Cactus Acquisition Corp. 1 Ltd reported a net loss of $(559K) for the year ended Dec. 31, 2025, an improvement from a $(1,312K) net loss in 2024 as operating activity remained limited ahead of a planned business combination.
Financial Highlights
- Net income: $(559K) net loss for year ended Dec. 31, 2025, improved from $(1,312K) net loss in 2024 (loss narrowed by $753K YoY).
- Revenue: No operating revenues reported for FY 2025 or FY 2024 (company has not generated operating revenues to date).
Business Highlights
- Business combination progress: The company is executing a proposed merger with Tembo. A Form F-4 was submitted to the SEC and is being revised after comments, with resubmission targeted for H2 2026.
- Operational focus: Activities during the period centered on due diligence, regulatory filings, and preparation of the Form F-4 to consummate the initial business combination.
- Revenue timing: The company has not generated operating revenues to date and expects revenue generation only after closing the initial business combination.
- Liquidity: Pre-combination operating funds have been provided via sponsor and third-party loans, including a recent $300K promissory funding to support activities before the combination closes.
Original SEC Filing:
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