IGTA Merger Sub Limited, a wholly-owned subsidiary of Inception Growth Acquisition Limited, reported a net loss of $63,544 for the fiscal year ending December 31, 2025, compared to a loss of $4,700 in the previous year. The increase in losses is attributed to formation costs and general administrative expenses, which have risen as the company prepares for its planned business combination with AgileAlgo Holdings Limited. As of December 31, 2025, the company had no revenue, reflecting its status as a newly formed entity focused solely on completing the merger.
The company has not yet commenced operations and has no cash balance, relying on advances from its parent company for liquidity. The accumulated deficit reached $93,245 by the end of 2025. The company anticipates that expenses will continue to increase as it moves closer to finalizing the business combination, raising concerns about its ability to sustain operations without ongoing financial support from Inception Growth. The company has indicated that its ability to continue as a going concern is contingent upon this support.
Strategically, IGTA Merger Sub entered into a Business Combination Agreement with AgileAlgo on September 12, 2023, which has undergone several amendments to extend the closing date to October 14, 2025. The agreement outlines a two-step process where Inception Growth will merge with IGTA, with IGTA remaining as the publicly traded entity. Following the merger, the company will be renamed Prodigy, Inc. and will issue shares valued at $160 million to AgileAlgo shareholders as part of the transaction.
As of the end of 2025, IGTA Merger Sub had no employees and no physical properties, maintaining its executive offices in New York City. The company has not engaged in any significant operational activities, and its financial statements reflect no off-balance sheet arrangements or long-term liabilities. The company has not yet registered its securities under the Securities Exchange Act of 1934, and there are currently no dividends being paid or anticipated prior to the completion of the business combination.
Looking ahead, IGTA Merger Sub's management has expressed optimism about completing the business combination with AgileAlgo, which is expected to provide a pathway to future revenue generation. However, the company acknowledges the inherent risks and uncertainties associated with the merger process, including the need for shareholder approval and the successful listing of its shares on Nasdaq. The management's forward-looking statements emphasize the potential for growth post-merger, contingent on the successful execution of their strategic plans.
About IGTA Merger Sub Ltd
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