INFQHIGH SIGNALOPERATIONAL10-Q
INFQ has progressed from formation-stage to active deal execution, establishing merger subsidiaries and advancing toward a definitive business combination with ColdQuanta, Inc.
This represents a critical milestone for the SPAC as it transitions from the target identification phase to concrete M&A execution, with dedicated legal entities now in place to consummate the transaction. The formation of merger subsidiaries in September 2025 signals that due diligence has likely concluded and the company is moving toward closing its initial business combination, which is essential for avoiding liquidation and delivering returns to investors.
Comparing 2025-11-12 vs 2025-08-13View on EDGAR →
LANGUAGE CHANGES
NEW — 2025-11-12
PRIOR — 2025-08-13
ADDED
At December 31, 2024, included an aggregate of up to 1,350,000 Class B Ordinary Shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (Note 5).
The Company was incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses that the Company, as of its incorporation, had not yet identified (the Business Combination ).
The Company has two direct wholly owned subsidiaries, AH Merger Sub I, Inc.
( Merger Sub I ), a Delaware corporation and AH Merger Sub II, LLC, a Delaware limited liability company ( Merger Sub II , and collectively with Merger Sub I , the Merger Subs ).
The Merger Subs were formed on September 2, 2025 for the sole purposes of effecting the ColdQuanta, Inc.
As of September 30, 2025, the Company had not yet commenced operations.
All activity for the period from January 4, 2024 (inception) through September 30, 2025 related to the Company s formation, Initial Public Offering and activities in connection with entering into the Merger Agreement (as defined below) (see Note 6).
Merger Agreement On September 8, 2025, the Company entered into an Agreement and Plan of Merger and Reorganization (the Merger Agreement ) by and among Merger Sub I, Merger Sub II and ColdQuanta, Inc., a Delaware corporation ( ColdQuanta ).
The transactions contemplated by the Merger Agreement, including the PIPE Investment, are referred to as the Transactions.
In connection with the execution of the Merger Agreement, on September 8, 2025, the Company amended and restated that certain letter agreement, dated May 13, 2025, from the Sponsor and each of the persons undersigned thereto to the Company (the Amended and Restated Sponsor Agreement ).
REMOVED
(2) On February 15, 2024, the Sponsor acquired an aggregate of 7,187,500 F ounder S hares for approximately $ 0.003 per share.
The Company was incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses that the Company has not yet identified (the Business Combination ).
As of June 30, 2025, the Company had not yet commenced operations.
All activity for the period from January 4, 2024 (inception) through June 30, 2025 related to the Company s formation, the initial public offering ( Initial Public Offering ), which is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination.
Liquidity and Capital Resources As of June 30, 2025, the Company had $ 1,232,392 of cash and a working capital surplus of $ 1,530,433 .
For the three and six months ended June 30, 2025, the Company has not withdrawn any amounts from the Trust Account for working capital purposes.
In connection with the Company s assessment of going concern considerations in accordance with ASC 205-40, Going Concern, as of June 30, 2025, the Company has sufficient funds for the working capital needs of the Company until a minimum of one year from the date of issuance of these financial statements.
The Company had cash of $1,232,392 and $0 as of June 30, 2025 and December 31, 2024, respectively.
Treasury and equivalent securities as held-to-maturity in accordance with Accounting Standards Codification ( ASC ) Topic 320 Investments Debt and Equity Securities, held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity.
For the three and six months ended June 30, 2025, the Company has not withdrawn any amounts from the Trust Account for working capital purposes.
MORE OPERATIONAL SIGNALS
ANALYZE ANY FILING FREE
See what changed in your portfolio's filings
500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.
Try Tracenotes free →