--- title: "PLUM ACQUISITION CORP. III C/WTS 31/03/2028 (TO PUR COM) | 10-K: FY2025 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/281426376.md" datetime: "2026-04-01T21:26:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281426376.md) - [en](https://longbridge.com/en/news/281426376.md) - [zh-HK](https://longbridge.com/zh-HK/news/281426376.md) --- # PLUM ACQUISITION CORP. III C/WTS 31/03/2028 (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 -0.88. EBIT: As of FY2025, the actual value is USD -2.969 M. Plum Acquisition Corp. III is a blank check company with no operating history or revenues to date, focusing on organizational efforts and identifying a business combination target. #### Operational Metrics - **Net Loss**: The company recorded a net loss of - $7,199,761 for the year ended December 31, 2025, which increased from a net loss of - $2,561,229 for the year ended December 31, 2024. - **Operating and Formation Costs**: These costs were $2,876,506 for the year ended December 31, 2025, a slight decrease from $3,023,383 for the year ended December 31, 2024. - **Loss on Change in Fair Value of Warrant Liabilities**: The loss increased to - $4,415,289 for the year ended December 31, 2025, from - $1,447,101 for the year ended December 31, 2024. - **Interest and Dividend Income**: Income from cash held in the Trust Account significantly decreased to $92,034 for the year ended December 31, 2025, from $1,909,255 for the year ended December 31, 2024. #### Cash Flow - **Net Cash Used in Operating Activities**: Plum Acquisition Corp. III used - $893,328 in operating activities for the year ended December 31, 2025, compared to - $929,169 for the year ended December 31, 2024. - **Net Cash Provided by Investing Activities**: Investing activities provided $25,223,678 for the year ended December 31, 2025, primarily due to cash withdrawn from the Trust Account for redemptions, a decrease from $133,585,935 for the year ended December 31, 2024. - **Net Cash Used in Financing Activities**: Financing activities used - $24,307,898 for the year ended December 31, 2025, mainly for payments to redeeming shareholders, a significant reduction from - $132,629,348 for the year ended December 31, 2024. #### Unique Metrics - **Cash Held Outside Trust Account**: As of December 31, 2025, the company held $49,870 in cash outside the Trust Account, an increase from $27,418 as of December 31, 2024. - **Cash Held in Trust Account**: The balance in the Trust Account was $494,421 as of December 31, 2025, a substantial decrease from $25,630,285 as of December 31, 2024. - **Current Liabilities**: Total current liabilities increased to $6,025,804 as of December 31, 2025, from $3,151,832 as of December 31, 2024. - **Promissory Note - Related Party**: The outstanding balance under the Sponsor Promissory Note and Second Sponsor Promissory Note was $2,124,867 as of December 31, 2025, up from $1,204,867 for the Sponsor Promissory Note as of December 31, 2024. - **Redemptions of Class A Ordinary Shares**: - July 2023: 13,532,591 shares were redeemed for approximately $140,838,808 (approx. $10.41/share). - January 2024: 12,433,210 shares were redeemed for approximately $134,059,215 (approx. $10.78/share). - January 2025: 2,132,366 shares were redeemed for approximately $23,975,464 (approx. $11.24/share). - July 2025: 109,347 shares were redeemed for approximately $1,252,434 (approx. $11.45/share). - December 2025: 24,136 shares elected to redeem for approximately $280,219 (approx. $11.61/share), contingent on business combination consummation. #### Outlook / Guidance Plum Acquisition Corp. III faces substantial doubt about its ability to continue as a going concern due to its working capital deficit and the July 30, 2026 deadline to complete an Initial Business Combination. The company anticipates incurring significant costs in pursuing a business combination and may require additional financing if current funds are insufficient. Should a business combination not be consummated by the deadline, the company will liquidate, resulting in public shareholders potentially receiving approximately $10.00 per share or less and warrants expiring worthless. ### Related Stocks - [PLMWF.US](https://longbridge.com/en/quote/PLMWF.US.md) ## Related News & Research - [Plum Acquisition III completes corporate move to British Columbia from Cayman Islands](https://longbridge.com/en/news/294557263.md) - [Zucchi auditor switch delays 2024 accounts approval after BDO resignation](https://longbridge.com/en/news/294545364.md) - [Landi Renzo delays FY2024-25 financial statements amid negotiated crisis settlement talks](https://longbridge.com/en/news/294536462.md) - [TXT Assioma completes 2024 tax voluntary disclosure, books EUR 5 million charge](https://longbridge.com/en/news/294100501.md) - [Banco Invex publishes 2025 sustainability report for XFRA trust F/4640](https://longbridge.com/en/news/294420276.md)