WLACWHIGH SIGNALRISK10-K

WLACW shows severe financial deterioration with current assets declining substantially and stockholders' equity deficit widening significantly while progressing toward a business combination with Boost Run.

The company's financial position has deteriorated markedly, with current assets falling by nearly 70% and the stockholders' equity deficit expanding to $4.9 million, indicating mounting operational burn and potential funding pressures. As a SPAC approaching its business combination deadline, these liquidity constraints create heightened execution risk for completing the announced Boost Run transaction.

Comparing 2026-02-19 vs 2025-03-27View on EDGAR →
FINANCIAL ANALYSIS

WLACW's balance sheet shows concerning deterioration across key metrics, with current assets declining substantially to just $455K while total liabilities grew modestly to $5.4M. The stockholders' equity deficit widened significantly to $4.9M, reflecting continued operational losses and cash burn. This financial profile suggests a SPAC under time pressure with diminishing resources to complete its business combination.

FINANCIAL STATEMENT CHANGES
Current Assets
Balance Sheet
-69.7%
$1.5M→$455K

Current assets declined 69.7% — monitor working capital adequacy and short-term liquidity.

Stockholders Equity
Balance Sheet
-68%
-$2.9M→-$4.9M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Total Liabilities
Balance Sheet
+18.8%
$4.5M→$5.4M

Liabilities increased 18.8% — monitor debt-to-equity ratio and interest coverage.

LANGUAGE CHANGES
NEW — 2026-02-19
PRIOR — 2025-03-27
ADDED
As of February 19, 2026, there were 12,650,000 Class A Ordinary Shares, par value $ 0.0001 per share, and 4,628,674 Class B Ordinary Shares, par value $ 0.0001 per share, of the registrant issued and outstanding.
67 SIGNATURES 70 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report (as defined below), including, without limitation, statements under Part II, Item 7.
These forward-looking statements can be identified by the use of forward-looking terminology, including the words believe, estimate, anticipate, expect, intend, plan, may, will, potential, project, predict, continue, should, could or would or, in each case, their negative or other variations or comparable terminology.
1 to the Business Combination Agreement, dated as of January 13, 2026, which we entered into with (i) Boost Run and (ii) Pubco; Boost Run Registration Statement are to the Registration Statement on Form S-4, which includes a proxy statement/prospectus, in connection with the Boost Run Business Combination, and which was initially filed by Pubco and Boost Run with the SEC on January 13, 2026, as amended from time to time (File No.
To date, our efforts have been limited to (i) organizational activities, (ii) activities related to our Initial Public Offering, and (iii) searching for and consummating a Business Combination, including the Boost Run Business Combination (as described below).
+7 more — sign up free →
REMOVED
The registrant s Units begin trading on The Nasdaq Stock Market LLC on November 8, 2024 and the registrant s Class A Ordinary Shares and Redeemable Warrants began trading on The Nasdaq Stock Market LLC on December 30, 2024.
Accordingly, there was no market value for the registrant s public securities as of the last business day of the second fiscal quarter of 2024.
The aggregate market value of the registrant s Class A Ordinary Shares, other than shares held by persons who may be deemed affiliates of the registrant, computed by reference to the closing price for the Class A Ordinary Shares on December 31, 2024, as reported on The Nasdaq Stock Market LLC, was $ 125,107,235 .
As of March 27, 2025, there were 12,650,000 Class A Ordinary Shares, par value $ 0.0001 per share, and 4,628,674 Class B Ordinary Shares, par value $ 0.0001 per share, of the registrant issued and outstanding.
43 SIGNATURES 45 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report (as defined below), including, without limitation, statements under Item 7.
+7 more — sign up free →
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 →