Wintergreen Acquisition Corp. Reports Q1 2026 Financial Results with Net Income Turnaround

Wintergreen Acquisition Corp. reported its financial results for the first quarter of 2026, revealing a net income of $371,705, a significant turnaround from a net loss of $75,157 in the same period of 2025. The company attributed this improvement primarily to income earned on marketable securities held in its Trust Account, which amounted to $503,470, alongside interest income of $5,890. Operating expenses for the quarter increased to $137,655 from $75,157 year-over-year, driven by formation and administrative costs, including a new administrative fee of $30,000.

As of March 31, 2026, Wintergreen Acquisition Corp. reported total assets of $59.2 million, up from $58.8 million at the end of 2025. The increase was largely due to a rise in marketable securities held in the Trust Account, which grew to $57.9 million from $57.4 million. However, the company’s cash reserves decreased to $1.2 million from $1.3 million, reflecting cash used in operating activities of $145,562 during the quarter. Current liabilities also rose to $164,338, compared to $115,845 at the end of 2025, primarily due to increased accounts payable and amounts due to a related party.

Strategically, Wintergreen Acquisition Corp. is in the process of completing a business combination with KIKA Technology Inc., as outlined in a merger agreement signed on November 17, 2025. This transaction values KIKA at $80 million and is expected to result in the company changing its name to "KIKA Inc." upon completion. The merger is subject to customary closing conditions, including SEC approval and shareholder votes, and aims to enhance the company’s operational capabilities and market presence.

In terms of operational metrics, the company has not yet commenced any revenue-generating activities, as it remains focused on finalizing its business combination. The total number of ordinary shares subject to possible redemption stands at 5,595,000, reflecting the shares sold during its initial public offering (IPO) in May 2025. The company has until May 30, 2027, to complete its initial business combination, or it will face mandatory liquidation, raising concerns about its ability to continue as a going concern.

Looking ahead, Wintergreen Acquisition Corp. plans to utilize the proceeds from its IPO and private placement to fund the business combination and cover operational expenses. The company has indicated that it will continue to incur costs associated with being a public entity and conducting due diligence on potential acquisition targets. While management expresses confidence in completing the business combination before the deadline, there are no guarantees that this will occur, and the company remains vigilant about its financial position and operational strategy.