Recent news items are primarily market and sector-related and do not directly pertain to Xsolla SPAC 1’s business operations or developments.

• Thyssenkrupp Nucera won a hydrogen project in Spain, reflecting activity in the energy sector [N1].
• Natural gas prices gained due to attacks on key energy infrastructure in Iran [N2].
• CervoMed narrowed its cash runway as it prepares for multiple clinical milestones in 2026 [N3].
• HelloFresh reported a narrowed net loss for FY25 but warned on FY26 revenues and orders [N4].
• Ascendis Pharma reported positive Phase 2 trial results for TransCon HGH in Turner Syndrome [N5].
• KKR formed a $310 million partnership with PMI Electro to boost electric transport in India [N6].
• Hongkong and Shanghai Hotels swung to a FY25 profit [N7].
• Frontera Energy’s Q4 loss widened due to impairment charges and weak net sales [N8].

The company’s successful IPO and strong liquidity position provide a solid foundation for pursuing a business combination. The unchanged risk factors suggest stability in the regulatory and operational environment. The structure of units with warrants offers potential upside participation for investors post-acquisition.

As a SPAC, the company faces risks related to identifying and completing a suitable business combination within the required timeframe. The absence of disclosed operating revenues or detailed business operations increases uncertainty. Market conditions and regulatory changes could impact the company’s ability to execute its acquisition strategy.

As a SPAC, Xsolla SPAC 1’s moat is primarily based on its capital-raising capability and management’s ability to identify and complete a value-accretive business combination. The company itself does not operate a traditional business with products or services but serves as a vehicle for acquisition, which limits traditional competitive advantages or moats.

• Business Combination Risk: The company must complete a business combination within a specified timeframe or return capital to shareholders, which may limit strategic flexibility.
• Regulatory and Market Risks: Changes in securities regulations or adverse market conditions could affect the company’s ability to complete a business combination or impact shareholder value.
• Limited Operating History: As a SPAC, the company has no operating business, which creates uncertainty regarding future performance and value creation.

• Xsolla SPAC 1 is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands.
• The company completed its initial public offering (IPO) on January 30, 2026, issuing 20,000,000 units at $10.00 per unit, raising gross proceeds of $200 million.
• Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at $11.50 per share.
• Simultaneously with the IPO, the company completed a private placement of 400,000 units to Xsolla SPAC I LLC at $10.00 per unit, raising $4 million.
• The company’s Class A ordinary shares trade on the Nasdaq Stock Market under the ticker XSLL.
• As of June 30, 2026, the company reported current assets of $1,844,089 and current liabilities of $405,098, resulting in a current ratio of 4.55.
• The company reported net income of $1,655,116 for the quarter ended June 30, 2026.
• The company is classified as an emerging growth company and has not elected to use the extended transition period for new accounting standards.
• Risk factors disclosed in the company’s IPO prospectus remain unchanged as of the latest quarterly report.
• The company’s financial figures are summarized from the latest available SEC filings and are provided for informational purposes only, not financial advice.