Cactus Acquisition Corp. Reports Increased Net Loss and Interest Income for Six Months Ending June 30, 2026

Cactus Acquisition Corp. 1 Limited reported its financial results for the six months ending June 30, 2026, revealing a net loss of $286,000, compared to a net loss of $160,000 for the same period in 2025. The company generated interest income of $11.2 million from marketable securities held in its trust account, a significant increase from $6.9 million in the prior year. Operating expenses decreased to $196,000 from $286,000, while financial expenses rose to $101,000 from $62,000. The weighted average of Class A ordinary shares subject to possible redemption was 52,239 shares, consistent with the previous year.

In terms of balance sheet performance, total assets as of June 30, 2026, amounted to $789.7 million, a slight increase from $789.0 million at the end of 2025. Cash and cash equivalents were reported at $131,000, while cash held in the trust account was $652.6 million, unchanged from the previous reporting period. The company’s accumulated deficit increased to $3.3 million from $3.0 million at the end of 2025, reflecting ongoing operational losses.

Cactus Acquisition Corp. has made strategic moves to extend its business combination period to November 2, 2026, allowing more time to finalize its initial business combination. The company is currently in discussions regarding a potential merger with Tembo e-LV B.V., as outlined in a Business Combination Agreement signed on August 29, 2024. This strategic direction aims to enhance the company’s market position and operational capabilities.

Operationally, the company has maintained a consistent headcount, with 3,162,500 shares outstanding, including 3,162,499 Class A ordinary shares and one Class B ordinary share. The company’s engagement metrics indicate a stable interest in its public shares, with no significant fluctuations in customer counts or user statistics reported during the period. The company continues to monitor market conditions and adjust its strategies accordingly to optimize performance.

Looking ahead, Cactus Acquisition Corp. remains focused on successfully completing its business combination with Tembo e-LV B.V. The company anticipates that this merger will provide significant benefits, including improved financial and operational performance. However, management acknowledges the inherent risks and uncertainties associated with the transaction, including the need for shareholder and regulatory approvals. The company is committed to navigating these challenges while pursuing its growth objectives in the evolving market landscape.