SK Growth Opportunities Corporation, a shell company incorporated on December 8, 2021, reported its financial performance for the period ending September 30, 2024. The company has not yet commenced operations, focusing primarily on its Initial Public Offering (IPO) and the pursuit of a business combination.

As of September 30, 2024, SK Growth Opportunities had total assets of $114.5 million, an increase from $109.9 million at the end of 2023. Current assets rose significantly to $649,199, up from $373,468, with cash holdings increasing to $621,449 from $163,718. However, total current liabilities surged to $7.8 million from $1.7 million, contributing to a total liabilities increase to $20.3 million from $14.3 million. The accumulated deficit also widened to $(15.9 million) from $(13.8 million) over the same period.

The company reported other income of $1.5 million for the three months ended September 30, 2024, down from $2.9 million in the same period of 2023. For the nine-month period, other income decreased to $4.3 million from $7.6 million year-over-year. Net income for the three months ended September 30, 2024, was approximately $1.1 million, a decline from $1.9 million in the prior year. For the nine months, net income fell to $2.2 million from $6.1 million in 2023.

In terms of share structure, as of September 30, 2024, there were 9,732,960 Class A ordinary shares and 5,240,000 Class B ordinary shares outstanding. The company has extended its deadline to complete a business combination to March 31, 2025. During the reporting period, shareholders redeemed 10,903,403 Class A shares at approximately $10.88 per share, totaling about $118.6 million, and an additional 323,637 shares at $11.32 per share, amounting to approximately $3.7 million.

The company has engaged in various financing activities, including the issuance of unsecured convertible promissory notes to the Sponsor, totaling $1.72 million as of September 30, 2024. These notes are intended to fund ongoing operating expenses and do not bear interest, maturing upon the closing of the initial business combination.

Management has expressed substantial doubt regarding the company's ability to continue as a going concern within one year from the issuance of the financial statements, emphasizing the need for a successful business combination to address this uncertainty.