Alchemy Investments Acquisition Corp 1, a blank check company incorporated in the Cayman Islands, reported a net loss of $1.1 million for the fiscal year ending December 31, 2025, compared to a net income of $4.2 million in the previous year. The loss was primarily attributed to increased operating and formation costs, which rose to approximately $1.4 million from $1.2 million in 2024. The company has not yet engaged in any business operations or generated revenue, as its activities have been focused on identifying potential targets for its initial business combination.
As of December 31, 2025, Alchemy Investments held $8.8 million in a trust account, down from $11.9 million the previous year. The decrease in trust account assets was largely due to shareholder redemptions, with 324,420 Class A ordinary shares redeemed in 2025, resulting in a reduction of approximately $3.8 million from the trust account. The company had a working capital deficit of $3.4 million and only $55,020 in cash available outside the trust account, raising concerns about its ability to continue as a going concern without successfully completing a business combination.
In a significant strategic development, Alchemy Investments entered into a business combination agreement with Cartiga, LLC on August 22, 2025. This agreement includes plans for the company to domesticate from the Cayman Islands to Delaware and complete the merger with Cartiga, which is expected to close in the first quarter of 2026, pending shareholder approval and other customary closing conditions. The company has until September 9, 2026, to complete this business combination, having received shareholder approval to extend the deadline.
The company’s management team, led by co-CEOs Mattia Tomba and Vittorio Savoia, has been actively seeking acquisition opportunities in the deep technology sector, particularly focusing on data analytics. The management team has extensive experience in investment management and deal negotiation, which they believe will facilitate the identification and execution of a successful business combination. However, the company has acknowledged that it faces significant competition from other entities with similar objectives, which may limit its ability to consummate an attractive deal.
Looking ahead, Alchemy Investments remains focused on completing its business combination with Cartiga. However, the company has expressed uncertainty regarding its ability to raise additional capital or secure necessary approvals, which could impact its liquidity and operational viability. The management team is actively working to address these challenges, but there is no assurance that the business combination will be completed or that the company will be able to continue its operations beyond the current fiscal year.
About Alchemy Investments Acquisition Corp 1
Alchemy Investments Acquisition Corp 1 is a Cayman Islands-based blank check company formed to complete a business combination, primarily targeting deep technology firms focused on data analytics. It seeks companies involved in acquiring, processing, and utilizing data across sectors like remote sensing, telecommunications, environmental monitoring, and data science. The company offers a public listing platform to facilitate capital access, growth, and liquidity for target businesses through mergers or acquisitions.
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