---
title: "TEXAS VENTURES ACQUISITION III CORP C/WTS 23/04/2030 (TO PUR COM) | 10-K: FY2025 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282901566.md"
datetime: "2026-04-15T21:27:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282901566.md)
  - [en](https://longbridge.com/en/news/282901566.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282901566.md)
---

# TEXAS VENTURES ACQUISITION III CORP C/WTS 23/04/2030 (TO PUR COM) | 10-K: FY2025 Revenue: USD 0

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

EPS: As of FY2025, the actual value is USD 0.26.

EBIT: As of FY2025, the actual value is USD -7.079 M.

The Company, Texas Ventures Acquisition III Corp, operates as a blank check company with no traditional operating segments or revenue generation until the completion of a business combination, thus financial metrics reflect overall company performance.

#### Operational Metrics

-   **Net Income (Loss)**:
    -   Net income for the year ended December 31, 2025, was $5,926,421.
    -   Net loss for the period from July 26, 2024 (inception) through December 31, 2024, was - $44,737.
-   **General and Administrative Expenses**:
    -   General and administrative expenses for the year ended December 31, 2025, totaled $718,934.
    -   For the period from July 26, 2024 (inception) through December 31, 2024, general and administrative expenses were $44,737.

#### Non-Operating Income (Year Ended December 31, 2025)

-   Interest income earned on investments held in the trust account was $6,335,533.
-   Interest income earned on cash held in the operating account was $24,082.
-   The Company recognized a forgiveness of debt amounting to $28,614.
-   A realized gain on NMSI Warrants was recorded at $257,126.

#### Cash Flow and Liquidity

-   Cash at December 31, 2025, was $856,131.
-   Working capital at December 31, 2025, stood at $724,779.
-   Investments held in the trust account at December 31, 2025, amounted to $232,460,533.
-   Deferred underwriting commissions were $9,000,000.

#### Unique Metrics

-   **IPO Proceeds**: The Company completed its Initial Public Offering on April 24, 2025, generating gross proceeds of $225,000,000 from the sale of 22,500,000 units.
-   **Private Placement Warrants Proceeds**: A private sale of 7,568,750 warrants concurrently with the IPO generated gross proceeds of $7,568,750.
-   **Trust Account Funding**: Net proceeds of $226,125,000 from the IPO and private placement were placed into a Trust Account.
-   **Sponsor Change**: On September 18, 2025, a New Sponsor acquired 7,500,000 Class B Ordinary Shares and 4,700,000 Private Placement Warrants from the Prior Sponsor for an aggregate of $7,400,000.

#### Outlook / Guidance

The Company is in discussions with Trump Media & Technology Group Corp. (TMTG) regarding a potential business combination involving Truth Social, though no definitive agreement has been reached. The Company anticipates incurring significant costs for acquisition plans, and its current liquidity combined with a mandatory liquidation timeline raises substantial doubt about its ability to continue as a going concern.

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