Hana 34 SPAC Files Q1 Report: No Merger Progress, Trust Funds Intact

Hana 34 SPAC (Special Purpose Acquisition Company) files its Q1 report for the 3rd fiscal year (Jan 1 – Mar 31, 2026).
As of Mar 31, 2026: total assets approx. KRW 10.125 billion, total liabilities approx. KRW 1.441 billion, equity approx. KRW 8.684 billion.
Entire IPO proceeds of KRW 8 billion are deposited in trust with Korea Securities Finance Corp., restricted from withdrawal before merger.
No operating revenue (SPAC nature); net profit of approx. KRW 21.15 million from financial income (interest) in the quarter.
Merger target not yet identified. Must complete merger within 36 months from IPO subscription date (Nov 2024); if not, dissolution and return of trust funds to public shareholders.
Founders (pre-IPO shareholders) cannot vote on merger resolution and are barred from exercising appraisal rights.
No share buybacks/cancellations or dividends planned.