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Tavia Acquisition Corp. (TAVI-0.10%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's status as 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.
Tavia Acquisition Corp. completed its initial public offering on December 5, 2024, raising $115 million through the sale of 11,500,000 units at $10.00 per unit. Each unit consists of one ordinary share and one right, with ten rights entitling the holder to one ordinary share upon completion of the business combination.
The company has not yet selected a target for its business combination and is currently in the process of identifying and evaluating potential acquisition opportunities.
As of December 31, 2024, Tavia Acquisition Corp. had $115.9 million in marketable securities held in a trust account and $913,659 in cash available for operational purposes.
The company reported a net income of $79,518 for the period from its inception on March 7, 2024, through December 31, 2024, primarily due to interest income on the funds held in the trust account.
Tavia Acquisition Corp. has 18 months from the closing of its initial public offering to complete a business combination, or it will liquidate and return the funds in the trust account to its public shareholders.
The company's management team, led by Chairman and CEO Kanat Mynzhanov, is focused on identifying target businesses in North America and Europe, particularly those involved in energy transition, the circular economy, and food technologies.
The filing also notes that the company is an emerging growth company and a smaller reporting company, which allows it to take advantage of certain reduced reporting requirements under the JOBS Act.
Tavia Acquisition Corp. is subject to various risks, including the potential inability to complete a business combination within the specified timeframe, competition for attractive targets, and market volatility.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Tavia Acquisition Corp. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.