---
title: "Texas Ventures Acquisition III | 10-K: FY2025 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282901622.md"
datetime: "2026-04-15T21:27:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282901622.md)
  - [en](https://longbridge.com/en/news/282901622.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282901622.md)
---

# Texas Ventures Acquisition III | 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.

Texas Ventures Acquisition III Corp is a blank check company with no operational revenue to date, focusing on identifying and completing a business combination.

#### Operational Metrics

-   **Net Income (Loss)**: For the year ended December 31, 2025, the company reported a net income of $5,926,421. This contrasts with a net loss of - $44,737 for the period from July 26, 2024 (inception) through December 31, 2024.
-   **General and Administrative Expenses**: Expenses amounted to $718,934 for the year ended December 31, 2025, an increase from $44,737 for the period from July 26, 2024 (inception) through December 31, 2024.

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

-   Interest earned on investments held in the Trust Account was $6,335,533.
-   Interest earned on cash held in operating accounts totaled $24,082.
-   Forgiveness of debt amounted to $28,614.
-   A realized gain on NMSI warrants was $257,126.

#### Liquidity and Capital Resources (as of December 31, 2025)

-   **Cash**: The company held $856,131 in cash.
-   **Working Capital**: Working capital was $724,779.
-   **Trust Account**: $226,125,000 ($10.05 per Unit) was placed in the Trust Account following the Initial Public Offering and Private Placement.
-   **Offering Costs**: Total offering costs were $14,006,902, which included $4,500,000 in cash underwriting fees, $9,000,000 in deferred underwriting fees, and $506,902 in other offering costs.
-   **Promissory Note**: The promissory note from a related party was fully repaid in connection with the Initial Public Offering, with no outstanding amount as of December 31, 2025.

#### Outlook / Guidance

The company is currently engaged in ongoing discussions with Trump Media & Technology Group Corp. (TMTG) regarding a potential business combination with SpinCo, an entity to be formed from a spin-off of certain TMTG businesses, including Truth Social. There is no definitive agreement, and discussions are ongoing without assurance of a resulting transaction or its terms and timing. The company’s current liquidity and proximity to mandatory liquidation raise substantial doubt about its ability to continue as a going concern, unless it can raise additional funds or complete a business combination by October 25, 2026.

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