Miluna Acquisition Corp Reports Improved Financial Results and Pursues Business Combination with Kukugan Invest

Miluna Acquisition Corp, a blank check company incorporated in the Cayman Islands, reported its financial results for the six months ending June 30, 2026, revealing a net income of $555,866, a significant improvement compared to a net loss of $25,128 during the same period in the previous year. The company generated interest income of $1,232,214 from its trust account, which holds $70,703,700 in cash and marketable securities, while incurring formation and operating costs of $676,348. For the three months ended June 30, 2026, the company recorded a net income of $93,409, driven by interest income of $620,012 against operating costs of $526,603.

Compared to the previous fiscal period, Miluna Acquisition Corp's total assets increased from $70,223,492 as of December 31, 2025, to $70,912,791 by June 30, 2026. The company's cash reserves decreased from $692,004 to $136,583, reflecting its ongoing operational expenditures. The working capital deficit also widened to $665,090, indicating a need for additional funding to support its business activities. The company has not yet commenced any operations beyond its formation and initial public offering (IPO) activities, which generated gross proceeds of $69 million.

Strategically, Miluna Acquisition Corp is pursuing a business combination with Kukugan Invest, a Cayman Islands exempted company, as outlined in a Business Combination Agreement signed on April 23, 2026. This merger will result in CADV Ventures S.A., a Polish company, becoming a wholly-owned subsidiary of Miluna. The company is also undergoing organizational changes, including the appointment of Ms. Yajuan Ding as an independent director following the resignation of Ms. Mei Chi Tsai in February 2026.

Operationally, Miluna Acquisition Corp has not reported any customer counts or user statistics, as it has not yet engaged in revenue-generating activities. The company’s focus remains on identifying and evaluating potential acquisition targets, with plans to utilize funds held outside the trust account for due diligence and related expenses. The company anticipates incurring significant costs as it continues to pursue its acquisition strategy, with no assurance that it will successfully complete a business combination within the designated timeframe.

Looking ahead, Miluna Acquisition Corp faces liquidity challenges, with a working capital deficit and reliance on potential loans from its sponsor or affiliates to meet operational needs. The company has until 18 months from the IPO closing to complete its business combination, with the possibility of extending this period by three months if certain conditions are met. The management team remains focused on executing its acquisition strategy while navigating the uncertainties of the current market environment.