Ribbon Acquisition Corp. Reports $235,856 Net Income in Q1 2025

Ribbon Acquisition Corp. has reported its financial results for the first quarter of 2025, highlighting a net income of $235,856 for the period ending March 31, 2025. This income was primarily driven by $421,257 earned on marketable securities held in a trust account, offset by operating expenses totaling $185,401. The company, which was incorporated as a blank check company in July 2024, has not yet engaged in any operational activities or generated revenue from business operations, as it is still in the process of identifying a target for its initial business combination.

The financial performance of Ribbon Acquisition Corp. shows a significant increase in total assets, which rose to $51,016,287 as of March 31, 2025, compared to $508,662 at the end of the previous fiscal period. This increase is largely attributed to the successful completion of its Initial Public Offering (IPO) on January 16, 2025, where the company raised $50 million by selling 5,000,000 units at $10.00 each. Additionally, the company raised $2.2 million through a private placement of 220,000 units to its sponsor, further bolstering its financial position.

In terms of operational developments, Ribbon Acquisition Corp. has not yet selected a specific business combination target and has not initiated substantive discussions regarding potential acquisitions. The company has until January 16, 2026, to complete its initial business combination, or it will face automatic liquidation. As of the end of the reporting period, the company had $536,022 in cash and a working capital of $516,514, indicating a solid liquidity position to support its ongoing search for acquisition opportunities.

The company’s balance sheet reflects a total liability of $2,078,508, which includes $2 million in deferred underwriting commissions and $78,508 in accrued expenses. The shareholders' equity stood at $3,797,090, with Class A ordinary shares issued totaling 220,000 and Class B ordinary shares at 1,250,000. The company has also recorded an accretion of $1,268,367 related to the redemption value of its ordinary shares, which are classified as temporary equity.

Looking ahead, Ribbon Acquisition Corp. aims to utilize the proceeds from its IPO and private placement to finance its initial business combination and cover associated expenses. The management has indicated that while they expect to incur significant costs in pursuit of acquisition plans, there is no assurance that they will successfully complete a business combination within the designated timeframe. The company remains focused on identifying suitable targets and executing its strategic objectives in the coming months.