American Drive Acquisition Co SEC 10-Q Report

American Drive Acquisition Co, a blank check company incorporated in the Cayman Islands, has released its Form 10-Q report for the quarter ending September 30, 2025. The report provides insights into the company's financial performance and operational status as it prepares for its Initial Public Offering (IPO) and future business combinations. Financial Highlights Net Loss: $(31,329). The company reported a net loss primarily due to general and administrative costs.Basic and diluted net loss per Class B ordinary share: $(0.01). This reflects the net loss allocated to each Class B ordinary share. Business Highlights Company Overview: American Drive Acquisition Company is a blank check company incorporated in the Cayman Islands on July 15, 2025, with the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.Operational Status: As of September 30, 2025, the company has not commenced any operations. All activities during the period from July 15, 2025 (inception) through September 30, 2025, were related to the company's formation and preparation for the Initial Public Offering.Business Focus: The company intends to focus on American companies in the defense, logistics, transportation, technology, and AI sectors for its initial business combination.Initial Public Offering: The registration statement for the company's Initial Public Offering became effective on December 17, 2025, and the company consummated the offering on December 19, 2025, raising gross proceeds of $230,000,000.Future Outlook: The company expects to continue incurring significant costs in pursuit of its acquisition plans and does not anticipate generating operating revenues until after the completion of its business combination.Segment Information: The company operates as a single segment, with the Chief Financial Officer reviewing the operating results for the company as a whole to make decisions about resource allocation and financial performance.Liquidity and Capital Resources: The company's liquidity needs up to September 30, 2025, were satisfied through a loan under an unsecured promissory note from the Sponsor. The company had $1,873 in cash and a working capital deficit of $129,065 as of September 30, 2025.Management's Discussion: The management team is focused on identifying and evaluating target businesses, performing due diligence, and structuring a business combination. The company intends to use funds held outside the trust account primarily for these purposes.Commitments and Contingencies: The company has engaged Farvahar Capital LLC for capital markets advisory services in connection with the Initial Public Offering, with fees offset from underwriting fees.Risks and Uncertainties: The company acknowledges potential impacts from geopolitical instability, such as the Russia-Ukraine conflict and the Israel-Hamas conflict, which could affect its search for a business combination and any target business.SEC Filing: American Drive Acquisition Co [ ADACU ] - 10-Q - Jan. 30, 2026