M&A - Cactus Acquisition Corp. 1 Ltd

Form Type: 10-K

Filing Date: 2025-04-15

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225004835

Filing Summary: Cactus Acquisition Corp. 1 Ltd. is proceeding with a business combination with Tembo e-LV B.V., formalized through a Business Combination Agreement on August 29, 2024. The company's initial public offering (IPO) occurred on November 2, 2021. As of March 31, 2025, there are 3,926,061 Class A ordinary shares and 1 Class B ordinary share outstanding. The document discusses risks associated with their search for a business combination, including potential delays in closing and challenges in securing financing. Public shareholders have certain redemption rights that may affect the completion of potential business combinations. Furthermore, there are concerns regarding the company’s ability to continue as a going concern, with indications of potential liquidation if a business combination is not completed within defined periods. The company also mentions risks stemming from market competition for target acquisitions and external economic factors.