SPAC Quarterly Report: No Merger Target Identified, Stable Financial Position

SPAC (IBKS No.24) has not identified a merger target; must complete merger within 36 months from IPO.
Total assets: 10.24B won, equity: 8.66B won, net profit: 23.5M won (interest income).
IPO proceeds (8B won) fully held in trust with Kookmin Bank, restricted from use.
Convertible bonds: face value 1.77B won, conversion price 1,000 won, maturity 2028.
Operating funds of 2B won (from CB & share issuance) available for expenses; trust account unaffected.