OBAWUMEDIUM SIGNALFINANCIAL10-Q

OBAWU completed its IPO process in Q3 2025 and executed a share capitalization that increased founder shares to 6.3 million, with current assets declining modestly to $1.2M.

As a newly public SPAC, OBAWU has transitioned from formation phase to active business combination search mode following its June 2025 IPO. The share capitalization and over-allotment provisions indicate standard SPAC structuring designed to align sponsor incentives with successful deal completion.

Comparing 2025-11-13 vs 2025-08-13View on EDGAR →
FINANCIAL ANALYSIS

The company's current assets declined moderately from $1.4M to $1.2M, reflecting typical early-stage SPAC cash management as the entity transitions from IPO proceeds management to operational search activities. The 14% decrease in current assets suggests controlled cash utilization during the business combination search phase, which is consistent with standard SPAC operating patterns in the months following public listing.

FINANCIAL STATEMENT CHANGES
Current Assets
Balance Sheet
-14.3%
$1.4M→$1.2M

Current assets declined 14.3% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2025-11-13
PRIOR — 2025-08-13
ADDED
oba-20250930 http://fasb.org/srt/2025#ChiefFinancialOfficerMember 98-0181002 0002034313 false Q3 --12-31 In May 2025, the Company effected a share capitalization pursuant to which the Company issued an additional 575,000 Founder Shares resulting in an aggregate of 6,325,000 Founder Shares outstanding to the Sponsor.
All shares and associated amounts have been retroactively restated to reflect the share capitalization (Note 5 and 7).
All shares and associated amounts have been retroactively restated to reflect the share capitalization (Note 5 and 7).
(2) Includes up to 825,000 Class B Ordinary Shares subject to forfeiture if the Over-Allotment Option was not exercised in full or in part by the Underwriters (Note 7).
The accompanying notes are an integral part of these unaudited condensed financial statements.
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REMOVED
1 Condensed Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 (Audited) 1 Unaudited Condensed Statements of Operations for the Three and Six Months Ended June 30, 2025 2 Unaudited Condensed Statements of Changes in Shareholders Deficit for the Three and Six Months Ended June 30, 2025 3 Unaudited Condensed Statement of Cash Flows for the Six Months Ended June 30, 2025 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.
4 OXLEY BRIDGE ACQUISITION LIMITED NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS JUNE 30, 2025 Note 1 Description of Organization, Business Operations and Liquidity and Capital Resources Oxley Bridge Acquisition Limited (the Company ) is a blank check company incorporated as a Cayman Islands exempted company on August 6, 2024.
As of June 30, 2025, the Company has not commenced any operations.
All activity for the period from August 6, 2024 (inception) through June 30, 2025 relates to the Company s formation and the Initial Public Offering (as defined below), and following the Initial Public Offering, the search for an initial Business Combination.
333-287816), was declared effective on June24, 2025 (the IPO Registration Statement ).
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