Kyobo 19 SPAC Reports Q1 2026 Net Profit of KRW 34M; Merger Process Not Yet Initiated

Net profit of KRW 34M in Q1 2026, EPS of KRW 6 (swing to profit from loss of KRW 28M in prior period)
Total assets of KRW 11.89B, mostly current assets (cash & cash equivalents KRW 1.8B, short-term financial instruments KRW 10B)
Total liabilities of KRW 1.43B, mainly Series 1 Convertible Bonds (face value KRW 1.6B, carrying amount KRW 1.39B)
100% of IPO proceeds deposited (specific money trust with KB Kookmin Bank)
Must complete merger within 36 months of listing (deadline: December 2028)
Pre-IPO shares (400K shares) and convertible bonds (1.6M shares) subject to 6-month lock-up post-merger
No merger target identified; articles specify focus industries (renewable energy, bio, 5G, etc.)