SK Securities No.13 SPAC Q1 Report: Assets 10.1B Won, Net Profit 10.4M Won, No Merger Target

SK Securities No.13 SPAC's sole business purpose is to merge with another company. As of the report, no merger target identified or negotiations underway.
Total assets: 10.107 billion won (cash 1.726 billion, short-term financial instruments 8.218 billion); total liabilities: 1.459 billion won (convertible bonds 1.426 billion); equity: 8.647 billion won. Net debt is negative (surplus cash).
Q1 2026: Operating revenue 0, operating expenses 15.6 million won (salaries 4.5 million, fees 11.1 million), financial income 48.9 million won (interest), income tax 1.28 million, net profit 10.36 million won, basic EPS 2 won.
First unsecured private convertible bonds (face value 1.58 billion won, conversion price 1,000 won) carrying amount 1.426 billion won. Conversion period 2024.1.8~2027.12.7. Underwritten by SK Securities etc., restricted conversion and disposal post-merger for certain period.
All IPO proceeds (8 billion won) deposited/trusted with KB Kookmin Bank, cannot be withdrawn before merger completion. If merger not completed within 36 months from subscription payment date, dissolution and distribution of deposited funds to shareholders.
All 9 requirements for exemption from collective investment business are met. No dividends. No disqualifications for outside director and auditor.