M&A - Spark I Acquisition Corp

Form Type: 10-K

Filing Date: 2025-03-21

Corporate Action: Acquisition

Type: New

Accession Number: 000141057825000411

Filing Summary: Spark I Acquisition Corp, a Cayman Islands exempted company, is focused on effecting a merger or similar combination with target businesses. The company had its IPO on October 11, 2023, consisting of 10 million Units, with each Unit comprising one Class A ordinary share and one-half of a redeemable warrant. The net proceeds of $100.5 million from the IPO are held in a trust account until the company completes its initial business combination or other specified conditions are met. The company is actively negotiating a binding business combination with Kneron Holding Corporation, a provider of AI solutions, having previously entered non-binding letters of intent with Kneron and another hospitality software business. The company aims to leverage its connections and experience in the SparkLabs ecosystem, which includes over 450 startups, focusing on late-stage technology companies, particularly in Asia, with enterprise valuations over $1 billion. The reporting period ended December 31, 2024, and as of March 17, 2025, there were 10,000,000 Class A shares and 6,422,078 Class B shares outstanding.

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