Melar Acquisition Corp. I reported a net income of $1,556,238 for the three months ended June 30, 2025, a significant increase from the $106,303 recorded in the same period of the previous year. For the six months ending June 30, 2025, the company achieved a net income of $3,136,231, compared to $87,168 for the corresponding period in 2024. The increase in profitability is attributed primarily to higher dividends and interest earned on marketable securities and cash held in the Trust Account, which amounted to $1,786,926 for the quarter and $3,523,660 for the half-year, compared to $167,532 for both periods in 2024.
The company’s total assets as of June 30, 2025, were reported at $168,908,363, up from $165,521,616 at the end of 2024. This increase was driven by a rise in marketable securities and cash held in the Trust Account, which grew to $167,930,676 from $164,407,016. However, the company also saw an increase in current liabilities, which rose to $291,768 from $41,252, largely due to the introduction of a sponsor loan of $228,188.
In terms of operational developments, Melar Acquisition Corp. I has not yet commenced any business operations but is actively pursuing a merger with Everli Global Inc. The company entered into a Merger Agreement on July 30, 2025, which includes plans for the company to de-register from the Cayman Islands and domesticate as a Nevada corporation. The pre-money equity value of Everli in the transaction is set at $180 million, subject to adjustments based on certain financings prior to closing.
As of June 30, 2025, Melar Acquisition Corp. I had 16,000,000 Class A ordinary shares and 5,621,622 Class B ordinary shares outstanding. The company has until June 20, 2026, to complete its initial Business Combination, failing which it will trigger an automatic winding up and liquidation. The management has expressed confidence in the company’s ability to sustain operations for at least one year from the issuance date of the financial statements, although they acknowledge the uncertainty surrounding the completion of the Business Combination.
About Melar Acquisition Corp. I/Cayman
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