SK Securities No.12 SPAC Q1 2026 Report: Normal Operations, Merger Ongoing

Net profit for Q1 (2026.01.01~2026.03.31): KRW 1.18 million, EPS KRW 0.4 (vs KRW 15.7 million in same period last year)
Total assets: KRW 8,128 million (vs KRW 8,099 million at end of previous year), total liabilities: KRW 1,559 million (convertible bonds KRW 1,523 million), total equity: KRW 6,569 million
Cash and cash equivalents: KRW 1,792 million; short-term financial products (trust deposits): KRW 6,169 million (100% held in trust for merger)
Convertible bonds: KRW 1,690 million (conversion price KRW 1,000, convertible into 1,690,000 shares), maturity 2027.11.24
Outstanding shares: 3,310,000; capital stock: KRW 331 million; additional paid-in capital: KRW 5,858 million
Major shareholders: AIP Venture Partners (9.1%), SK Securities (0.3%), etc.
No merger target selected yet; required to complete merger registration within 36 months (ongoing before deadline)
No dividends, no share buybacks/cancellations