Korea No.13 SPAC 2026 Q1 Report: ~8 Months Left to Merge, No Material Changes

SPAC with sole purpose of merger. Listed on KOSDAQ in Nov 2023.
As of Q1 2026: Total assets KRW 10.3B, liabilities KRW 1.57B (incl. CB), equity KRW 8.73B.
Net income KRW 11.1M (EPS KRW 3), no operating revenue. 100% of IPO funds deposited with Korea Securities Finance.
Merger deadline: Within 36 months from IPO payment date (Nov 9, 2023), i.e., by Nov 2026. ~8 months remaining.
Related party transactions: CB interest expense KRW 16.3M (slight increase).
No merger target identified; no ongoing merger process. Dissolution provisions exist.
All regulatory conditions met (exemption from collective investment rules, sponsor requirements).
No shareholder returns (buyback, dividends, etc.). Dividend info omitted in quarterly report.
No changes in executive compensation.

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