acquisition Corp. IV is classified as an emerging growth company and a smaller reporting company, which allows it to take advantage of certain exemptions from various reporting requirements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Plum Acquisition Corp. IV annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.