Vernal Capital Acquisition Corp. Reports Net Income of $612,215 for Quarter Ending July 31, 2026

Vernal Capital Acquisition Corp. has reported its financial results for the quarter ending July 31, 2026, revealing a net income of $612,215, a significant increase from a net loss of $4,193 during the same period in the previous year. The company generated this income primarily through interest earned on investments held in its Trust Account, totaling $832,568, while incurring general and administrative expenses of $225,083. For the six months ending July 31, 2026, the net income was reported at $586,700, again reflecting a substantial improvement compared to the prior year's loss.

The company has seen notable changes in its financial position since its inception. As of July 31, 2026, Vernal Capital reported total assets of $102,096,052, a sharp increase from $335,695 at the end of January 2026. This growth is largely attributed to the successful completion of its initial public offering (IPO) on May 7, 2026, where it raised $100 million by selling 10 million units at $10 each. Additionally, the company completed a private placement of 251,250 units, generating an additional $2.5 million. The funds from these offerings have been placed in a Trust Account, which is intended to be used for future business combinations.

Operationally, Vernal Capital has not yet commenced any business activities beyond its IPO and the identification of potential acquisition targets. As of the reporting date, the company had $669,644 in cash and a working capital of $721,720. The company’s liquidity needs have been met through initial funding from its sponsors, who provided $25,000 for the issuance of founder shares, and a $300,000 unsecured promissory note, which has since been repaid. The company has also reported a total of 12,851,250 ordinary shares outstanding, with 10 million shares subject to possible redemption.

Looking ahead, Vernal Capital faces a deadline of August 7, 2027, to complete its initial business combination, or it will be required to liquidate. The company has acknowledged the significant costs associated with pursuing its acquisition plans and has expressed uncertainty regarding its ability to raise additional capital or successfully complete a business combination within the required timeframe. Management has indicated that these factors raise substantial doubt about the company's ability to continue as a going concern. The company plans to utilize the proceeds from its IPO and private placement primarily for the intended business combination and related expenses.