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Voyager Acquisition Corp (VACHW0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports that Voyager 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 $253 million through the sale of 25,300,000 units, including the exercise of the underwriters' over-allotment option.
Simultaneously, a private placement of 7,665,000 warrants was completed, generating additional proceeds of $7,665,000.
Proceeds from the IPO and private placement were placed in a trust account totaling $254,265,000, intended to be used for a future business combination.
Voyager Acquisition Corp reported a net income of $1,321,694 for the three months ended September 30, 2024, primarily due to interest income from investments held in the trust account.
The filing indicates that the company has not yet commenced operations and will not generate operating revenues until the completion of a business combination.
The company has a working capital surplus of $754,945 as of September 30, 2024, and management believes it has sufficient funds for its working capital needs for at least one year from the date of the report.
Voyager Acquisition Corp is classified as a non-accelerated filer, smaller reporting company, and emerging growth company under SEC regulations.
The filing outlines various risks and uncertainties that could impact the company's ability to complete a business combination, including economic conditions and regulatory changes.
Voyager Acquisition Corp has not identified any potential targets for a business combination and has not engaged in any substantive discussions with potential targets as of the filing date.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Voyager Acquisition Corp Warrants quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.