<span item_type="fundamental" item_id="903c8afc87eda871b49acd9862adfaaf" counter_id="ST/US/AC" env="prod"></span><span item_type="announcement" item_id="546549187709699969" env="prod"></span><p>Revenue: As of FY2025 Q2, the actual value is USD 2.207 M.</p><p>EPS: As of FY2025 Q2, the actual value is USD 0.88.</p><p></p><h3>Segment Revenue</h3><ul><li>Total revenues for the second quarter of 2025 were $2.2 million, compared to $2.6 million in the second quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>Net income for the second quarter of 2025 was $18.6 million, a significant increase from $3.0 million in the same period of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li><li>Operating loss before management fee for the second quarter of 2025 was - $5.2 million, compared to - $3.2 million in the second quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li><li>Total operating expenses, excluding management fee, were $7.4 million in the second quarter of 2025, up from $5.8 million in the second quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>The report does not provide specific figures for operating cash flow or free cash flow.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>Assets Under Management (AUM) at the end of the second quarter of 2025 were $1.34 billion, up from $1.27 billion at the end of March 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li><li>Book value per share was $43.30 at the end of the second quarter of 2025, compared to $42.51 at the end of March 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>The company expects vibrant M&amp;A activity over the balance of the year, supported by a more accommodative antitrust environment and pent-up demand from acquirers. Recent regulatory shifts in the U.S. and abroad are anticipated to provide a more favorable environment for merger arbitrage investing.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1642122/000143774925025092/ex_820468.htm"></span></li></ul>

Assoc Cap | 8-K: FY2025 Q2 Revenue: USD 2.207 M