Amanat Acquisition Corp. completed its IPO in May 2026, pricing 7.5 million shares at $10 each and raising $75 million in gross proceeds. The company also completed a private placement of 300,000 shares to its sponsor. The proceeds are held in a trust account pending a business combination. The company reported a net loss for the quarter ended March 31, 2026.

• Amanat Acquisition Corp. consummated its initial public offering on May 20, 2026, pricing 7.5 million Class A ordinary shares at $10 each, generating gross proceeds of $75 million [N1].
• Simultaneously with the IPO, the company completed a private placement of 300,000 Class A ordinary shares to Amanat Sponsor Holdings LLC at $10 per share, generating $3 million in gross proceeds [S1].
• Proceeds from the IPO and private placement totaling $75 million, net of underwriters' deferred fees, were deposited in a trust account for the benefit of public shareholders [S1].
• The company reported a net loss of $59,901 for the quarter ended March 31, 2026, with current liabilities of $137,893 and no disclosed current assets or cash equivalents, resulting in a cash ratio of zero [S1].
• Risk factors disclosed in the company’s final prospectus for the IPO remain unchanged as of the latest 10-Q filing [S1].

The company’s successful IPO and capital raise provide a foundation for pursuing a business combination. The trust account structure protects public shareholders’ capital until a business combination is completed. The company’s sponsor and management team may leverage their expertise and networks to identify attractive acquisition targets, potentially creating value through a successful merger or acquisition.

The company currently has no operating business or revenue, and reported a net loss in its initial quarter. The absence of disclosed assets or cash equivalents outside the trust account and the limited financial history increase uncertainty. Failure to complete a business combination within the prescribed timeframe could lead to liquidation and redemption of shares, limiting shareholder returns. The company’s future performance is highly dependent on the success of its initial business combination, which carries execution and market risks.

As a newly formed special purpose acquisition company, Amanat Acquisition Corp. does not currently possess a competitive moat. Its value proposition depends on identifying and completing a business combination with a target company. The company’s moat will be determined by the quality and strategic fit of the business combination it completes, as well as its ability to execute post-combination integration and growth.

• Business Combination Risk: The company must complete a business combination within 24 months of the IPO or face liquidation and redemption of public shares, which could result in loss of investment.
• Limited Operating History: As a newly formed SPAC, the company has no operating history or revenue, increasing uncertainty about future performance.
• Financial Uncertainty: The company reported a net loss and has no disclosed current assets or cash equivalents outside the trust account, which may impact liquidity and operations.
• Dependence on Sponsor and Management: The company’s ability to identify and complete a successful business combination depends on the expertise and efforts of its sponsor and management team.

• Amanat Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company (SPAC).
• The company completed its initial public offering (IPO) on May 20, 2026, pricing 7.5 million Class A ordinary shares at $10.00 per share, raising gross proceeds of $75 million.
• Simultaneously with the IPO, the company completed a private placement of 300,000 Class A ordinary shares to its sponsor at $10.00 per share, generating $3 million in gross proceeds.
• Proceeds from the IPO and private placement totaling $75 million, net of underwriters' deferred fees, were placed in a U.S.-based trust account for the benefit of public shareholders.
• The company has a 45-day over-allotment option to sell up to 1,125,000 additional shares at the IPO price, less underwriting discounts and commissions.
• As of March 31, 2026, the company reported a net loss of $59,901 for the quarter ending that date.
• Current liabilities as of March 31, 2026, were $137,893, with no disclosed current assets or cash and equivalents, resulting in a cash ratio of zero.
• The company is an emerging growth company and has filed amended and restated memorandum and articles of association effective May 18, 2026.
• The company’s funds in the trust account are restricted and will not be released until the earlier of completion of an initial business combination, redemption of public shares if no business combination occurs within 24 months, or certain shareholder-approved amendments.
• Risk factors disclosed in the company’s final prospectus for the IPO remain unchanged as of the latest 10-Q filing.
• The company’s business model is that of a blank check company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities.