SPEGRMEDIUM SIGNALREGULATORY10-Q

SPEGR changed its jurisdiction of incorporation from Delaware to the Cayman Islands and clarified its status as a pre-revenue SPAC still seeking its initial business combination.

The redomiciliation to the Cayman Islands represents a structural change that may affect shareholder rights and regulatory oversight compared to Delaware incorporation. The company remains in the target-seeking phase with no commenced operations since inception in June 2024, maintaining the typical timeline pressure that SPACs face to complete a business combination.

Comparing 2025-11-14 vs 2025-08-25View on EDGAR →
FINANCIAL ANALYSIS

The balance sheet shows a meaningful reduction in current liabilities, declining from $234K to $107K, suggesting improved short-term financial positioning. This decrease in current obligations reflects typical SPAC cash management as the company operates with minimal ongoing liabilities while searching for acquisition targets. Overall, the financial position remains consistent with a newly public SPAC maintaining its trust account structure.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
-54.4%
$234K→$107K

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2025-11-14
PRIOR — 2025-08-25
ADDED
(Exact Name of Registrant as Specified in Its Charter) Cayman Islands 98-1795957 (State or other jurisdiction of incorporation or organization) (I.R.S.
See definitions of large accelerated filer , accelerated filer , smaller reporting company , and emerging growth company in Rule 12b-2 of the Exchange Act.
As of September 30, 2025, the Company had not commenced any operations.
All activity for the period from June 5, 2024 (inception) through September 30, 2025 relates to the Company s formation, the Initial Public Offering (as defined below), and subsequent to the Initial Public Offering, identifying a target company for a Business Combination.
The Company will provide the Company s public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder vote by means of a tender offer.
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REMOVED
(Exact Name of Registrant as Specified in Its Charter) Delaware 98-1795957 (State or other jurisdiction of incorporation or organization) (I.R.S.
See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act.
On July 16, 2025, the Company consummated its Initial Public Offering and sold 11,500,000 Units, including 1,500,000 Units sold pursuant to the full exercise of the underwriters option to purchase additional units to cover the over-allotment, hence the 500,000 shares of Class B ordinary shares were no longer subject to forfeiture.
The accompanying notes are an integral part of the unaudited condensed financial statements.
On July 16, 2025, the Company consummated its Initial Public Offering and sold 11,500,000 Units, including 1,500,000 Units sold pursuant to the full exercise of the underwriters option to purchase additional units to cover the over-allotment, hence the 500,000 shares of Class B ordinary shares were no longer subject to forfeiture.
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