Samsung SPAC XII Files Q1 2026 Quarterly Report... Normal Pre-Merger Operations

The company is a SPAC with the sole purpose of merging with another company
Listed on KOSDAQ on November 28, 2025
As of March 31, 2026: total assets KRW 14.92 billion, total liabilities KRW 2.23 billion, total equity KRW 12.70 billion
Net profit for the quarter: KRW 48.68 million (interest income minus expenses)
IPO proceeds of KRW 12 billion fully deposited with KB Kookmin Bank, restricted from withdrawal until merger
Convertible bonds of KRW 2.42 billion issued (face value KRW 1,000, conversion price KRW 1,000), convertible into 2,420,000 shares
No merger target determined yet (merger deadline: 36 months from IPO payment date per articles)
Promoters include Samsung Securities (equity capital KRW 7.32 trillion), meeting SPAC requirements
No dividend policy (no dividends until merger)
No operating revenue; operating expenses KRW 19.64 million (professional fees)