KB No.32 SPAC Reports Q1 2026 Net Profit of 42M KRW, Continues Search for Merger Target

KB No.32 SPAC submitted its quarterly report for Q1 2026.
Net profit for the quarter was 42 million KRW (compared to net loss of 4 million KRW in the previous quarter).
Cash and cash equivalents and short-term financial products total approximately 14.5 billion KRW (including deposits).
Convertible bonds outstanding amount to approximately 2.0 billion KRW (face value 2.27 billion KRW, conversion price 1,000 KRW/share).
No merger target has been identified yet; the 36-month deadline for completing a merger remains in effect.
Restrictions exist on voting rights of pre-IPO shareholders in merger approval meetings.
No dividends, no share buyback or cancellation.