Shinhan 13th SPAC Q1 2026: Continued Operating Loss, No Merger Progress

As of March 31, 2026, total assets of 7.37 billion won, equity of 6.80 billion won, total liabilities of 0.57 billion won
No operating revenue for the quarter; operating loss of 9.7 million won, but net income of 23.0 million won due to financial income of 44.1 million won
All 6 billion won of IPO proceeds deposited with KB Kookmin Bank, with withdrawal restrictions until merger completion
Convertible bonds with carrying amount of 0.52 billion won, conversion price of 1,000 won, convertible into 580,000 shares