Maywood Acquisition Corp. Reports Q3 2025 Net Income of $70,891, Significant Asset Growth Following IPO

Maywood Acquisition Corp. has reported its financial results for the third quarter of 2025, revealing a net income of $70,891 for the three months ending September 30, 2025, compared to a net loss of $365 for the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net income of $1,312,339, significantly improving from a loss of $7,687 during the initial period from May 31, 2024, to September 30, 2024. The increase in income is primarily attributed to $914,894 in interest earned on marketable securities held in the Trust Account and $2,540 in interest income from cash held outside the Trust Account.

The company’s total assets as of September 30, 2025, amounted to $88,835,774, a substantial increase from $131,602 at the end of 2024. This growth is largely due to the successful completion of its initial public offering (IPO) in February 2025, which generated gross proceeds of $86,250,000. The IPO included the sale of 8,625,000 units, with each unit consisting of one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share upon the consummation of a business combination. The company also completed a private placement of 265,625 units, raising an additional $2,656,250.

In terms of operational developments, Maywood Acquisition Corp. has undergone significant organizational changes. On September 9, 2025, the company transitioned its management team, with Michael Blitzer appointed as Chairman and Chief Executive Officer, and Kevin Shannon as Chief Operating Officer. This change followed a Securities Transfer Agreement with Inflection Point Fund I LP, which involved the sale of Class B ordinary shares and the assignment of a $500,000 Sponsor Loan. The company has also entered into a definitive agreement for a business combination with GOWell Technology Limited, with a completion deadline set for August 14, 2026.

As of the end of September 2025, Maywood Acquisition Corp. had 10,919,375 Class A ordinary shares and 990,000 Class B ordinary shares issued and outstanding. The company reported a working capital deficit of $310,639, with cash reserves of $289,580. Management has expressed uncertainty regarding its ability to complete a business combination by the deadline, which raises concerns about the company's ability to continue as a going concern. The company plans to utilize its available funds to pursue its acquisition strategy while monitoring market conditions that may impact its operations.