---
title: "FINNOVATE ACQUISITION CORP C/WTS 30/09/2026 (TO PUR COM) | 10-K: FY2024 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/243277354.md"
datetime: "2025-06-05T12:17:56.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/243277354.md)
  - [en](https://longbridge.com/en/news/243277354.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/243277354.md)
generator: "portal-rs"
---

# FINNOVATE ACQUISITION CORP C/WTS 30/09/2026 (TO PUR COM) | 10-K: FY2024 Revenue: USD 0

Revenue: As of FY2024, the actual value is USD 0.

EPS: As of FY2024, the actual value is USD -0.03.

EBIT: As of FY2024, the actual value is USD -1.622 M.

### Segment Revenue

-   The company has not generated any operating revenues as of December 31, 2024, and does not expect to generate operating revenues until the consummation of its initial Business Combination.

### Operational Metrics

-   Net loss for the year ended December 31, 2024, was $215,486, compared to a net income of $2,494,909 for the year ended December 31, 2023.
-   Formation, general, and administrative expenses for the year ended December 31, 2024, were $1,622,093, compared to $1,993,129 for the year ended December 31, 2023.

### Cash Flow

-   Net cash used in operating activities for the year ended December 31, 2024, was $877,915.
-   Net cash provided by investing activities for the year ended December 31, 2024, was $42,397,606, primarily driven by cash withdrawn from the Trust Account in connection with redemptions.
-   Net cash used in financing activities for the year ended December 31, 2024, was $41,518,959, primarily due to redemption payments.

### Unique Metrics

-   As of December 31, 2024, the company had $10,208,877 in investments held in the Trust Account, which are invested in an interest-bearing demand deposit account.

### Outlook / Guidance

-   The company has until November 8, 2025, to complete its initial Business Combination, unless extended by shareholders’ approval.
-   If unable to complete the Business Combination within the specified period, the company will cease operations and liquidate.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**