Meshflow Acquisition Corp, a special purpose acquisition company (SPAC) formed in mid-2025, reported in its May 2026 quarterly update that it holds $345 million in IPO proceeds within a Trust Account and has maintained a strong liquidity position with over $1 million in current assets outside the Trust Account. The company has yet to complete a business combination but is actively focused on targeting blockchain infrastructure firms with significant technical credibility. Its experienced leadership team, led by CEO Bartosz Lipinski with deep crypto infrastructure roots, forms the primary moat pre-acquisition. The SPAC’s 24-month timeframe to consummate an acquisition underpins a critical timeline risk, balanced with growth potential from executing its focused acquisition strategy.