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Indigo Acquisition Corp. has successfully raised substantial capital through its IPO and private placements, providing a strong financial foundation for pursuing a business combination. The company’s management has flexibility to target a wide range of industries and geographies, focusing on established and profitable businesses with growth potential. The trust account structure ensures capital preservation until deployment. The Sponsor’s affiliation with experienced officers and directors may facilitate access to proprietary deal flow and enhance the likelihood of identifying attractive acquisition opportunities.

The company currently has no operating revenues and depends entirely on completing a business combination to generate future value. There is uncertainty regarding the timing, nature, and success of any business combination. The company faces substantial doubt about its ability to continue as a going concern without completing a business combination or raising additional capital by April 2027. The lack of business diversification post-combination may expose the company to risks associated with a single industry or business. Management’s assessment of target businesses and their management may not be accurate, and additional financing may not be available on acceptable terms.

As a blank check company, Indigo Acquisition Corp. does not currently possess a competitive moat. Its value proposition depends on the ability of its management and Sponsor to identify and consummate a business combination with a suitable target company. The company’s moat will be determined post-business combination based on the acquired entity’s market position, competitive advantages, and operational performance. Until then, the company’s moat is limited to its capital-raising capability and the reputation and expertise of its management team and Sponsor.

• Business Combination Uncertainty: The company’s success depends on identifying and completing a suitable business combination. Failure to do so by April 2, 2027, will result in mandatory liquidation and dissolution.
• Lack of Operating History: Indigo Acquisition Corp. has no operating revenues or business operations to date, limiting visibility into its future performance.
• Liquidity and Going Concern: The company’s liquidity condition raises substantial doubt about its ability to continue as a going concern without completing a business combination or raising additional capital.
• Dependence on Sponsor and Management: The company’s ability to identify and consummate a business combination depends on the expertise and efforts of its Sponsor and management team, whose future involvement post-combination is uncertain.
• Potential Need for Additional Financing: If the purchase price of the business combination exceeds available trust account funds, the company may need to raise additional capital, which may not be available on acceptable terms.
• Lack of Business Diversification: Post-business combination, the company may be dependent on a single business or industry, exposing it to economic, competitive, and regulatory risks specific to that sector.

• Indigo Acquisition Corp. is a blank check company incorporated on June 7, 2024, in the Cayman Islands for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.
• The company completed its initial public offering (IPO) on July 2, 2025, issuing 10,000,000 units at $10.00 per unit, raising gross proceeds of $100 million.
• Simultaneously, the company completed a private placement of 350,000 units to its Sponsor and EBC Holdings, Inc., raising $3.5 million.
• An over-allotment option was exercised on July 11, 2025, resulting in the sale of an additional 1,500,000 units and 30,000 private placement units, generating additional gross proceeds of $15.3 million.
• Proceeds from the IPO and private placements totaling approximately $115 million were deposited into a trust account invested in U.S. government securities or money market funds.
• The company has not generated any operating revenues to date and does not expect to do so until it consummates its initial business combination.
• The company intends to use cash held in the trust account, proceeds from private financings, and equity as consideration for its initial business combination.
• The company is not limited to any specific industry or geographic location for its target business but focuses on established, profitable companies with attractive market positions or growth potential.
• The company has incurred formation and operating costs since inception, with net losses from operations reported in interim periods.
• As of December 31, 2025, the company had current assets of $760,128 and current liabilities of $84,042, resulting in a current ratio of 9.04, indicating strong short-term liquidity.
• The company reported net income of $1,822,212 for the fiscal year ended December 31, 2025, primarily due to interest income earned on marketable securities held in the trust account.
• The company has ordinary shares subject to possible redemption totaling 11,500,000 shares with a redemption value of approximately $116 million as of September 30, 2025.
• The company’s management and sponsor are affiliated entities, with founder shares held by the Sponsor and directors.
• The company’s board of directors will determine the fair market value of the initial business combination using accepted financial valuation methods or obtain an independent opinion if necessary.
• The company may seek additional financing through private offerings or loans to complete its initial business combination if the purchase price exceeds available trust account funds.
• If the company does not complete a business combination by the end of the combination period (currently April 2, 2027), it will be required to liquidate and dissolve.
• The company has no off-balance sheet arrangements and no long-term debt, but it has a monthly office and administrative fee obligation of $10,000 until the earlier of business combination or liquidation.
• The company’s chief financial officer is the chief operating decision maker and reviews the company as a single operating segment.
• The company’s financial statements comply with US GAAP and include share-based compensation expenses and accretion of shares subject to redemption.
• The company’s liquidity condition as of September 30, 2025, raises substantial doubt about its ability to continue as a going concern without completing a business combination or raising additional capital.