Collective Acquisition Corp. Reports Net Income of $714,594 for Quarter Ending March 31, 2026

Collective Acquisition Corp., formerly known as Dune Acquisition Corporation II, reported its financial results for the quarter ending March 31, 2026, revealing a net income of $714,594, a significant turnaround from a net loss of $48,094 during the same period in 2025. The increase in profitability was primarily driven by interest income of $1,300,569 earned on marketable securities held in the Trust Account, which was offset by general and administrative costs totaling $585,975. The company has not yet commenced operations and does not expect to generate operating revenues until after completing a business combination.

The company’s total assets as of March 31, 2026, amounted to $149.4 million, a slight increase from $148.3 million at the end of the previous fiscal year. The Trust Account held $149.2 million in marketable securities, reflecting a modest increase from $147.9 million at the end of 2025. Current liabilities decreased slightly to $96,935 from $97,477, while the shareholders' deficit widened to $6.05 million from $5.46 million, primarily due to the accretion of Class A ordinary shares to their redemption value.

In terms of strategic developments, the company underwent a significant change in control on February 5, 2026, when Collective Acquisition Sponsor LLC acquired 4,475,000 Class B ordinary shares and 1,000,000 private placement warrants from the original sponsor for $2 million. This transaction was part of a broader effort to position the company for a successful business combination. Additionally, on April 6, 2026, the company appointed Elliot Richmond as the new Chief Executive Officer and Chairman of the Board, following the resignation of several directors and officers.

Operationally, the company reported a working capital surplus of $114,632 as of March 31, 2026, with cash and cash equivalents of $84,207. The company intends to utilize these funds primarily for identifying and evaluating potential target businesses for acquisition. The management has indicated that while they do not foresee the need for additional financing to cover operational costs, they may require further capital to complete a business combination or to address potential shareholder redemptions.

Looking ahead, Collective Acquisition Corp. faces challenges related to the ongoing geopolitical tensions and market volatility, which could impact its ability to identify suitable acquisition targets. The company has expressed its commitment to completing a business combination within the required timeframe, but it acknowledges the uncertainty surrounding its future operations and the potential need for additional financing. The management plans to address these challenges through strategic initiatives aimed at securing a viable business combination.