Ribbon Acquisition Corp - Unit | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EBIT: As of FY2025 Q3, the actual value is USD -989.57 K.

Ribbon Acquisition Corporation has not generated any operating revenues as of September 30, 2025, as the company is a blank check company focused on effecting a business combination.

For the three months ended September 30, 2025, the company reported a net income of $62,142, which consisted of operating expenses of $463,712 and income earned on marketable securities held in the Trust Account of $525,854.
For the nine months ended September 30, 2025, the company reported a net income of $569,295, which consisted of operating expenses of $892,007 and income earned on marketable securities held in the Trust Account of $1,461,302.

Net cash used in operating activities for the nine months ended September 30, 2025, was - $637,983.
Net cash used in investing activities was - $50,000,000, primarily due to the purchase of marketable securities held in the Trust Account.
Net cash provided by financing activities was $50,697,892, which included proceeds from the sale of public units through public offerings and private placements.

The company completed its IPO on January 16, 2025, raising $50,000,000 through the sale of 5,000,000 units at $10.00 per unit.
Simultaneously, the company raised $2,200,000 through the sale of 220,000 private placement units at $10.00 per unit.

Ribbon Acquisition Corporation aims to effectuate its initial business combination using cash from the IPO proceeds, private placement, and other potential financing methods.
The company has entered into a Business Combination Agreement with DRC Medicine Inc., which involves a series of transactions including a share exchange and merger, with the goal of DRC Medicine becoming a wholly-owned subsidiary of PubCo.

The company has not engaged in any operations or generated revenues to date, and its activities have been limited to organizational tasks and efforts to consummate the IPO and identify a target for a business combination.

The company has until January 16, 2026, to complete the initial business combination, failing which it will trigger an automatic winding up, dissolution, and liquidation.
Management has determined that these conditions raise substantial doubt about the company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the company is required to liquidate.