Plum Acquisition Corp IV, a blank check company incorporated in the Cayman Islands, has reported its financial performance for the fiscal year ending December 31, 2024, in its recent 10-K filing. The company generated no operating revenues during this period, reflecting its status as a newly formed entity focused on identifying a target for a business combination. The net loss for the period was $91,980, primarily attributed to formation and operating expenses. As of December 31, 2024, Plum Acquisition Corp IV had cash reserves of $3,864 and a working capital deficiency of $427,641.
On January 16, 2025, the company successfully completed its initial public offering (IPO), raising gross proceeds of $172.5 million from the sale of 17.25 million units at $10.00 each. This included the full exercise of the underwriters' over-allotment option. Additionally, the company raised $6.73 million through a private placement of units, bringing total gross proceeds to approximately $179.2 million. Following the IPO, $174.23 million was placed in a trust account, while $971,550 remained available for working capital purposes.
The filing also outlines the company's strategic direction, emphasizing its intent to pursue a business combination with a target company across various industries and geographic regions. The management team plans to leverage their expertise and relationships to identify suitable acquisition opportunities. However, the company faces significant competition from other entities with similar objectives, which may impact its ability to secure a desirable target. The management has indicated that they will continue to incur substantial costs in pursuit of these acquisition plans.
As of the filing date, Plum Acquisition Corp IV had not yet identified a specific target for its initial business combination. The company has until July 16, 2026, to complete this transaction, or it will be required to liquidate and return funds to shareholders. The filing highlights potential risks, including geopolitical tensions and market volatility, which could hinder the company's ability to complete a business combination. The management team remains optimistic about identifying a suitable target and executing a successful transaction, although they acknowledge the inherent uncertainties involved in the process.
About Plum Acquisition Corp, IV
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.