**Israel Acquisitions Corp Navigates Delisting and Pursues Business Combination with Gadfin**
Israel Acquisitions Corp (IAC), a special purpose acquisition company (SPAC), is currently operating with a working capital deficit of $2.58 million as of December 31, 2025, and has reported a net loss of $510,230 for the year. This financial position raises substantial doubt about the company's ability to continue as a going concern, as it relies on completing a business combination to generate revenue. The company's primary focus remains on identifying and merging with a high-growth technology company with ties to Israel.
A significant development for IAC was the delisting of its securities from the Nasdaq Global Market. The company failed to maintain the minimum market value of listed securities, leading to its shares, units, and warrants now trading on the Pink Current tier of the OTC Markets under the symbols ISRLF, ISLUF, and ISLWF, respectively. This transition to the over-the-counter market could limit investors' ability to trade IAC's securities and potentially decrease the company's ability to raise additional capital.
Despite these challenges, IAC is actively pursuing a business combination with Gadfin Ltd., an Israeli technology company specializing in hydrogen-powered drones for cargo delivery. The company entered into a Business Combination Agreement with Gadfin in January 2025, with amendments made throughout the year to adjust terms and extend deadlines. The proposed transaction values Gadfin at approximately $180 million, to be paid in NewPubco Ordinary Shares. The termination date for the agreement has been extended to April 15, 2026.
To facilitate the Gadfin transaction, IAC has secured waivers from underwriters regarding deferred underwriting commissions and has entered into an advisory agreement with BTIG, LLC, for strategic and capital markets advice. The company's management team, led by CEO Ziv Elul, is focused on completing the business combination and leveraging their expertise in the Israeli technology sector to create value for shareholders. However, the company's ability to continue as a going concern is contingent upon the successful completion of the Gadfin transaction or another suitable business combination by April 15, 2026.
About Israel Acquisitions Corp
Israel Acquisitions Corp. is a blank check company focused on identifying and acquiring high-growth Israeli technology firms. Its core activities include targeting innovative companies in sectors like logistics, AI, cyber, and digital media. Leveraging extensive Israeli tech ecosystem relationships, it aims to create long-term value through mergers, acquisitions, and strategic investments in companies with global growth potential.
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