Melar Acquisition Corp. I Reports Decrease in Net Income and Total Assets for Quarter Ending June 30, 2026

Melar Acquisition Corp. I has reported its financial results for the quarter ending June 30, 2026, revealing a net income of $720,170, a decrease from $1,556,238 in the same period last year. The company generated total revenue primarily from dividends and interest earned on marketable securities and cash held in its Trust Account, amounting to $1,365,225 for the quarter. General and administrative costs increased significantly to $628,701 from $233,288 in the prior year, contributing to the overall decline in profitability.

In terms of assets, Melar's total assets decreased to $47.0 million as of June 30, 2026, down from $175.3 million at the end of 2025. This decline was largely due to a significant reduction in marketable securities and cash held in the Trust Account, which fell from $171.4 million to $42.9 million. The company also reported a working capital deficit of $1.8 million, reflecting its ongoing operational costs and the impact of shareholder redemptions.

A notable operational development occurred during the June 2026 Meeting, where shareholders approved an amendment to extend the Combination Period for completing a business combination with Everli Global Inc. This extension allows for a potential completion date up to December 20, 2026. Following this meeting, approximately 12.1 million Public Shares were redeemed for cash, totaling around $131.5 million, leaving 3.9 million shares outstanding.

The company has also engaged in strategic financing activities, including a Working Capital Loan of up to $1.5 million from its Sponsor, which is repayable upon the consummation of the initial business combination or liquidation. Additionally, Melar has entered into intercreditor agreements with various parties, including Everli, to manage its financial obligations effectively. The company continues to assess its liquidity and capital resources, with plans to utilize funds from the Trust Account primarily for the business combination and related operational expenses.

Looking ahead, Melar Acquisition Corp. I faces significant challenges in completing its business combination within the extended timeframe. The company has expressed uncertainty regarding its ability to continue as a going concern if it fails to finalize the transaction by the end of the Combination Period. Management remains focused on executing its acquisition strategy while navigating the complexities of the current market environment.