Oak Woods Acquisition Corp SEC 10-Q Report

Oak Woods Acquisition Corp, a blank check company formed for the purpose of entering into a merger or similar business combination, has released its Form 10-Q report for the quarter ending June 30, 2025. The report provides a detailed overview of the company's financial performance and operational status, shedding light on its ongoing efforts to complete a business combination. Financial Highlights Net Loss for the three months ended June 30, 2025: $100,648, primarily resulted from formation and operating costs of $532,920, partially offset by interest income of $430,564 on investments held in the Trust Account and a downward change in fair value of warrant liabilities of $1,700.Net Loss for the six months ended June 30, 2025: $148,435, resulted from operating expenses of $1,083,815, partially offset by interest income of $45 on the operating account, interest income of $928,635 on investments held in the trust account and a downward change in fair value of warrant liabilities of $6,700.Net Loss for the three months ended June 30, 2024: $191,805, resulted from operating expenses of $984,711 and an upward change in fair value of warrant liabilities of $1,720, partially offset by interest income of $845 on the operating account and interest income of $793,781 on investments held in the trust account.Net Loss for the six months ended June 30, 2024: $48,301, resulted from operating expenses of $1,633,383, partially offset by interest income of $5,053 on the operating account, interest income of $1,579,709 on investments held in the trust account and a downward change in fair value of warrant liabilities of $320. Business Highlights Business Overview: The company is a blank check company formed for the purpose of entering into a merger, stock exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses.Merger Agreement: On August 11, 2023, the company entered into a Merger Agreement with Oak Woods Merger Sub, Inc., Huajin (China) Holdings Limited, and Xuehong Li, with the intention of merging Merger Sub with and into Huajin, making Huajin a wholly-owned subsidiary.Operational Status: As of June 30, 2025, the company had not commenced any operations except those related to the prospective merger. The company will not generate any operating revenues until after the completion of a business combination.Recent Developments: The company has been actively working on extending the time available to complete a business combination through shareholder-approved extensions and deposits into the Trust Account.Future Outlook: The company intends to use the funds held in the Trust Account to complete an initial business combination and may use capital stock or debt as consideration. The company is focused on completing the business combination within the extended timeframe.Board Composition: Post-merger, the board of directors will consist of five directors, with three designated by Oak Woods and two by Huajin.Operational Challenges: The company faces significant professional costs to remain publicly traded and transaction costs in pursuit of a business combination. There is substantial doubt about the company's ability to continue as a going concern if additional capital is not raised.SEC Filing: Oak Woods Acquisition Corp [ OAKU ] - 10-Q - Jan. 08, 2026