Miluna Acquisition Corp announced a planned combination with CADV Ventures S.A. to become a publicly listed company.

• Miluna Acquisition Corp announced a planned combination with CADV Ventures S.A. to become a publicly listed company, as reported on April 27, 2026 [N1].

The company benefits from a management team with decades of collective experience in mergers and acquisitions and operating companies, which may enhance its ability to identify and execute a successful business combination. The announced combination with CADV Ventures S.A. represents a concrete step toward completing its business purpose. The company’s strong liquidity position, with a current ratio of 4.26, supports operational flexibility during the acquisition process.

Miluna Acquisition Corp has not yet completed its initial business combination, and there is inherent uncertainty and competition in sourcing suitable targets. The company’s officers and directors may face conflicts of interest in evaluating potential acquisitions. The SPAC’s limited operating history and lack of disclosed revenue or operational data beyond the trust account and net income figures constrain visibility into its business prospects. Failure to complete a business combination within the prescribed timeframe would result in liquidation and return of funds to shareholders.

As a blank check company, Miluna Acquisition Corp's competitive advantage lies primarily in its experienced management team and their extensive network of relationships across corporate executives, private equity, venture capital, investment banking, and consulting firms. This network is intended to facilitate sourcing and executing a business combination with a target company. However, the company faces significant competition in identifying and completing such combinations, and there is no assurance of successful completion. The SPAC structure itself does not confer a moat in terms of proprietary technology or market position.

• Business Combination Risk: There is no assurance that the company will successfully complete a business combination within the required timeframe, which could result in liquidation.
• Competition for Targets: The company faces significant competition in identifying and executing a business combination, which may impact acquisition terms and opportunities.
• Conflicts of Interest: Officers and directors may have conflicts of interest when evaluating business combinations, potentially affecting decision-making.
• Limited Operating History: As a blank check company, Miluna Acquisition Corp has no operating history or revenue-generating business prior to a business combination.

• Miluna Acquisition Corp is a blank check company incorporated as a Cayman Islands exempted company formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses.
• The company has not selected any business combination target as of the latest 10-K filing dated 2026-02-12.
• The company will not pursue a prospective target company based in or having majority operations in the People's Republic of China (PRC).
• Miluna Acquisition Corp completed its initial public offering (IPO) on October 24, 2025, issuing 6,000,000 units at $10.00 per unit, raising gross proceeds of $60 million.
• The company also completed private placements to its sponsor and exercised an over-allotment option, resulting in total gross proceeds of approximately $69 million placed in a trust account invested in U.S. government treasury bills or money market funds.
• The company’s ordinary shares and warrants began separate trading on Nasdaq under symbols MMTX and MMTXW respectively as of December 15, 2025.
• The management team has extensive experience in mergers and acquisitions and operating companies, leveraging a network of corporate executives, private equity, venture and growth capital funds, investment banking firms, and consultants to source and support business combination targets.
• The company intends to acquire a target business with a fair market value of at least 80% of the trust account balance at the time of signing a definitive agreement, with a deadline of 18 months from the IPO closing, extendable to 21 months under certain conditions.
• The company’s officers and directors may have conflicts of interest in evaluating business combinations, and there is significant competition in identifying and executing a business combination.
• The company announced a planned combination with CADV Ventures S.A. to become a publicly listed company, as reported on April 27, 2026.
• As of June 30, 2026, the company reported current assets of $209,091 and current liabilities of $49,084, resulting in a current ratio of 4.26, indicating liquidity.
• The company reported net income of $93,409 for the quarter ended June 30, 2026.
• Basic and diluted earnings per share were reported as -$0.01 for the quarter ended September 30, 2025.
• Financial figures are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice.