Mirae Asset Vision SPAC 4 Q1 2026 Report: Pre-Merger Normal Operations

SPAC (Special Purpose Acquisition Company) Q1 2026 quarterly report filed. Normal operations ongoing before merger.
Total assets KRW 17.52 billion (prior year-end KRW 17.33 billion). Main assets: short-term financial products (including deposits with Korea Securities Finance) KRW 17.16 billion.
Total liabilities KRW 2.12 billion (prior year-end KRW 2.04 billion). Main liability: 1st unregistered private convertible bonds KRW 2.25 billion (carrying value KRW 1.99 billion).
Total equity KRW 15.40 billion. Shares outstanding: 8.1 million (par value KRW 100). Share capital KRW 0.81 billion, paid-in surplus KRW 14.06 billion, retained earnings KRW 0.53 billion.
Net profit for the quarter KRW 47.17 million (prior quarter KRW 77.55 million). Operating loss KRW 20.29 million, financial income KRW 101.57 million, financial cost KRW 20.80 million.
Profit before tax KRW 60.48 million, income tax expense KRW 13.31 million, effective tax rate 22.0%.
Required to complete merger within 36 months from initial subscription payment date (May 29, 2024) per articles. Currently selecting target company.
Pre-IPO shareholders have restricted voting rights and no appraisal rights under shareholders' agreement.
No dividends paid. Borrowing and debt securities issuance prohibited.
Largest shareholder: TS Investment Co., Ltd. (9.88%). Related parties hold convertible bonds.