Soulpower Acquisition Corporation has reported its financial results for the quarter ending September 30, 2025, showcasing a significant increase in both revenue and profitability compared to the previous fiscal period. The company recorded a net income of $2.24 million for the third quarter, a notable recovery from a net loss of $76,077 in the same quarter of 2024. For the nine months ending September 30, 2025, the net income reached $4.20 million, compared to a loss of $86,077 during the same period last year. This improvement is primarily attributed to interest income generated from cash held in the Trust Account, which amounted to $2.64 million for the quarter and $5.16 million for the nine-month period.
The company’s total assets surged to $255.73 million as of September 30, 2025, up from just $100,548 at the end of 2024. This increase is largely due to the successful completion of its Initial Public Offering (IPO) on April 3, 2025, which raised $250 million from the sale of 25 million units. Additionally, the company sold 620,000 Private Placement Units for $6.2 million, further bolstering its financial position. The cash held in the Trust Account, which is earmarked for future business combinations, stood at $255.16 million, reflecting the funds raised during the IPO.
Operationally, Soulpower Acquisition Corporation has not yet commenced any business activities, as it is a blank check company formed to pursue a merger or acquisition. As of the reporting date, the company had 25.62 million Class A ordinary shares and 8.33 million Class B ordinary shares outstanding. The company’s management has indicated that it will continue to incur costs related to identifying and evaluating potential target businesses, which may require additional financing. The company has sufficient liquidity, with $384,848 in cash available outside the Trust Account, to cover operational expenses until a business combination is completed.
Looking ahead, Soulpower Acquisition Corporation remains focused on identifying suitable business combinations. The management has acknowledged the potential challenges posed by current market conditions, including geopolitical tensions and economic volatility, which could impact the search for target businesses. The company has expressed confidence in its ability to navigate these challenges and is committed to utilizing its financial resources effectively to achieve its strategic objectives. The management team continues to evaluate opportunities that align with its business strategy, aiming to complete a business combination within the stipulated timeframe.
About Soulpower Acquisition Corp.
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