Cactus Acquisition Corp. 1 Ltd SEC 10-Q Report

Cactus Acquisition Corp. 1 Ltd, a company focused on merging with or acquiring businesses in the energy renewables sector, has released its Form 10-Q report for the third quarter of 2024. The report provides a detailed overview of the company's financial performance and key business activities during the period. Financial Highlights Net Loss for the Period: $(359) thousand, reflecting a decrease from the previous period's net loss of $(306) thousand, primarily due to reduced interest income and increased operating expenses.Basic and Diluted Earnings Per Class A Ordinary Share Subject to Possible Redemption: $0.58, an increase from $0.30 in the prior period, indicating improved earnings per share for redeemable shares.Basic and Diluted Income (Loss) Per Non-Redeemable Class A and Class B Ordinary Share: $(0.26), a decrease from $1.23 in the prior period, reflecting a loss per share for non-redeemable shares.Interest Earned on Marketable Securities Held in Trust Account: $283 thousand, a decrease from $840 thousand in the prior period, due to lower interest rates or reduced principal in the trust account.Operating Expenses: $(542) thousand, a decrease from $(936) thousand in the prior period, indicating a reduction in operating costs. Business Highlights Business Combination Agreement: On August 29, 2024, Cactus Acquisition Corp. 1 Ltd signed a Business Combination Agreement with Tembo e-LV B.V., a private company in the Netherlands. This agreement is part of the company's strategy to merge with or acquire businesses in the energy renewables sector.Geographical Focus Shift: Initially focused on technology-based healthcare businesses in Israel, the company shifted its focus to emerging technology companies globally, particularly in the energy renewables sector, following a change in sponsorship.Extension Amendments: The company has extended its mandatory liquidation date multiple times, with the latest extension moving it to November 2, 2026. This extension allows more time to complete a business combination.Delisting from Nasdaq: The company was delisted from Nasdaq due to not completing a business combination within the required timeframe. Trading of its securities commenced on the OTC market under the symbol CCTSFF.Future Outlook: The company intends to complete an initial business combination before the mandatory liquidation date. However, there is substantial doubt about its ability to continue as a going concern if it fails to secure additional financing or complete a business combination.Promissory Notes: The company has issued several promissory notes to fund its operations, including a recent note to Hali International Limited for $150,000, indicating ongoing efforts to secure necessary funding for operational needs.Operational Strategy: The company plans to use funds from its trust account, minus amounts paid to redeeming shareholders, to finance its initial business combination and subsequent operations of the target business.SEC Filing: Cactus Acquisition Corp. 1 Ltd [ CCTSF ] - 10-Q - Nov. 19, 2025