Shinhan 12th SPAC Reports Q1 2026 Results: No Merger Target Yet, Stable Financials

Quarterly report for Q1 2026 of Shinhan 12th SPAC; no specific merger target confirmed yet, search ongoing.
Net profit of 76.6 million KRW (up from 36.3 million KRW in prior quarter), EPS 14 KRW.
Total assets 12.85 billion KRW (12.80 billion at year-end), liabilities 1.82 billion (1.84 billion), equity 11.03 billion (10.96 billion).
100% of IPO proceeds (10 billion KRW) deposited with KB Kookmin Bank, restricted from withdrawal until merger completion.
Convertible bonds (1.98 billion KRW) and locked-up shares (520,000 shares) terms unchanged.
If merger not completed within 36 months of IPO (by 2027), company will dissolve and distribute escrow funds.

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