DB Finance No.13 SPAC Q1 2026 Results: No Merger Progress Yet, Financials Stable, IPO Funds Fully Deposited

DB Finance No.13 SPAC is a KOSDAQ-listed SPAC whose sole purpose is to merge with another company; as of Q1 2026, no merger target has been identified.
As of March 31, 2026: total assets KRW 14.62bn, total liabilities KRW 1.85bn, equity KRW 12.77bn; net profit of KRW 68.2m for the quarter (interest income).
The entire IPO proceeds of KRW 12bn are deposited in a trust account at KB Kookmin Bank and cannot be withdrawn until the merger is completed.
Founders (DB Securities, JB Woori Capital, Lapis Investment, Rooftop Partners) are restricted from voting on the merger and from exercising appraisal rights; their shares are subject to lock-up periods.
According to the articles of incorporation, the merger must be completed within 36 months from listing (by November 2027); otherwise, the company will be dissolved and the deposited funds distributed to shareholders.