Cactus Acquisition Corp. Reports Q3 2025 Financial Results with Net Loss of $359,000

Cactus Acquisition Corp. 1 Limited reported its financial results for the third quarter of 2025, revealing a net loss of $359,000 for the nine months ended September 30, 2025, compared to a net loss of $306,000 for the same period in 2024. The company generated interest income of $283,000 from marketable securities held in its trust account, a decrease from $840,000 in the previous year. Operating expenses for the nine-month period were $542,000, down from $936,000 in 2024, while financial expenses also decreased to $100,000 from $210,000. The basic and diluted earnings per Class A ordinary share subject to possible redemption improved to $0.58 from $0.30 year-over-year.

The company’s total assets as of September 30, 2025, amounted to $9.3 million, a slight increase from $9.2 million at the end of 2024. Cash held in the trust account rose to $9.3 million from $9.0 million, while total current liabilities decreased to $2.8 million from $2.3 million. The capital deficiency increased to $2.7 million from $2.1 million, primarily due to the accretion of Class A common stock subject to redemption. The weighted average of Class A ordinary shares subject to possible redemption was 763,592, a significant decrease from 1,912,371 in the prior year.

Strategically, Cactus Acquisition Corp. has shifted its focus from technology-based healthcare businesses in Israel to emerging technology companies globally, particularly in the energy renewables sector. This change follows the transfer of 80% of the original sponsor's equity to a second sponsor, EVGI Ltd., in February 2024. The company is actively pursuing a business combination target and has entered into a Business Combination Agreement with Tembo e-LV B.V., which is expected to enhance its market position.

Operationally, the company has maintained a consistent number of shares outstanding, with 3,162,499 Class A ordinary shares and one Class B ordinary share issued. The company’s cash and cash equivalents at the end of the reporting period were $9.3 million, down from $22.2 million a year earlier, reflecting its ongoing operational expenses and strategic investments. The company continues to explore opportunities for geographic expansion and product adoption in the renewable energy sector.

Looking ahead, Cactus Acquisition Corp. remains focused on completing its business combination with Tembo e-LV B.V. and anticipates that this merger will provide significant benefits, including improved financial and operational performance. The company is also preparing for the necessary shareholder and regulatory approvals required to finalize the transaction. As it navigates these developments, Cactus Acquisition Corp. is committed to enhancing shareholder value and expanding its market presence in the evolving technology landscape.